The Manufacturers Life Insurance Company increased its holdings in Terreno Realty Co. (NYSE:TRNO - Free Report) by 14.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,584 shares of the real estate investment trust's stock after purchasing an additional 8,336 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Terreno Realty worth $3,940,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of TRNO. Thrivent Financial for Lutherans increased its position in 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 worth $78,587,000 after purchasing an additional 935,418 shares during the last quarter. Vanguard Group Inc. increased its position in Terreno Realty by 7.6% during the first quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust's stock valued at $861,988,000 after acquiring an additional 919,851 shares during the last quarter. Principal Financial Group Inc. increased its position in Terreno Realty by 16.4% during the first quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust's stock valued at $342,322,000 after acquiring an additional 727,995 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Terreno Realty during the second quarter valued at $39,064,000. Finally, Price T Rowe Associates Inc. MD increased its position in Terreno Realty by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust's stock valued at $276,381,000 after acquiring an additional 291,051 shares during the last quarter.
Insider Buying and Selling
In other news, EVP John Tull Meyer sold 6,145 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the sale, the executive vice president now owns 110,988 shares of the company's stock, valued at $7,618,216.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP John Tull Meyer sold 6,145 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the sale, the executive vice president now owns 110,988 shares of the company's stock, valued at $7,618,216.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the sale, the chief financial officer now directly owns 101,927 shares in the company, valued at $6,970,787.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,643 shares of company stock worth $1,277,581. 2.40% of the stock is owned by company insiders.
Analyst Ratings Changes
TRNO has been the topic of a number of analyst reports. JMP Securities boosted their price objective on shares of Terreno Realty from $65.00 to $72.00 and gave the company a "market outperform" rating in a research report on Tuesday, August 13th. StockNews.com raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research note on Monday, September 30th. Wells Fargo & Company lowered shares of Terreno Realty from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. Wolfe Research raised shares of Terreno Realty to a "hold" rating in a research note on Sunday, September 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the company a "neutral" rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Terreno Realty currently has a consensus rating of "Hold" and an average price target of $69.56.
Check Out Our Latest Stock Analysis on TRNO
Terreno Realty Stock Down 0.9 %
Shares of TRNO traded down $0.60 during mid-day trading on Tuesday, hitting $64.58. 43,042 shares of the company traded hands, compared to its average volume of 694,121. Terreno Realty Co. has a 1-year low of $50.42 and a 1-year high of $71.63. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $6.25 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.98 and a beta of 0.90. The business has a 50 day moving average of $68.01 and a 200 day moving average of $62.57.
Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. The business had revenue of $94.25 million during the quarter, compared to analyst estimates of $89.07 million. Equities research analysts anticipate that Terreno Realty Co. will post 2.42 EPS for the current year.
Terreno Realty Increases Dividend
The firm also recently declared 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. This represents a $1.96 annualized dividend and a yield of 3.03%. The ex-dividend date is Monday, September 30th. This is an increase from Terreno Realty's previous quarterly dividend of $0.45. Terreno Realty's dividend payout ratio is 102.08%.
Terreno Realty Company Profile
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Free Report)
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.
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