Sanctuary Advisors LLC Invests $1.15 Million in Terreno Realty Co. (NYSE:TRNO)

Sanctuary Advisors LLC acquired a new position in Terreno Realty Co. (NYSE:TRNO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 21,183 shares of the real estate investment trust’s stock, valued at approximately $1,147,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Terreno Realty by 7.6% in the first quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock worth $861,988,000 after buying an additional 919,851 shares during the period. Principal Financial Group Inc. grew its stake in shares of Terreno Realty by 16.4% in the first quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock worth $342,322,000 after purchasing an additional 727,995 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Terreno Realty by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust’s stock worth $276,381,000 after purchasing an additional 291,051 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Terreno Realty by 7.3% in the second quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock worth $127,287,000 after purchasing an additional 146,808 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Terreno Realty by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,383,262 shares of the real estate investment trust’s stock worth $81,862,000 after purchasing an additional 103,833 shares during the last quarter.

Insider Activity

In other news, EVP John Tull Meyer sold 6,145 shares of Terreno Realty stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 110,988 shares in the company, valued at approximately $7,618,216.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 101,927 shares in the company, valued at $6,970,787.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the transaction, the executive vice president now owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,643 shares of company stock worth $1,277,581. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company cut Terreno Realty from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $71.00 to $75.00 in a research note on Wednesday, August 28th. The Goldman Sachs Group raised their target price on Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Wedbush reissued a “neutral” rating and issued a $70.00 target price (up from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. Scotiabank raised their target price on Terreno Realty from $59.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Wolfe Research raised Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $69.56.

Terreno Realty Stock Performance

Terreno Realty stock opened at $62.57 on Friday. The stock’s 50 day simple moving average is $67.82 and its two-hundred day simple moving average is $62.57. Terreno Realty Co. has a fifty-two week low of $50.42 and a fifty-two week high of $71.63. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 3.02 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $89.07 million. As a group, analysts expect that Terreno Realty Co. will post 2.42 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 11th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.13%. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

About Terreno Realty

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.