The Manufacturers Life Insurance Company Invests $4.01 Million in Terreno Realty Corporation $TRNO

The Manufacturers Life Insurance Company bought a new stake in shares of Terreno Realty Corporation (NYSE:TRNO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 61,849 shares of the real estate investment trust’s stock, valued at approximately $4,006,000.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in Terreno Realty by 73.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 189 shares during the period. Wiser Advisor Group LLC purchased a new stake in Terreno Realty in the 3rd quarter valued at about $25,000. Clearstead Trust LLC purchased a new stake in Terreno Realty in the 2nd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its stake in Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 172 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 350 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TRNO. Cantor Fitzgerald lifted their price target on shares of Terreno Realty from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. UBS Group set a $68.00 price objective on Terreno Realty in a research note on Thursday, June 18th. Citigroup raised their price objective on Terreno Realty from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Raymond James Financial started coverage on Terreno Realty in a research report on Wednesday, June 17th. They set an “underperform” rating for the company. Finally, Barclays upped their target price on Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.29.

Insider Buying and Selling at Terreno Realty

In other news, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction on Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the transaction, the president directly owned 425,381 shares in the company, valued at approximately $29,087,552.78. This trade represents a 1.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Tull Meyer sold 4,447 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the transaction, the executive vice president directly owned 131,825 shares of the company’s stock, valued at approximately $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by company insiders.

Terreno Realty Trading Up 0.3%

NYSE:TRNO opened at $66.42 on Wednesday. Terreno Realty Corporation has a one year low of $55.71 and a one year high of $78.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $7.24 billion, a P/E ratio of 17.81 and a beta of 1.03. The firm has a 50-day simple moving average of $69.30 and a 200-day simple moving average of $66.33.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The firm had revenue of $124.71 million during the quarter, compared to analysts’ expectations of $127.15 million. Equities analysts anticipate that Terreno Realty Corporation will post 2.83 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 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.57 per share. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.28 annualized dividend and a yield of 3.4%. Terreno Realty’s payout ratio is 55.76%.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.