Jupiter Topco LLC Makes New Investment in Terreno Realty Corporation $TRNO

Jupiter Topco LLC bought a new position in shares of Terreno Realty Corporation (NYSE:TRNO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 598,405 shares of the real estate investment trust’s stock, valued at approximately $38,778,000.

A number of other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in shares of Terreno Realty by 57.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 159 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Terreno Realty by 52.8% during 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 purchasing an additional 172 shares during the period. UMB Bank n.a. boosted its position in shares of Terreno Realty by 49.4% during the 4th quarter. UMB Bank n.a. now owns 535 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 177 shares during the period. Smartleaf Asset Management LLC increased its holdings in Terreno Realty by 15.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 193 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Terreno Realty by 2.8% in the 3rd quarter. Mackenzie Financial Corp now owns 7,072 shares of the real estate investment trust’s stock valued at $401,000 after purchasing an additional 193 shares during the last quarter.

Terreno Realty Price Performance

Shares of TRNO opened at $67.12 on Friday. The company has a market cap of $7.31 billion, a P/E ratio of 18.00 and a beta of 1.03. Terreno Realty Corporation has a fifty-two week low of $55.71 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. The firm’s 50 day moving average price is $69.21 and its 200 day moving average price is $66.32.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. The company had revenue of $124.71 million during the quarter, compared to analysts’ expectations of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. On average, research analysts forecast that Terreno Realty Corporation will post 2.82 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

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

Insiders Place Their Bets

In related 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction, the executive vice president directly owned 131,825 shares of the company’s stock, valued at $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TRNO. KeyCorp upped their price target on Terreno Realty from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Cantor Fitzgerald lifted their price objective on Terreno Realty from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. The Goldman Sachs Group boosted their price objective on Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 24th. Raymond James Financial started coverage on Terreno Realty in a research note on Wednesday, June 17th. They set an “underperform” rating on the stock. Finally, Wells Fargo & Company lowered their target price on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Terreno Realty has an average rating of “Moderate Buy” and a consensus price target of $72.86.

About Terreno Realty

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.