VIRGINIA RETIREMENT SYSTEMS ET Al Takes $5.98 Million Position in Terreno Realty Corporation $TRNO

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Terreno Realty Corporation (NYSE:TRNO) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 92,385 shares of the real estate investment trust’s stock, valued at approximately $5,984,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of Terreno Realty at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Terreno Realty by 21.8% during the first quarter. Bank of America Corp DE now owns 912,214 shares of the real estate investment trust’s stock worth $56,028,000 after buying an additional 163,347 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Terreno Realty by 16.1% during the first quarter. Sei Investments Co. now owns 275,521 shares of the real estate investment trust’s stock valued at $16,923,000 after buying an additional 38,218 shares during the period. Principal Financial Group Inc. boosted its position in Terreno Realty by 246.6% during the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after acquiring an additional 2,979,982 shares during the last quarter. Bessemer Group Inc. grew its stake in Terreno Realty by 4.2% in the 1st quarter. Bessemer Group Inc. now owns 680,641 shares of the real estate investment trust’s stock worth $41,805,000 after acquiring an additional 27,624 shares during the period. Finally, Resolution Capital Ltd grew its stake in Terreno Realty by 6.7% in the 1st quarter. Resolution Capital Ltd now owns 1,623,857 shares of the real estate investment trust’s stock worth $99,737,000 after acquiring an additional 101,709 shares during the period.

Insider Transactions at Terreno Realty

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

Terreno Realty Stock Up 0.7%

Shares of TRNO opened at $66.14 on Wednesday. The firm has a market cap of $7.21 billion, a PE ratio of 17.73 and a beta of 1.02. The company’s fifty day moving average is $69.33 and its two-hundred day moving average is $66.33. Terreno Realty Corporation has a fifty-two week low of $55.92 and a fifty-two week high of $78.94. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The business had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. Analysts forecast that Terreno Realty Corporation will post 2.83 earnings per share for the current year.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, September 30th. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s dividend payout ratio (DPR) is presently 55.76%.

Analysts Set New Price Targets

TRNO has been the subject of several analyst reports. Scotiabank boosted their price target on Terreno Realty from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Barclays raised their price objective on Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. KeyCorp upped their target price on Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group increased their target price on Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Cantor Fitzgerald increased their target price on Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.29.

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.