Tandem Investment Advisors Inc. Raises Stock Position in Terreno Realty Co. (NYSE:TRNO)

Tandem Investment Advisors Inc. grew its holdings in Terreno Realty Co. (NYSE:TRNO) by 4.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,042,457 shares of the real estate investment trust’s stock after buying an additional 45,065 shares during the period. Terreno Realty makes up 2.5% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 22nd largest holding. Tandem Investment Advisors Inc. owned approximately 1.08% of Terreno Realty worth $61,693,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mather Group LLC. bought a new position in Terreno Realty during the 1st quarter valued at about $31,000. SRS Capital Advisors Inc. grew its holdings in Terreno Realty by 337.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 408 shares during the last quarter. Whittier Trust Co. grew its holdings in Terreno Realty by 123.4% during the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 337 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Terreno Realty by 80.3% during the 1st quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 419 shares during the last quarter. Finally, CWM LLC grew its holdings in Terreno Realty by 58.2% during the 2nd quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 438 shares during the last quarter.

Terreno Realty Stock Up 1.5 %

Shares of TRNO traded up $0.99 during mid-day trading on Friday, hitting $69.04. The company’s stock had a trading volume of 537,197 shares, compared to its average volume of 656,241. The company’s 50-day moving average is $65.73 and its 200-day moving average is $61.78. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $71.63. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 35.96, a PEG ratio of 3.17 and a beta of 0.89. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24.

Terreno Realty Increases Dividend

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

Insider Transactions at Terreno Realty

In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following the completion of the sale, the chief financial officer now owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following the completion of the sale, the chief financial officer now owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Tull Meyer sold 6,145 shares of the company’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 transaction, the executive vice president now owns 110,988 shares in the company, valued at approximately $7,618,216.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,643 shares of company stock valued at $1,277,581. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

TRNO has been the topic of several analyst reports. BNP Paribas began coverage on shares of Terreno Realty in a report on Tuesday, June 4th. They set an “outperform” rating and a $68.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Scotiabank boosted their price objective on shares of Terreno Realty from $59.00 to $70.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Barclays lowered 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. Finally, Wells Fargo & Company cut shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $71.00 to $75.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.56.

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.