Terreno Realty Co. (NYSE:TRNO) CFO Sells $341,813.22 in Stock

Terreno Realty Co. (NYSE:TRNO) CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the sale, the chief financial officer now owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Terreno Realty Stock Performance

NYSE:TRNO opened at $67.75 on Friday. Terreno Realty Co. has a fifty-two week low of $50.42 and a fifty-two week high of $69.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The company has a 50 day moving average price of $63.27 and a 200 day moving average price of $61.19. The stock has a market capitalization of $6.55 billion, a P/E ratio of 35.29, a PEG ratio of 3.30 and a beta of 0.89.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.89%. Terreno Realty’s payout ratio is presently 102.08%.

Hedge Funds Weigh In On Terreno Realty

Several hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in Terreno Realty by 14.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,584 shares of the real estate investment trust’s stock valued at $3,940,000 after acquiring an additional 8,336 shares in the last quarter. DigitalBridge Group Inc. boosted its stake in shares of Terreno Realty by 30.1% in the second quarter. DigitalBridge Group Inc. now owns 175,288 shares of the real estate investment trust’s stock valued at $10,374,000 after purchasing an additional 40,600 shares during the period. AQR Capital Management LLC grew its holdings in shares of Terreno Realty by 48.4% in the second quarter. AQR Capital Management LLC now owns 44,114 shares of the real estate investment trust’s stock valued at $2,611,000 after purchasing an additional 14,386 shares in the last quarter. Xponance Inc. increased its stake in Terreno Realty by 15.9% during the 2nd quarter. Xponance Inc. now owns 6,085 shares of the real estate investment trust’s stock worth $360,000 after buying an additional 833 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Terreno Realty by 238.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,327,932 shares of the real estate investment trust’s stock worth $78,587,000 after buying an additional 935,418 shares in the last quarter.

Wall Street Analysts Forecast Growth

TRNO has been the topic of several recent research reports. Scotiabank lowered their target price on shares of Terreno Realty from $66.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 16th. StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays dropped their price target on Terreno Realty from $71.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Wedbush reiterated a “neutral” rating and set a $57.00 price objective (down previously from $67.00) on shares of Terreno Realty in a research report on Tuesday, May 14th. Finally, JMP Securities upped their target price on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Terreno Realty presently has an average rating of “Moderate Buy” and an average price target of $66.44.

About Terreno Realty

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.