Terreno Realty Corporation $TRNO Shares Acquired by Odyssean LLC

Odyssean LLC grew its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 88.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 44,192 shares of the real estate investment trust’s stock after buying an additional 20,687 shares during the period. Odyssean LLC’s holdings in Terreno Realty were worth $2,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Terreno Realty by 21.8% during the 1st quarter. Bank of America Corp DE now owns 912,214 shares of the real estate investment trust’s stock worth $56,028,000 after acquiring an additional 163,347 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Terreno Realty by 7.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust’s stock worth $70,950,000 after purchasing an additional 81,444 shares during the period. Sei Investments Co. boosted its position in Terreno Realty by 16.1% during the first quarter. Sei Investments Co. now owns 275,521 shares of the real estate investment trust’s stock worth $16,923,000 after purchasing an additional 38,218 shares in the last quarter. Bessemer Group Inc. grew its holdings in Terreno Realty by 4.2% in the first quarter. Bessemer Group Inc. now owns 680,641 shares of the real estate investment trust’s stock valued at $41,805,000 after purchasing an additional 27,624 shares during the period. Finally, Resolution Capital Ltd grew its holdings in Terreno Realty by 6.7% in the first quarter. Resolution Capital Ltd now owns 1,623,857 shares of the real estate investment trust’s stock valued at $99,737,000 after purchasing an additional 101,709 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TRNO shares. Cantor Fitzgerald upped their target price on Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Piper Sandler lifted their price target on shares of Terreno Realty from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. KeyCorp upped their price objective on shares of Terreno Realty from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Scotiabank increased their price objective on shares of Terreno Realty from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, The Goldman Sachs Group lifted their target price 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.29.

Insider Transactions at Terreno Realty

In other news, President Michael Coke sold 8,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the sale, the president directly owned 425,381 shares in the company, valued at $29,087,552.78. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Meyer sold 4,447 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction of $305,242.08. Following the completion of the transaction, the executive vice president directly owned 131,825 shares in the company, valued at approximately $9,048,468. This represents a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by corporate insiders.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $65.71 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. Terreno Realty Corporation has a 1 year low of $55.92 and a 1 year high of $78.94. The firm has a market capitalization of $7.16 billion, a PE ratio of 17.62 and a beta of 1.02. The business’s 50 day moving average price is $69.30 and its 200-day moving average price is $66.33.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. The firm had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. As a group, equities research analysts expect that Terreno Realty Corporation will post 2.83 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.5%. Terreno Realty’s payout ratio is currently 55.76%.

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.