Mechanics Bank Trust Department Takes $208,000 Position in Terreno Realty Corporation $TRNO

Mechanics Bank Trust Department acquired a new position in Terreno Realty Corporation (NYSE:TRNO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,710 shares of the real estate investment trust’s stock, valued at approximately $208,000.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. boosted its holdings in shares of Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 350 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Terreno Realty by 90.2% during the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 378 shares during the period. Blue Trust Inc. boosted its holdings in Terreno Realty by 143.6% in the first quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 655 shares during the last quarter. GAMMA Investing LLC grew its position in Terreno Realty by 840.2% in the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 1,109 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new stake in Terreno Realty during the 4th quarter valued at $104,000.

Insider Transactions at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of Terreno Realty 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 of the company’s stock, valued at $22,253,913.40. The trade was a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

Terreno Realty Stock Up 0.7%

TRNO opened at $58.89 on Tuesday. The company has a market capitalization of $6.08 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06. The firm has a 50-day simple moving average of $56.61 and a two-hundred day simple moving average of $57.82. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $69.82.

Terreno Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, September 29th. This represents a $2.08 annualized dividend and a yield of 3.5%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.49. Terreno Realty’s dividend payout ratio (DPR) is 77.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays raised their price target 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. KeyCorp dropped their target price on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, August 21st. Wells Fargo & Company reduced their price target on shares of 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. The Goldman Sachs Group set a $64.00 price objective on shares of Terreno Realty and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, Piper Sandler boosted their target price on shares of Terreno Realty from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, September 18th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.00.

Terreno Realty 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.