The Goldman Sachs Group Increases Terreno Realty (NYSE:TRNO) Price Target to $68.00

Terreno Realty (NYSE:TRNO) had its price target upped by The Goldman Sachs Group from $60.00 to $68.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. Barclays reduced their price target on Terreno Realty from $71.00 to $68.00 and set an overweight rating on the stock in a report on Friday, May 24th. StockNews.com downgraded Terreno Realty from a hold rating to a sell rating in a report on Wednesday, May 15th. JMP Securities restated a market outperform rating and set a $65.00 price target on shares of Terreno Realty in a report on Monday, May 13th. Scotiabank reduced their target price on Terreno Realty from $66.00 to $59.00 and set a sector perform rating on the stock in a report on Thursday, May 16th. Finally, Wedbush reiterated a neutral rating and set a $57.00 target price (down previously from $67.00) on shares of Terreno Realty in a report on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $66.44.

Terreno Realty Stock Up 0.4 %

Shares of NYSE:TRNO opened at $67.75 on Monday. Terreno Realty has a 1 year low of $50.42 and a 1 year high of $69.74. The company has a market cap of $6.55 billion, a PE ratio of 35.29, a P/E/G ratio of 3.30 and a beta of 0.89. 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 stock’s 50-day moving average is $63.27 and its 200 day moving average is $61.19.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $0.49 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.96 annualized dividend and a dividend yield of 2.89%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio is presently 102.08%.

Insider Buying and Selling

In related news, President Michael A. Coke sold 7,500 shares of the company’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 transaction, the president now directly owns 402,164 shares of the company’s stock, valued at approximately $27,560,298.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Terreno Realty news, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the sale, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Michael A. Coke sold 7,500 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.53, for a total value of $513,975.00. Following the sale, the president now owns 402,164 shares in the company, valued at $27,560,298.92. The disclosure for this sale can be found here. Insiders have sold 18,643 shares of company stock worth $1,277,581 in the last 90 days. Insiders own 2.40% of the company’s stock.

Institutional Trading of Terreno Realty

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake in Terreno Realty by 412.0% during the 4th quarter. Hsbc Holdings PLC now owns 205,287 shares of the real estate investment trust’s stock valued at $12,874,000 after purchasing an additional 165,194 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in shares of Terreno Realty by 377.6% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 25,301 shares of the real estate investment trust’s stock worth $1,586,000 after buying an additional 20,004 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Terreno Realty by 33.3% in the 1st quarter. Sei Investments Co. now owns 379,938 shares of the real estate investment trust’s stock worth $25,228,000 after buying an additional 94,813 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Terreno Realty by 107.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 49,548 shares of the real estate investment trust’s stock worth $3,185,000 after buying an additional 25,683 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its stake in shares of Terreno Realty by 24.4% in the 4th quarter. Alberta Investment Management Corp now owns 75,453 shares of the real estate investment trust’s stock worth $4,729,000 after buying an additional 14,820 shares during the last quarter.

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.