VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $5.98 Million Investment in Terreno Realty Corporation $TRNO

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Terreno Realty Corporation (NYSE:TRNO) in the 2nd quarter, Holdings Channel.com reports. The firm bought 92,385 shares of the real estate investment trust’s stock, valued at approximately $5,984,000.

A number of other large investors have also modified their holdings of the stock. California State Teachers Retirement System raised its holdings in shares of Terreno Realty by 6,470.7% during the 2nd quarter. California State Teachers Retirement System now owns 7,988,278 shares of the real estate investment trust’s stock valued at $517,401,000 after buying an additional 7,866,703 shares during the period. AlphaGrep UK Ltd purchased a new position in Terreno Realty in the 2nd quarter worth approximately $265,000. Nykredit A S acquired a new stake in Terreno Realty in the second quarter valued at approximately $231,000. Susquehanna Fundamental Investments LLC acquired a new stake in Terreno Realty in the second quarter valued at approximately $285,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Terreno Realty by 19,261.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 646,088 shares of the real estate investment trust’s stock valued at $41,847,000 after purchasing an additional 642,751 shares during the period.

Insider Activity

In other news, President Michael A. Coke sold 8,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the transaction, the president owned 425,381 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, EVP John Meyer sold 4,447 shares of Terreno Realty 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 of the company’s stock, valued at $9,048,468. This trade represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TRNO. Piper Sandler boosted their target price on shares of Terreno Realty from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Citigroup raised their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, August 10th. The Goldman Sachs Group lifted their price target on shares of Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Cantor Fitzgerald boosted their price objective on shares of Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Finally, Barclays upped their price objective on shares of Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.29.

Terreno Realty Stock Performance

Terreno Realty stock opened at $66.14 on Wednesday. The stock has a market cap of $7.21 billion, a P/E ratio of 17.73 and a beta of 1.02. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $69.33 and a 200-day moving average of $66.33. Terreno Realty Corporation has a 52 week low of $55.92 and a 52 week 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. The business had revenue of $124.71 million during the quarter, compared to analyst estimates of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. On average, analysts expect that Terreno Realty Corporation will post 2.83 EPS 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. Shareholders 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 represents a $2.28 annualized dividend and a yield of 3.4%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s dividend payout ratio (DPR) is 55.76%.

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.