Wellington Management Group LLP Has $53.40 Million Stock Position in Terreno Realty Corporation $TRNO

Wellington Management Group LLP grew its holdings in Terreno Realty Corporation (NYSE:TRNO) by 6.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 824,485 shares of the real estate investment trust’s stock after acquiring an additional 46,960 shares during the period. Wellington Management Group LLP’s holdings in Terreno Realty were worth $53,402,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TRNO. Empowered Funds LLC acquired a new stake in shares of Terreno Realty in the 2nd quarter valued at $248,000. Jefferies Financial Group Inc. bought a new stake in shares of Terreno Realty in the 2nd quarter valued at about $204,000. Public Employees Retirement System of Ohio acquired a new position in Terreno Realty during the second quarter valued at approximately $7,947,000. Corient Private Wealth LP bought a new position in shares of Terreno Realty during the second quarter worth $522,000. Finally, Bamco Inc. NY acquired a new stake in shares of Terreno Realty during the second quarter worth about $4,374,000.

Insider Buying and Selling

In other news, EVP John Meyer sold 4,447 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the transaction, the executive vice president owned 131,825 shares of the company’s stock, valued at $9,048,468. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the transaction, 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. 1.90% of the stock is owned by corporate insiders.

Terreno Realty Trading Down 0.4%

TRNO opened at $65.49 on Friday. The company has a 50-day simple moving average of $69.31 and a 200 day simple moving average of $66.34. Terreno Realty Corporation has a twelve month low of $55.92 and a twelve month high of $78.94. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 17.56 and a beta of 1.02.

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

Terreno Realty Increases Dividend

The business 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is currently 55.76%.

Analyst Ratings Changes

A number of equities analysts have issued reports on TRNO shares. KeyCorp increased their target price on Terreno Realty from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Barclays boosted their price target on Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Raymond James Financial started coverage on shares of Terreno Realty in a research note on Wednesday, June 17th. They issued an “underperform” rating for the company. Wells Fargo & Company raised their target price on shares of Terreno Realty from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Citigroup upped their price objective on Terreno Realty from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terreno Realty currently has a consensus rating of “Moderate Buy” and an average price target of $73.29.

About Terreno Realty

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.