Bank of New York Mellon Corp Buys Shares of 831,700 Terreno Realty Corporation $TRNO

Bank of New York Mellon Corp purchased a new stake in shares of Terreno Realty Corporation (NYSE:TRNO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 831,700 shares of the real estate investment trust’s stock, valued at approximately $53,869,000.

A number of other hedge funds have also modified their holdings of TRNO. Clearstead Trust LLC acquired a new position in Terreno Realty in the 2nd quarter worth about $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Terreno Realty by 57.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 159 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Terreno Realty in the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised 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 purchasing an additional 350 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 172 shares during the last quarter.

Terreno Realty Price Performance

NYSE:TRNO opened at $67.57 on Thursday. 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 one year low of $55.71 and a one year high of $78.94. The company has a fifty day moving average price of $69.16 and a 200 day moving average price of $66.31. The stock has a market cap of $7.36 billion, a P/E ratio of 18.12 and a beta of 1.03.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. The company 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%. Analysts anticipate that Terreno Realty Corporation will post 2.82 earnings per share for the current year.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 3.4%. Terreno Realty’s payout ratio is presently 55.76%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TRNO shares. Scotiabank increased their target price on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Piper Sandler boosted their price target on Terreno Realty from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Citigroup upped their price target on Terreno Realty from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Terreno Realty in a research note on Friday, July 31st. Finally, UBS Group set a $68.00 target price on Terreno Realty in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Terreno Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.86.

Insider Activity

In other Terreno Realty news, EVP John Tull Meyer sold 4,447 shares of Terreno Realty stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction of $305,242.08. Following the sale, the executive vice president directly owned 131,825 shares of the company’s stock, valued at approximately $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the sale, the president directly owned 425,381 shares in the company, valued at $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.

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.