Terreno Realty Co. (NYSE:TRNO) Stock Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 2.0% in the 2nd quarter, Holdings Channel reports. The firm owned 5,051,190 shares of the real estate investment trust’s stock after selling 104,268 shares during the period. Principal Financial Group Inc. owned approximately 0.05% of Terreno Realty worth $298,932,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TRNO. Mather Group LLC. purchased a new position in Terreno Realty in the 1st quarter worth about $31,000. SRS Capital Advisors Inc. lifted its stake in Terreno Realty by 337.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 408 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of Terreno Realty by 123.4% in the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 337 shares during the period. EntryPoint Capital LLC increased its position in shares of Terreno Realty by 80.3% in the first quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 419 shares in the last quarter. Finally, CWM LLC increased its position in shares of Terreno Realty by 58.2% in the second quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 438 shares in the last quarter.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts recently commented on TRNO shares. BNP Paribas assumed coverage on shares of Terreno Realty in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $68.00 price objective for the company. Wedbush reaffirmed a “neutral” rating and issued a $70.00 target price (up previously from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Scotiabank lifted their price target on Terreno Realty from $59.00 to $70.00 and gave the company a “sector perform” rating in a report on Monday. The Goldman Sachs Group increased their price objective on Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, JMP Securities raised their price objective on Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.56.

Terreno Realty Stock Up 1.5 %

NYSE:TRNO traded up $1.00 during trading hours on Friday, reaching $69.05. The company’s stock had a trading volume of 537,195 shares, compared to its average volume of 699,351. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 35.96, a price-to-earnings-growth ratio of 3.23 and a beta of 0.89. Terreno Realty Co. has a one year low of $50.42 and a one year high of $71.63. The business’s 50-day moving average is $65.73 and its 200-day moving average is $61.78.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Monday, September 30th. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio is 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.