MQS Management LLC Takes Position in Terreno Realty Corporation $TRNO

MQS Management LLC bought a new position in shares of Terreno Realty Corporation (NYSE:TRNO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,923 shares of the real estate investment trust’s stock, valued at approximately $500,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norinchukin Bank The grew its holdings in Terreno Realty by 4.5% during the first quarter. Norinchukin Bank The now owns 4,606 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 197 shares during the period. New York State Teachers Retirement System grew its holdings in Terreno Realty by 0.9% during the first quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust’s stock worth $1,448,000 after acquiring an additional 200 shares during the period. Alliance Wealth Advisors LLC UT grew its holdings in Terreno Realty by 2.2% during the first quarter. Alliance Wealth Advisors LLC UT now owns 9,297 shares of the real estate investment trust’s stock worth $588,000 after acquiring an additional 200 shares during the period. Fifth Third Bancorp grew its holdings in Terreno Realty by 3.2% during the second quarter. Fifth Third Bancorp now owns 6,423 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 202 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Terreno Realty by 3.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,079 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 208 shares during the period.

Wall Street Analyst Weigh In

TRNO has been the topic of several analyst reports. UBS Group set a $71.00 target price on Terreno Realty in a report on Tuesday. Barclays raised their target price on Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, September 15th. The Goldman Sachs Group raised their target price on Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company lowered their price target on Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. Finally, Piper Sandler increased their price target on Terreno Realty from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, September 18th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Terreno Realty currently has an average rating of “Hold” and a consensus price target of $65.00.

Insider Buying and Selling at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 owned 412,415 shares in the company, valued at $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by company insiders.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $61.06 on Friday. The company has a market capitalization of $6.31 billion, a P/E ratio of 24.23, a P/E/G ratio of 2.62 and a beta of 1.04. The business’s 50 day moving average is $58.07 and its two-hundred day moving average is $57.21. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $69.20.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were given a dividend of $0.52 per share. This is an increase from Terreno Realty’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, September 29th. Terreno Realty’s dividend payout ratio (DPR) is currently 82.54%.

About Terreno Realty

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.