The Manufacturers Life Insurance Company Takes $4.01 Million Position in Terreno Realty Corporation $TRNO

The Manufacturers Life Insurance Company bought a new stake in shares of Terreno Realty Corporation (NYSE:TRNO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 61,849 shares of the real estate investment trust’s stock, valued at approximately $4,006,000. The Manufacturers Life Insurance Company owned approximately 0.06% of Terreno Realty as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of TRNO. BlackRock Inc. purchased a new stake in Terreno Realty in the 2nd quarter worth $1,213,726,000. Principal Financial Group Inc. lifted its position in shares of Terreno Realty by 246.6% in the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock valued at $257,257,000 after acquiring an additional 2,979,982 shares in the last quarter. Norges Bank purchased a new position in shares of Terreno Realty in the fourth quarter valued at about $168,221,000. Bank of New York Mellon Corp bought a new position in shares of Terreno Realty in the second quarter worth about $53,869,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Terreno Realty by 1,252.5% in the first quarter. Janus Henderson Group PLC now owns 642,749 shares of the real estate investment trust’s stock worth $39,487,000 after acquiring an additional 595,225 shares during the period.

Insider Transactions at Terreno Realty

In other Terreno Realty news, EVP John Tull Meyer sold 4,447 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction 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. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Michael A. Coke sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

Terreno Realty Stock Up 0.3%

NYSE TRNO opened at $66.42 on Wednesday. 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 company has a fifty day moving average of $69.30 and a two-hundred day moving average of $66.33. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 17.81 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.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. The business had revenue of $124.71 million for the quarter, compared to analysts’ expectations of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. On average, analysts predict that Terreno Realty Corporation will post 2.83 earnings per share for the current year.

Terreno Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s payout ratio is currently 55.76%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TRNO. Robert W. Baird set a $69.00 target price on Terreno Realty in a research note on Friday, May 8th. Citigroup upped their price target on Terreno Realty from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. The Goldman Sachs Group increased their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 24th. Piper Sandler lifted their price objective on shares of Terreno Realty from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Terreno Realty in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terreno Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.29.

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.