Truist Financial Corp Increases Stock Position in Terreno Realty Corporation $TRNO

Truist Financial Corp raised its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,948 shares of the real estate investment trust’s stock after buying an additional 572 shares during the period. Truist Financial Corp’s holdings in Terreno Realty were worth $1,119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TRNO. Geneos Wealth Management Inc. lifted its position 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 worth $29,000 after purchasing an additional 350 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Terreno Realty by 90.2% in the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 378 shares during the period. Blue Trust Inc. lifted its position in shares of Terreno Realty by 143.6% in the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 655 shares during the period. GAMMA Investing LLC lifted its position in shares of Terreno Realty by 840.2% in the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 1,109 shares during the period. Finally, Archer Investment Corp purchased a new stake in shares of Terreno Realty in the 1st quarter worth about $160,000.

Terreno Realty Trading Down 2.8%

Shares of NYSE TRNO opened at $55.94 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $5.78 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 2.39 and a beta of 1.04. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $69.20. The firm has a 50-day moving average of $56.90 and a 200 day moving average of $57.05.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.7%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 29th. Terreno Realty’s dividend payout ratio is presently 82.54%.

Wall Street Analyst Weigh In

Several research firms have recently commented on TRNO. The Goldman Sachs Group set a $64.00 target price on shares of Terreno Realty and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terreno Realty in a research report on Wednesday, October 8th. Piper Sandler lifted their price target on shares of Terreno Realty from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, September 18th. KeyCorp lowered their price target on shares of Terreno Realty from $70.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, August 21st. Finally, Cantor Fitzgerald started coverage on shares of Terreno Realty in a research report on Wednesday, October 1st. They set an “overweight” rating and a $70.00 price target for the company. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.70.

Insider Transactions at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of Terreno Realty stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the transaction, the president directly owned 412,415 shares of the company’s stock, valued at approximately $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

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.