Insider Selling: Terreno Realty (NYSE:TRNO) EVP Sells 4,447 Shares of Stock

Terreno Realty Corporation (NYSE:TRNO) EVP John Tull Meyer sold 4,447 shares of Terreno Realty 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 transaction, the executive vice president 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 SEC, which is available at this hyperlink.

Terreno Realty Price Performance

Shares of NYSE:TRNO remained flat at $68.36 during trading on Tuesday. The stock had a trading volume of 789,954 shares, compared to its average volume of 768,542. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 18.33 and a beta of 1.03. 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 firm’s fifty day moving average price is $68.52 and its two-hundred day moving average price is $65.82. Terreno Realty Corporation has a 1-year low of $53.10 and a 1-year high of $78.94.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The firm had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. On average, equities analysts anticipate that Terreno Realty Corporation will post 2.82 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, September 30th. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s payout ratio is currently 55.76%.

Institutional Investors Weigh In On Terreno Realty

Several institutional investors have recently made changes to their positions in TRNO. EverSource Wealth Advisors LLC grew its stake in shares of Terreno Realty by 73.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 189 shares during the period. Wiser Advisor Group LLC purchased a new stake in Terreno Realty during the third quarter worth about $25,000. Clearstead Trust LLC purchased a new stake in Terreno Realty during the second quarter worth about $28,000. Caitong International Asset Management Co. Ltd grew its position in Terreno Realty by 52.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 172 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Terreno Realty by 304.3% during the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 350 shares during the period.

Analyst Ratings Changes

Several analysts have recently weighed in on TRNO shares. Scotiabank lowered their target price on shares of Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating on the stock in a report on Thursday, June 18th. Piper Sandler increased their price target on shares of Terreno Realty from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. The Goldman Sachs Group raised their price objective 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. Robert W. Baird set a $69.00 price objective on Terreno Realty in a report on Friday, May 8th. Finally, Barclays boosted their target price on Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $71.93.

Terreno Realty Company Profile

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.