State of Alaska Department of Revenue Sells 12,493 Shares of Terreno Realty Corporation $TRNO

State of Alaska Department of Revenue lessened its holdings in shares of Terreno Realty Corporation (NYSE:TRNO) by 14.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 74,639 shares of the real estate investment trust’s stock after selling 12,493 shares during the period. State of Alaska Department of Revenue’s holdings in Terreno Realty were worth $4,816,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Terreno Realty in the 2nd quarter valued at approximately $1,213,726,000. Principal Financial Group Inc. lifted its holdings in shares of Terreno Realty by 246.6% during the first 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 during the last quarter. Legal & General Group Plc bought a new stake in shares of Terreno Realty in the second quarter valued at approximately $61,764,000. Bank of New York Mellon Corp bought a new stake in shares of Terreno Realty in the second quarter valued at approximately $53,869,000. Finally, Bank of America Corp DE acquired a new stake in shares of Terreno Realty in the second quarter worth $52,358,000.

Insider Buying and Selling at Terreno Realty

In other news, EVP John Meyer sold 4,447 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were 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 directly owned 131,825 shares of the company’s stock, valued at approximately $9,048,468. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the sale, the president owned 425,381 shares in the company, valued at approximately $29,087,552.78. This trade represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company’s stock.

Terreno Realty Stock Performance

Shares of NYSE:TRNO traded up $0.14 during trading on Friday, hitting $64.07. 567,440 shares of the stock were exchanged, compared to its average volume of 774,099. Terreno Realty Corporation has a 1-year low of $56.09 and a 1-year high of $78.94. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 17.18 and a beta of 1.03. The company’s fifty day simple moving average is $66.23 and its 200-day simple moving average is $66.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) 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 return on equity of 9.21% and a net margin of 77.22%. Sell-side analysts expect that Terreno Realty Corporation will post 2.84 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a $0.57 dividend. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.28 annualized dividend and a yield of 3.6%. Terreno Realty’s payout ratio is presently 61.13%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BMO Capital Markets raised shares of Terreno Realty from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Monday, October 12th. Mizuho increased their price target on shares of Terreno Realty from $56.00 to $60.00 and gave the company an “underperform” rating in a report on Wednesday, August 19th. Royal Bank Of Canada set a $73.00 price target on shares of Terreno Realty in a research report on Wednesday, October 7th. Piper Sandler dropped their price objective on shares of Terreno Realty from $91.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday. Finally, KeyCorp upped their price objective on shares of Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.47.

About Terreno Realty

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. Its portfolio is focused primarily on functional, well-located properties that support logistics, distribution, warehousing, and other industrial uses.

The company serves metropolitan areas including Los Angeles, the San Francisco Bay Area, Seattle, New York City and Northern New Jersey, Miami, and Washington, DC Its properties generally include warehouse, distribution, flex, and other industrial facilities leased to businesses across a range of industries.

Terreno Realty was founded in 2009 and became a publicly traded company in 2010.