Tidal Investments LLC Raises Stock Position in Terreno Realty Corporation $TRNO

Tidal Investments LLC grew its stake in shares of Terreno Realty Corporation (NYSE:TRNO) by 28.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 170,058 shares of the real estate investment trust’s stock after acquiring an additional 37,616 shares during the period. Tidal Investments LLC owned about 0.16% of Terreno Realty worth $11,015,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Terreno Realty during the 2nd quarter worth $1,213,726,000. California State Teachers Retirement System lifted its holdings in shares of Terreno Realty by 6,470.7% in the 2nd quarter. California State Teachers Retirement System now owns 7,988,278 shares of the real estate investment trust’s stock worth $517,401,000 after buying an additional 7,866,703 shares during the period. Principal Financial Group Inc. grew its position in shares of Terreno Realty by 246.6% during the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after buying an additional 2,979,982 shares in the last quarter. Norges Bank bought a new position in shares of Terreno Realty during the 4th quarter worth $168,221,000. Finally, Legal & General Group Plc purchased a new position in shares of Terreno Realty during the second quarter valued at $61,764,000.

Insider Activity at Terreno Realty

In other Terreno Realty news, EVP John Meyer sold 4,447 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the sale, the executive vice president directly owned 131,825 shares in the company, valued at $9,048,468. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Coke sold 8,000 shares of Terreno Realty stock in a transaction on Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the transaction, the president directly owned 425,381 shares in the company, valued at $29,087,552.78. This represents a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Terreno Realty from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 3rd. The Goldman Sachs Group raised their target price on shares of Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 24th. UBS Group set a $68.00 price target on shares of Terreno Realty in a report on Thursday, June 18th. Citigroup upped their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company increased their price objective on shares of Terreno Realty from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 1st. 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.29.

Terreno Realty Price Performance

TRNO opened at $65.26 on Friday. The firm has a market capitalization of $7.11 billion, a PE ratio of 17.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The business’s 50-day moving average is $69.23 and its two-hundred day moving average is $66.32. Terreno Realty Corporation has a 1 year low of $55.92 and a 1 year high of $78.94.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results 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. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The business had revenue of $124.71 million for the quarter, compared to analysts’ expectations of $127.15 million. Research analysts anticipate that Terreno Realty Corporation will post 2.83 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 3.5%. Terreno Realty’s dividend payout ratio is currently 55.76%.

About Terreno Realty

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. The company focuses primarily on functional, well-located properties that support distribution, transportation, and other industrial activities.

Terreno’s portfolio includes warehouses, distribution facilities, transshipment buildings, and industrial properties that may offer outdoor storage or other specialized features. Its strategy emphasizes infill locations with access to population centers, transportation infrastructure, ports, airports, and other important logistics networks.

The company serves six key coastal markets: Los Angeles, Northern New Jersey and New York City, the San Francisco Bay Area, Seattle, Miami, and Washington, DC Terreno Realty was founded in 2009 and became a publicly traded company in 2010.