Insider Selling: Terreno Realty (NYSE:TRNO) President Sells $547,040.00 in Stock

Terreno Realty Corporation (NYSE:TRNO) 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 value of $547,040.00. Following the transaction, the president directly owned 425,381 shares of the company’s stock, valued at $29,087,552.78. The trade was a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Terreno Realty Stock Performance

NYSE TRNO opened at $68.70 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50 day simple moving average is $68.62 and its 200-day simple moving average is $65.87. The company has a market cap of $7.49 billion, a PE ratio of 18.42 and a beta of 1.03. Terreno Realty Corporation has a 1-year low of $53.46 and a 1-year high of $78.94.

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, topping the consensus estimate of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The firm had revenue of $124.71 million during the quarter, compared to analysts’ expectations of $127.15 million. As a group, equities research analysts anticipate that Terreno Realty Corporation will post 2.82 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. Terreno Realty’s payout ratio is currently 55.76%.

Analysts Set New Price Targets

TRNO has been the topic of several research reports. Robert W. Baird set a $69.00 price target on shares of Terreno Realty in a research note on Friday, May 8th. Citigroup upped their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday. Scotiabank reissued an “outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Terreno Realty in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 189 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in Terreno Realty in the 3rd quarter valued at about $25,000. Clearstead Trust LLC acquired a new position in Terreno Realty in the 2nd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 172 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 350 shares during the period.

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.