Cornercap Investment Counsel Inc. Boosts Stock Position in Terreno Realty Co. (NYSE:TRNO)

Cornercap Investment Counsel Inc. boosted its position in Terreno Realty Co. (NYSE:TRNO) by 5.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 13,318 shares of the real estate investment trust’s stock after purchasing an additional 643 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Terreno Realty were worth $788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Terreno Realty by 7.6% during 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 in the last quarter. Norges Bank purchased a new stake in Terreno Realty in the 4th quarter worth approximately $54,302,000. Principal Financial Group Inc. raised its holdings in Terreno Realty by 16.4% in the 1st quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock valued at $342,322,000 after acquiring an additional 727,995 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Terreno Realty by 91,086.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 713,076 shares of the real estate investment trust’s stock worth $44,688,000 after purchasing an additional 712,294 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Terreno Realty by 7.5% during 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.

Insider Buying and Selling

In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the stock in a transaction that occurred on 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 owns 110,988 shares of the company’s stock, valued at $7,618,216.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $421,792.80. Following the transaction, the executive vice president now owns 110,988 shares in the company, valued at approximately $7,618,216.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were 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 $6,970,787.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,643 shares of company stock valued at $1,277,581. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

TRNO has been the topic of several recent analyst reports. StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Wells Fargo & Company cut shares of 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 report on Wednesday, August 28th. JMP Securities upped their price target on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group lifted their price target 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. Finally, Mizuho restated an “underperform” rating and set a $62.00 price objective on shares of Terreno Realty in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Terreno Realty has an average rating of “Hold” and an average price target of $69.56.

Terreno Realty Price Performance

Terreno Realty stock opened at $69.52 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.74 billion, a P/E ratio of 36.21, a PEG ratio of 3.13 and a beta of 0.90. The firm has a fifty day moving average of $67.57 and a 200-day moving average of $62.20. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO) last announced its quarterly 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). The company had revenue of $94.25 million during the quarter, compared to analyst estimates of $89.07 million. Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. As a group, analysts predict that Terreno Realty Co. will post 2.42 EPS for the current year.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a dividend of $0.49 per share. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Monday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is presently 93.75%.

Terreno Realty 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.