Tandem Investment Advisors Inc. Acquires 45,065 Shares of Terreno Realty Co. (NYSE:TRNO)

Tandem Investment Advisors Inc. grew its holdings in Terreno Realty Co. (NYSE:TRNO - Free Report) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,042,457 shares of the real estate investment trust's stock after acquiring an additional 45,065 shares during the quarter. Terreno Realty accounts for approximately 2.5% of Tandem Investment Advisors Inc.'s holdings, making the stock its 22nd largest holding. Tandem Investment Advisors Inc. owned 1.08% of Terreno Realty worth $61,693,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TRNO. New York State Common Retirement Fund boosted its holdings in Terreno Realty by 4.6% in the fourth quarter. New York State Common Retirement Fund now owns 77,052 shares of the real estate investment trust's stock worth $4,829,000 after acquiring an additional 3,367 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Terreno Realty by 15.8% in the fourth quarter. Van ECK Associates Corp now owns 15,614 shares of the real estate investment trust's stock worth $979,000 after purchasing an additional 2,126 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Terreno Realty by 166.9% in the fourth quarter. Victory Capital Management Inc. now owns 41,366 shares of the real estate investment trust's stock worth $2,592,000 after purchasing an additional 25,865 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of Terreno Realty by 651.8% in the fourth quarter. New York Life Investment Management LLC now owns 28,103 shares of the real estate investment trust's stock worth $1,761,000 after purchasing an additional 24,365 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in shares of Terreno Realty by 337.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 408 shares during the last quarter.

Insider Buying and Selling at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 7,500 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the completion of the sale, the president now directly owns 402,164 shares in the company, valued at approximately $27,560,298.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the transaction, the chief financial officer now owns 101,927 shares of the company's stock, valued at approximately $6,970,787.53. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Michael A. Coke sold 7,500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the transaction, the president now directly owns 402,164 shares in the company, valued at approximately $27,560,298.92. The disclosure for this sale can be found here. Insiders sold a total of 18,643 shares of company stock worth $1,277,581 in the last three months. 2.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TRNO. Scotiabank raised their price objective on Terreno Realty from $59.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Monday, August 26th. The Goldman Sachs Group raised their price objective on Terreno Realty from $60.00 to $68.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. Wells Fargo & Company cut Terreno Realty from an "overweight" rating to an "equal weight" rating and raised their price objective for the stock from $71.00 to $75.00 in a research note on Wednesday. BNP Paribas started coverage on Terreno Realty in a research report on Tuesday, June 4th. They set an "outperform" rating and a $68.00 price target for the company. Finally, JMP Securities boosted their price target on Terreno Realty from $65.00 to $72.00 and gave the company a "market outperform" rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $69.56.

Terreno Realty Price Performance

Shares of TRNO traded up $0.99 during trading hours on Friday, hitting $69.04. 537,197 shares of the stock were exchanged, compared to its average volume of 656,241. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The stock's 50-day moving average price is $65.73 and its two-hundred day moving average price is $61.78. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 35.96, a price-to-earnings-growth ratio of 3.17 and a beta of 0.89. Terreno Realty Co. has a 12-month low of $50.42 and a 12-month high of $71.63.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $0.49 dividend. This is a boost from Terreno Realty's previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Monday, September 30th. Terreno Realty's dividend payout ratio is presently 93.75%.

Terreno Realty Profile

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.