Terreno Realty Corporation $TRNO Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Terreno Realty Corporation (NYSE:TRNO) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,639 shares of the real estate investment trust’s stock after selling 12,493 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.07% of Terreno Realty worth $4,816,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TRNO. Clearstead Trust LLC purchased a new stake in shares of Terreno Realty in the second quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its position in Terreno Realty by 57.0% during the first quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Terreno Realty during the second quarter valued at approximately $30,000. Quantbot Technologies LP acquired a new position in Terreno Realty in the 2nd quarter valued at approximately $53,000. Finally, GK Wealth Management LLC acquired a new position in Terreno Realty in the 3rd quarter valued at approximately $62,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TRNO shares. Citigroup reiterated a “market outperform” rating on shares of Terreno Realty in a research report on Wednesday, October 7th. Scotiabank boosted their price target 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. Weiss Ratings lowered shares of Terreno Realty from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 3rd. KeyCorp lifted their price objective on shares of Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, Piper Sandler decreased their price objective on shares of Terreno Realty from $91.00 to $85.00 and set an “overweight” rating for the company in a report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Terreno Realty currently has an average rating of “Moderate Buy” and a consensus price target of $73.47.

Terreno Realty Stock Up 0.2%

Shares of NYSE TRNO traded up $0.14 during mid-day trading on Friday, reaching $64.07. 567,440 shares of the company traded hands, compared to its average volume of 774,099. The company’s fifty day moving average is $66.23 and its two-hundred day moving average is $66.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. Terreno Realty Corporation has a fifty-two week low of $56.09 and a fifty-two week high of $78.94. The stock has a market cap of $6.98 billion, a PE ratio of 17.18 and a beta of 1.03.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. The firm had revenue of $124.71 million during the quarter, compared to analyst estimates of $127.15 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. On average, analysts expect that Terreno Realty Corporation will post 2.84 earnings per share for the current year.

Terreno Realty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were given a $0.57 dividend. 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 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Terreno Realty’s payout ratio is 61.13%.

Insiders Place Their Bets

In related news, EVP John Meyer sold 4,447 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the completion of the sale, the executive vice president directly owned 131,825 shares of the company’s stock, valued at approximately $9,048,468. This represents a 3.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael A. Coke sold 8,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the transaction, the president 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 disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by insiders.

About Terreno Realty

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. Its portfolio is focused primarily on functional, well-located properties that support logistics, distribution, warehousing, and other industrial uses.

The company serves metropolitan areas including Los Angeles, the San Francisco Bay Area, Seattle, New York City and Northern New Jersey, Miami, and Washington, DC Its properties generally include warehouse, distribution, flex, and other industrial facilities leased to businesses across a range of industries.

Terreno Realty was founded in 2009 and became a publicly traded company in 2010.