Terreno Realty Co. (NYSE:TRNO) Shares Sold by Davis Selected Advisers

Davis Selected Advisers reduced its stake in Terreno Realty Co. (NYSE:TRNO) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,467 shares of the real estate investment trust’s stock after selling 150 shares during the period. Davis Selected Advisers owned 0.16% of Terreno Realty worth $9,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TRNO. Covestor Ltd boosted its position in shares of Terreno Realty by 7.2% during the 1st quarter. Covestor Ltd now owns 2,950 shares of the real estate investment trust’s stock valued at $196,000 after purchasing an additional 197 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Terreno Realty by 5.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,546 shares of the real estate investment trust’s stock worth $348,000 after buying an additional 269 shares during the period. Caprock Group LLC lifted its stake in Terreno Realty by 2.1% during the first quarter. Caprock Group LLC now owns 14,355 shares of the real estate investment trust’s stock valued at $960,000 after buying an additional 292 shares in the last quarter. Westpac Banking Corp lifted its holdings in shares of Terreno Realty by 2.1% in the fourth quarter. Westpac Banking Corp now owns 15,616 shares of the real estate investment trust’s stock valued at $979,000 after purchasing an additional 323 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of Terreno Realty by 123.4% during the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 337 shares in the last quarter.

Insider Activity at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the completion of the sale, the president now owns 402,164 shares of the company’s stock, valued at $27,560,298.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Michael A. Coke sold 7,500 shares of Terreno Realty stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.53, for a total transaction of $513,975.00. Following the completion of the transaction, the president now directly owns 402,164 shares in the company, valued at $27,560,298.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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. 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. Corporate insiders own 2.40% of the company’s stock.

Terreno Realty Trading Up 0.6 %

TRNO traded up $0.41 during midday trading on Monday, hitting $68.99. 21,789 shares of the company were exchanged, compared to its average volume of 695,795. 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’s 50 day moving average price is $66.73 and its 200-day moving average price is $61.98. Terreno Realty Co. has a 1-year low of $50.42 and a 1-year high of $71.63. The firm has a market capitalization of $6.69 billion, a P/E ratio of 35.72, a P/E/G ratio of 3.15 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last issued its earnings results 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). The business had revenue of $94.25 million during the quarter, compared to the consensus estimate of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. As a group, equities analysts forecast that Terreno Realty Co. will post 2.42 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.49 dividend. The ex-dividend date is Monday, September 30th. 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 2.84%. Terreno Realty’s dividend payout ratio (DPR) is currently 93.75%.

Wall Street Analyst Weigh In

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

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.