Wellington Management Group LLP Acquires Shares of 542,272 Terreno Realty Co. (NYSE:TRNO)

Wellington Management Group LLP acquired a new stake in Terreno Realty Co. (NYSE:TRNO) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 542,272 shares of the real estate investment trust’s stock, valued at approximately $35,031,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in Terreno Realty in the first quarter valued at approximately $25,000. Point72 Hong Kong Ltd bought a new stake in Terreno Realty in the first quarter valued at approximately $28,000. Itau Unibanco Holding S.A. bought a new position in shares of Terreno Realty during the fourth quarter valued at approximately $31,000. Ronald Blue Trust Inc. raised its holdings in shares of Terreno Realty by 68.7% during the first quarter. Ronald Blue Trust Inc. now owns 847 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 345 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Terreno Realty by 26.3% during the fourth quarter. First Eagle Investment Management LLC now owns 908 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 189 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TRNO shares. StockNews.com started coverage on Terreno Realty in a report on Thursday, August 17th. They set a “hold” rating for the company. The Goldman Sachs Group started coverage on Terreno Realty in a report on Tuesday, July 11th. They set a “neutral” rating and a $65.00 target price for the company. Finally, Citigroup started coverage on Terreno Realty in a report on Wednesday, July 19th. They set a “neutral” rating and a $63.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Terreno Realty Price Performance

Shares of TRNO stock opened at $61.11 on Friday. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.02 and a beta of 0.80. The business’s fifty day moving average is $59.68 and its 200 day moving average is $60.83. Terreno Realty Co. has a twelve month low of $50.36 and a twelve month high of $67.03. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.30.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Terreno Realty had a return on equity of 6.01% and a net margin of 48.07%. The company had revenue of $79.54 million during the quarter, compared to analysts’ expectations of $77.84 million. Research analysts expect that Terreno Realty Co. will post 2.2 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.45 dividend. This is a boost from Terreno Realty’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Thursday, September 28th. Terreno Realty’s dividend payout ratio is currently 97.83%.

Insider Transactions at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $59.60, for a total value of $596,000.00. Following the sale, the president now directly owns 395,988 shares of the company’s stock, valued at $23,600,884.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

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 We invest in several types of industrial real estate, including warehouse/distribution (approximately 79.5% of our total annualized base rent as of December 31, 2021), flex (including light industrial and research and development, or R&D) (approximately 4.8%), transshipment (approximately 6.4%) and improved land (approximately 9.3%).