Mutual of America Capital Management LLC Trims Stock Position in Terreno Realty Corporation $TRNO

Mutual of America Capital Management LLC cut its stake in shares of Terreno Realty Corporation (NYSE:TRNO) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,860 shares of the real estate investment trust’s stock after selling 233 shares during the period. Mutual of America Capital Management LLC owned approximately 0.10% of Terreno Realty worth $5,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRNO. Nuveen LLC purchased a new stake in Terreno Realty during the 1st quarter valued at approximately $83,095,000. Price T Rowe Associates Inc. MD raised its stake in shares of Terreno Realty by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock worth $262,918,000 after buying an additional 523,950 shares in the last quarter. Resolution Capital Ltd raised its stake in shares of Terreno Realty by 13.6% during the 1st quarter. Resolution Capital Ltd now owns 1,610,253 shares of the real estate investment trust’s stock worth $101,800,000 after buying an additional 192,268 shares in the last quarter. Eisler Capital Management Ltd. purchased a new position in shares of Terreno Realty during the 1st quarter worth approximately $9,299,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Terreno Realty by 2.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust’s stock worth $333,261,000 after buying an additional 125,940 shares in the last quarter.

Wall Street Analysts Forecast Growth

TRNO has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Terreno Realty in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their target price on Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald initiated coverage on Terreno Realty in a research note on Wednesday, October 1st. They set an “overweight” rating and a $70.00 target price for the company. Barclays increased their target price on Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 15th. Finally, KeyCorp cut their target price on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.00.

Terreno Realty Stock Performance

TRNO opened at $61.65 on Wednesday. The stock has a market cap of $6.37 billion, a P/E ratio of 24.46, a P/E/G ratio of 2.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. The stock’s 50 day simple moving average is $57.67 and its 200 day simple moving average is $57.01. Terreno Realty Corporation has a 1-year low of $48.18 and a 1-year high of $69.20.

Terreno Realty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 29th were issued a $0.52 dividend. The ex-dividend date was Monday, September 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.49. Terreno Realty’s payout ratio is currently 82.54%.

Insider Buying and Selling at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the sale, the president owned 412,415 shares in the company, valued at $22,253,913.40. This represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

About Terreno Realty

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.