Teacher Retirement System of Texas Sells 3,669 Shares of Terreno Realty Corporation $TRNO

Teacher Retirement System of Texas lessened its holdings in Terreno Realty Corporation (NYSE:TRNO) by 19.0% during the second quarter, Holdings Channel.com reports. The firm owned 15,604 shares of the real estate investment trust’s stock after selling 3,669 shares during the quarter. Teacher Retirement System of Texas’ holdings in Terreno Realty were worth $875,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. boosted its position in shares of Terreno Realty by 2.4% in the 1st 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 purchasing an additional 125,940 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Terreno Realty by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock valued at $262,918,000 after buying an additional 523,950 shares in the last quarter. Invesco Ltd. raised its stake 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 valued at $122,021,000 after buying an additional 95,714 shares during the last quarter. Northern Trust Corp boosted its holdings in Terreno Realty by 2.7% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Terreno Realty by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,884,086 shares of the real estate investment trust’s stock worth $119,112,000 after acquiring an additional 45,583 shares in the last quarter.

Terreno Realty Stock Up 3.4%

Shares of Terreno Realty stock opened at $60.96 on Friday. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $69.20. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $58.53 and its 200 day moving average is $57.41. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The business had revenue of $116.25 million during the quarter, compared to analyst estimates of $114.62 million. Terreno Realty had a net margin of 59.56% and a return on equity of 6.71%. Research analysts anticipate that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Monday, December 15th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, December 15th. Terreno Realty’s dividend payout ratio is 82.54%.

Analysts Set New Price Targets

TRNO has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on Terreno Realty from $64.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Piper Sandler increased their price objective on shares of Terreno Realty from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, September 18th. Barclays raised their price objective on shares of Terreno Realty from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, September 15th. Wells Fargo & Company dropped their target price on shares of Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Terreno Realty in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.00.

Insider Transactions at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the transaction, the president directly owned 412,415 shares of the company’s stock, valued at approximately $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Tull Meyer sold 4,758 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $59.95, for a total value of $285,242.10. Following the sale, the executive vice president owned 119,949 shares of the company’s stock, valued at approximately $7,190,942.55. This represents a 3.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.40% of the stock is currently owned by corporate insiders.

Terreno Realty Company 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.