John Tull Meyer Sells 4,758 Shares of Terreno Realty (NYSE:TRNO) Stock

Terreno Realty Corporation (NYSE:TRNO) EVP John Tull Meyer sold 4,758 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $59.95, for a total transaction of $285,242.10. Following the sale, the executive vice president owned 119,949 shares of the company’s stock, valued at approximately $7,190,942.55. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Terreno Realty Stock Performance

TRNO stock opened at $60.96 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $69.20. The company has a market cap of $6.30 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The stock’s fifty day moving average price is $58.53 and its 200-day moving average price is $57.41.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The company had revenue of $116.25 million during the quarter, compared to analysts’ expectations of $114.62 million. Terreno Realty had a return on equity of 6.71% and a net margin of 59.56%. On average, equities analysts forecast that Terreno Realty Corporation will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Monday, December 15th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. Terreno Realty’s dividend payout ratio (DPR) is presently 82.54%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TRNO shares. KeyCorp cut their target price 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. UBS Group set a $71.00 price objective on shares of Terreno Realty in a research report on Tuesday, October 21st. The Goldman Sachs Group upped their price objective on Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Wells Fargo & Company lowered their target price on Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. Finally, Piper Sandler boosted their price target on Terreno Realty from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.00.

Institutional Trading of Terreno Realty

Several institutional investors and hedge funds have recently modified their holdings of TRNO. Cerity Partners LLC grew its holdings in shares of Terreno Realty by 233.9% in the first quarter. Cerity Partners LLC now owns 19,194 shares of the real estate investment trust’s stock valued at $1,213,000 after purchasing an additional 13,445 shares in the last quarter. New York State Teachers Retirement System lifted its position in Terreno Realty by 0.9% during the first quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust’s stock valued at $1,448,000 after purchasing an additional 200 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Terreno Realty by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,884,086 shares of the real estate investment trust’s stock worth $119,112,000 after buying an additional 45,583 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Terreno Realty by 2.2% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 112,252 shares of the real estate investment trust’s stock worth $6,294,000 after buying an additional 2,463 shares in the last quarter. Finally, Amundi increased its holdings in shares of Terreno Realty by 9.3% in the 1st quarter. Amundi now owns 56,495 shares of the real estate investment trust’s stock worth $3,272,000 after buying an additional 4,785 shares during the last quarter.

Terreno Realty Company Profile

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.