Mutual of America Capital Management LLC Boosts Position in Terreno Realty Co. (NYSE:TRNO)

Mutual of America Capital Management LLC grew its stake in Terreno Realty Co. (NYSE:TRNO) by 9.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 86,727 shares of the real estate investment trust’s stock after acquiring an additional 7,483 shares during the period. Mutual of America Capital Management LLC’s holdings in Terreno Realty were worth $5,133,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in TRNO. Covestor Ltd lifted its position in shares of Terreno Realty by 7.2% during the first quarter. Covestor Ltd now owns 2,950 shares of the real estate investment trust’s stock worth $196,000 after purchasing an additional 197 shares in the last quarter. Caprock Group LLC boosted its holdings in Terreno Realty by 2.1% in the first quarter. Caprock Group LLC now owns 14,355 shares of the real estate investment trust’s stock valued at $960,000 after purchasing an additional 292 shares during the period. Whittier Trust Co. increased its holdings in Terreno Realty by 123.4% during the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 337 shares during the period. American International Group Inc. boosted its stake in shares of Terreno Realty by 0.9% in the 1st quarter. American International Group Inc. now owns 41,600 shares of the real estate investment trust’s stock valued at $2,762,000 after buying an additional 368 shares during the period. Finally, Capital Square LLC increased its stake in shares of Terreno Realty by 2.2% during the second quarter. Capital Square LLC now owns 18,061 shares of the real estate investment trust’s stock worth $1,069,000 after buying an additional 394 shares during the period.

Insider Buying and Selling

In other news, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the sale, the chief financial officer now owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the sale, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. The disclosure for this sale can be found here. Insiders sold 18,643 shares of company stock valued at $1,277,581 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TRNO has been the topic of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, August 12th. BNP Paribas began coverage on shares of Terreno Realty in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $68.00 target price on the stock. Scotiabank boosted their target price on Terreno Realty from $59.00 to $70.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Wedbush reaffirmed a “neutral” rating and issued a $70.00 target price (up from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. Finally, StockNews.com lowered Terreno Realty from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $69.56.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $68.38 on Friday. The company’s fifty day simple moving average is $68.20 and its 200-day simple moving average is $62.35. The company has a market cap of $6.61 billion, a PE ratio of 35.61, a P/E/G ratio of 3.20 and a beta of 0.90. Terreno Realty Co. has a 52 week low of $50.42 and a 52 week high of $71.63. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. The business had revenue of $94.25 million for the quarter, compared to analyst estimates of $89.07 million. As a group, equities research analysts anticipate that Terreno Realty Co. will post 2.42 EPS for the current year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

Terreno Realty Company 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.