DekaBank Deutsche Girozentrale Sells 1,609 Shares of Terreno Realty Corporation $TRNO

DekaBank Deutsche Girozentrale reduced its stake in Terreno Realty Corporation (NYSE:TRNO) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,939 shares of the real estate investment trust’s stock after selling 1,609 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Terreno Realty were worth $2,712,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of Terreno Realty by 2.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust’s stock worth $333,261,000 after buying an additional 125,940 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Terreno Realty by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock worth $262,918,000 after acquiring an additional 523,950 shares during the last quarter. Invesco Ltd. boosted its position in Terreno Realty by 5.2% during the first quarter. Invesco Ltd. now owns 1,930,096 shares of the real estate investment trust’s stock worth $122,021,000 after acquiring an additional 95,714 shares during the last quarter. Northern Trust Corp boosted its position in Terreno Realty by 2.7% during the first quarter. Northern Trust Corp now owns 1,895,115 shares of the real estate investment trust’s stock worth $119,809,000 after acquiring an additional 49,494 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Terreno Realty by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,884,086 shares of the real estate investment trust’s stock valued at $119,112,000 after purchasing an additional 45,583 shares during the last quarter.

Terreno Realty Stock Up 0.2%

TRNO stock opened at $61.06 on Friday. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $69.20. The stock has a market capitalization of $6.31 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.62 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. The company has a fifty day moving average of $58.07 and a 200-day moving average of $57.21.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were paid a $0.52 dividend. This is a boost from Terreno Realty’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 29th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. Terreno Realty’s dividend payout ratio (DPR) is 82.54%.

Insider Activity at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the sale, the president owned 412,415 shares in the company, valued at approximately $22,253,913.40. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TRNO. KeyCorp decreased their price objective on shares of Terreno Realty from $70.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, August 21st. UBS Group set a $71.00 target price on shares of Terreno Realty in a report on Tuesday. Piper Sandler upped their target price on shares of Terreno Realty from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Wells Fargo & Company lowered their target price on shares of Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Terreno Realty in a research note on Friday. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Terreno Realty has an average rating of “Hold” and an average price target of $65.00.

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.