Insider Selling: Terreno Realty (NYSE:TRNO) EVP Sells $285,242.10 in Stock

Terreno Realty Corporation (NYSE:TRNO) EVP John Tull Meyer sold 4,758 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $59.95, for a total value of $285,242.10. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Terreno Realty Price Performance

Shares of TRNO traded up $1.98 during midday trading on Friday, hitting $60.96. 660,298 shares of the company traded hands, compared to its average volume of 860,096. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $69.20. The firm has a market cap of $6.30 billion, a P/E ratio of 24.19, a PEG ratio of 2.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a 50-day moving average of $58.53 and a 200-day moving average of $57.41.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The company 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%. As a group, sell-side analysts predict that Terreno Realty Corporation will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 15th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, December 15th. Terreno Realty’s dividend payout ratio (DPR) is presently 82.54%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRNO. UBS Group set a $71.00 price target on shares of Terreno Realty in a report on Tuesday, October 21st. Barclays upped their target price on Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 15th. Cantor Fitzgerald initiated coverage on Terreno Realty in a report on Wednesday, October 1st. They issued an “overweight” rating and a $70.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Terreno Realty in a report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on shares of 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. 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.com, the company has a consensus rating of “Hold” and a consensus target price of $65.00.

Institutional Investors Weigh In On Terreno Realty

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Terreno Realty by 4.0% during the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after purchasing an additional 230,444 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in 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 buying an additional 125,940 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Terreno Realty by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock worth $262,918,000 after buying an additional 523,950 shares in the last quarter. Norges Bank bought a new position in Terreno Realty during the second quarter valued at approximately $156,525,000. Finally, Geode Capital Management LLC grew its position in Terreno Realty by 3.6% during the second quarter. Geode Capital Management LLC now owns 2,631,838 shares of the real estate investment trust’s stock valued at $147,584,000 after acquiring an additional 92,519 shares during the last quarter.

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.