Legal & General Group Plc Acquires Shares of 953,594 Terreno Realty Corporation $TRNO

Legal & General Group Plc bought a new position in Terreno Realty Corporation (NYSE:TRNO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 953,594 shares of the real estate investment trust’s stock, valued at approximately $61,764,000. Legal & General Group Plc owned approximately 0.88% of Terreno Realty at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Terreno Realty by 73.3% in the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 189 shares during the period. Wiser Advisor Group LLC bought a new position in Terreno Realty in the third quarter worth approximately $25,000. Clearstead Trust LLC purchased a new position in Terreno Realty during the 2nd quarter worth $28,000. Caitong International Asset Management Co. Ltd increased its holdings in 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. Finally, Geneos Wealth Management Inc. raised its position in Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 350 shares in the last quarter.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $66.57 on Friday. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 17.85 and a beta of 1.03. Terreno Realty Corporation has a 52 week low of $55.71 and a 52 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 has a 50 day moving average of $69.26 and a 200 day moving average of $66.32.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The company had revenue of $124.71 million during the quarter, compared to analyst estimates of $127.15 million. On average, sell-side analysts predict 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. Investors of record on Wednesday, September 30th will be paid a dividend of $0.57 per share. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.4%. Terreno Realty’s dividend payout ratio (DPR) is currently 55.76%.

Insiders Place Their Bets

In related news, President Michael A. Coke sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the sale, the president owned 425,381 shares of the company’s stock, valued at $29,087,552.78. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Tull Meyer sold 4,447 shares of Terreno Realty stock in a transaction dated Tuesday, August 11th. The shares were 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

TRNO has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Terreno Realty in a report on Friday, July 31st. KeyCorp raised their price target on Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Citigroup lifted their price objective on Terreno Realty from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Mizuho upped their price objective on shares of Terreno Realty from $56.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 19th. Finally, Raymond James Financial began coverage on shares of Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. One research 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.86.

Terreno Realty 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.