Westpac Banking Corp Acquires New Holdings in Terreno Realty Corporation $TRNO

Westpac Banking Corp bought a new stake in 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 institutional investor bought 13,000 shares of the real estate investment trust’s stock, valued at approximately $842,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Terreno Realty during the second quarter worth $1,213,726,000. State Street Corp increased its position in shares of Terreno Realty by 4.0% in 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 buying an additional 230,444 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Terreno Realty by 246.6% in the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock valued at $257,257,000 after buying an additional 2,979,982 shares in the last quarter. Norges Bank acquired a new stake in Terreno Realty during the 4th quarter worth $168,221,000. Finally, Geode Capital Management LLC raised its stake in Terreno Realty by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock worth $159,620,000 after buying an additional 17,921 shares during the period.

Terreno Realty Price Performance

Shares of TRNO opened at $68.21 on Friday. 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 Corporation has a twelve month low of $55.70 and a twelve month high of $78.94. The stock has a market capitalization of $7.43 billion, a P/E ratio of 18.29 and a beta of 1.03. The company has a 50 day moving average of $69.00 and a 200-day moving average of $66.19.

Terreno Realty (NYSE:TRNO) last announced 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 net margin of 77.22% and a return on equity of 9.21%. The business had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.15 million. As a group, equities research analysts forecast that Terreno Realty Corporation will post 2.82 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.3%. 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

Several research analysts have weighed in on the company. Raymond James Financial initiated coverage on Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. Scotiabank upped their target price on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Citigroup upped their target price on shares of Terreno Realty from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Robert W. Baird set a $69.00 target price on Terreno Realty in a report on Friday, May 8th. Finally, Wells Fargo & Company dropped their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.86.

Insider Activity

In other news, EVP John Tull Meyer sold 4,447 shares of the firm’s stock in a transaction dated 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 owned 131,825 shares in the company, valued at $9,048,468. This trade represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the sale, the president directly owned 425,381 shares in the company, valued at approximately $29,087,552.78. This represents a 1.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company’s stock.

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.