Chevy Chase Trust Holdings LLC Cuts Stock Position in Terreno Realty Co. (NYSE:TRNO)

Chevy Chase Trust Holdings LLC lessened its stake in Terreno Realty Co. (NYSE:TRNO) by 3.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 870,755 shares of the real estate investment trust’s stock after selling 29,489 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Terreno Realty were worth $51,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Terreno Realty by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock worth $861,988,000 after acquiring an additional 919,851 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Terreno Realty by 16.4% during the 1st quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock worth $342,322,000 after purchasing an additional 727,995 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Terreno Realty by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust’s stock worth $276,381,000 after purchasing an additional 291,051 shares during the last quarter. Schroder Investment Management Group boosted its stake in Terreno Realty by 0.7% during the 4th quarter. Schroder Investment Management Group now owns 1,285,232 shares of the real estate investment trust’s stock worth $80,545,000 after purchasing an additional 8,984 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Terreno Realty by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,223,247 shares of the real estate investment trust’s stock worth $76,663,000 after purchasing an additional 20,257 shares during the last quarter.

Terreno Realty Trading Up 0.3 %

NYSE TRNO traded up $0.22 during trading hours on Wednesday, reaching $68.05. The company had a trading volume of 92,925 shares, compared to its average volume of 699,157. The stock has a 50-day moving average of $63.94 and a 200 day moving average of $61.35. Terreno Realty Co. has a 1-year low of $50.42 and a 1-year high of $69.74. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $6.59 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 3.29 and a beta of 0.89.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a $0.49 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a yield of 2.88%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio is presently 93.75%.

Insider Buying and Selling at Terreno Realty

In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the sale, the executive vice president now directly owns 110,988 shares in the company, valued at $7,618,216.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Terreno Realty news, President Michael A. Coke sold 7,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.53, for a total transaction of $513,975.00. Following the sale, the president now directly owns 402,164 shares in the company, valued at $27,560,298.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the sale, the executive vice president now owns 110,988 shares in the company, valued at $7,618,216.32. The disclosure for this sale can be found here. Insiders have sold 18,643 shares of company stock valued at $1,277,581 over the last 90 days. 2.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on TRNO. Barclays lowered their target price on shares of Terreno Realty from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. The Goldman Sachs Group lifted their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Scotiabank lowered their price target on shares of Terreno Realty from $66.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 16th. StockNews.com raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Wedbush reissued a “neutral” rating and set a $70.00 price target (up previously from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Terreno Realty has an average rating of “Moderate Buy” and a consensus target price of $67.89.

Terreno Realty Profile

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.