Evergreen Capital Management LLC Increases Holdings in Terreno Realty Corporation $TRNO

Evergreen Capital Management LLC increased its stake in Terreno Realty Corporation (NYSE:TRNO) by 38.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,821 shares of the real estate investment trust’s stock after purchasing an additional 1,902 shares during the quarter. Evergreen Capital Management LLC’s holdings in Terreno Realty were worth $431,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new position in shares of Terreno Realty in the first quarter valued at $227,000. Eisler Capital Management Ltd. purchased a new position in shares of Terreno Realty in the first quarter valued at $9,299,000. Ieq Capital LLC purchased a new position in Terreno Realty during the first quarter worth about $218,000. Corebridge Financial Inc. grew its position in Terreno Realty by 1.1% during the first quarter. Corebridge Financial Inc. now owns 51,580 shares of the real estate investment trust’s stock worth $3,261,000 after buying an additional 569 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Terreno Realty during the first quarter worth about $1,509,000.

Insider Activity

In other news, President Michael A. Coke sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the transaction, the president directly owned 412,415 shares in the company, valued at approximately $22,253,913.40. This represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Terreno Realty Price Performance

TRNO opened at $57.77 on Tuesday. The stock has a 50-day moving average price of $56.26 and a 200-day moving average price of $58.80. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $70.10. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.97 billion, a P/E ratio of 22.92, a PEG ratio of 2.46 and a beta of 1.06.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, September 29th. This is an increase from Terreno Realty’s previous quarterly dividend of $0.49. Terreno Realty’s dividend payout ratio (DPR) is currently 77.78%.

Wall Street Analyst Weigh In

Several research firms recently commented on TRNO. KeyCorp reduced their target price on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, August 21st. The Goldman Sachs Group set a $64.00 target price on Terreno Realty and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Wells Fargo & Company reduced their target price on Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Wall Street Zen upgraded Terreno Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Finally, Barclays reduced their target price on Terreno Realty from $57.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 27th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Terreno Realty has a consensus rating of “Hold” and a consensus target price of $62.80.

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.