Terreno Realty Co. (NYSE:TRNO) EVP Sells $421,792.80 in Stock

Terreno Realty Co. (NYSE:TRNO) EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the transaction, the executive vice president now owns 110,988 shares of the company’s stock, valued at $7,618,216.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Terreno Realty Price Performance

Shares of Terreno Realty stock traded up $0.72 during trading hours on Tuesday, reaching $67.96. 993,559 shares of the company’s stock were exchanged, compared to its average volume of 709,161. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a 1 year low of $50.42 and a 1 year high of $69.74. The business has a fifty day moving average of $62.57 and a two-hundred day moving average of $61.05. The company has a market capitalization of $6.59 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 3.30 and a beta of 0.89.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.49 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.88%. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio is currently 93.75%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TRNO. BNP Paribas began coverage on shares of Terreno Realty in a research report on Tuesday, June 4th. They set an “outperform” rating and a $68.00 price objective for the company. StockNews.com cut shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Barclays reduced their price objective on shares of Terreno Realty from $71.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Wedbush restated a “neutral” rating and set a $57.00 price objective (down from $67.00) on shares of Terreno Realty in a research report on Tuesday, May 14th. Finally, JMP Securities upped their target price on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $66.44.

Institutional Investors Weigh In On Terreno Realty

A number of hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in shares of Terreno Realty by 238.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,327,932 shares of the real estate investment trust’s stock valued at $78,587,000 after purchasing an additional 935,418 shares during the period. Sei Investments Co. grew its holdings in shares of Terreno Realty by 27.0% in the second quarter. Sei Investments Co. now owns 482,394 shares of the real estate investment trust’s stock valued at $28,549,000 after purchasing an additional 102,456 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Terreno Realty by 1.8% in the second quarter. Pacer Advisors Inc. now owns 116,310 shares of the real estate investment trust’s stock valued at $6,883,000 after purchasing an additional 2,059 shares during the period. MQS Management LLC purchased a new stake in shares of Terreno Realty in the second quarter valued at about $310,000. Finally, XTX Topco Ltd purchased a new position in Terreno Realty during the second quarter worth about $414,000.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.