Chevy Chase Trust Holdings LLC Reduces Holdings in Terreno Realty Co. (NYSE:TRNO)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 870,755 shares of the real estate investment trust’s stock after selling 29,489 shares during the period. Chevy Chase Trust Holdings LLC owned 0.90% of Terreno Realty worth $51,531,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TRNO. Vanguard Group Inc. lifted its position in Terreno Realty by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock valued at $861,988,000 after acquiring an additional 919,851 shares during the period. Norges Bank purchased a new position in Terreno Realty during the 4th quarter valued at about $54,302,000. Principal Financial Group Inc. increased its stake in Terreno Realty by 16.4% during 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 purchasing an additional 727,995 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in 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 valued at $44,688,000 after purchasing an additional 712,294 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Terreno Realty by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust’s stock valued at $276,381,000 after purchasing an additional 291,051 shares in the last quarter.

Terreno Realty Stock Performance

NYSE TRNO traded up $0.22 during trading hours on Wednesday, hitting $68.05. 92,925 shares of the company’s stock traded hands, compared to its average volume of 699,157. The business’s fifty day moving average price is $63.94 and its two-hundred day moving average price is $61.35. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.59 billion, a P/E ratio of 35.31, a P/E/G ratio of 3.29 and a beta of 0.89. Terreno Realty Co. has a 52 week low of $50.42 and a 52 week high of $69.74.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.88%. 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 payout ratio is 93.75%.

Insider Activity at Terreno Realty

In related news, President Michael A. Coke sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.53, for a total transaction of $513,975.00. Following the completion of the sale, the president now directly owns 402,164 shares in the company, valued at $27,560,298.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Terreno Realty news, President Michael A. Coke sold 7,500 shares of Terreno Realty stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.53, for a total transaction of $513,975.00. Following the transaction, 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 through the SEC website. Also, 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 transaction of $341,813.22. Following the transaction, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. 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. 2.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TRNO shares. StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Wedbush restated a “neutral” rating and set a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. BNP Paribas started coverage on shares of Terreno Realty in a research note on Tuesday, June 4th. They set an “outperform” rating and a $68.00 price objective for the company. JMP Securities raised their price objective on shares of Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Terreno Realty presently has an average rating of “Moderate Buy” and an average price target of $67.89.

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.