AQR Capital Management LLC Purchases 14,386 Shares of Terreno Realty Co. (NYSE:TRNO)

AQR Capital Management LLC boosted its position in Terreno Realty Co. (NYSE:TRNO) by 48.4% during the second quarter, Holdings Channel reports. The institutional investor owned 44,114 shares of the real estate investment trust’s stock after purchasing an additional 14,386 shares during the quarter. AQR Capital Management LLC’s holdings in Terreno Realty were worth $2,611,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. grew its position in Terreno Realty by 33.3% in the first quarter. Sei Investments Co. now owns 379,938 shares of the real estate investment trust’s stock valued at $25,228,000 after purchasing an additional 94,813 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Terreno Realty by 107.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 49,548 shares of the real estate investment trust’s stock worth $3,185,000 after acquiring an additional 25,683 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Terreno Realty by 10.8% during the first quarter. Public Employees Retirement System of Ohio now owns 133,856 shares of the real estate investment trust’s stock worth $8,888,000 after acquiring an additional 13,064 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Terreno Realty during the first quarter valued at approximately $3,450,000. Finally, Congress Asset Management Co. MA grew its stake in Terreno Realty by 9.5% in the fourth quarter. Congress Asset Management Co. MA now owns 195,317 shares of the real estate investment trust’s stock valued at $12,241,000 after purchasing an additional 16,999 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TRNO. Mizuho reissued an “underperform” rating and issued a $62.00 price objective on shares of Terreno Realty in a report on Thursday, September 5th. Scotiabank lifted their price objective on shares of Terreno Realty from $59.00 to $70.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. JMP Securities upped their target price on shares of Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a report on Tuesday, August 13th. Wells Fargo & Company downgraded Terreno Realty from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $71.00 to $75.00 in a research report on Wednesday, August 28th. Finally, Wolfe Research raised Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.56.

Insider Buying and Selling at Terreno Realty

In other news, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the transaction, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction 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 of the company’s stock, valued at $6,970,787.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,643 shares of company stock valued at $1,277,581. 2.40% of the stock is currently owned by insiders.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $64.71 on Wednesday. The firm has a market cap of $6.27 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 3.02 and a beta of 0.90. Terreno Realty Co. has a 52 week low of $50.42 and a 52 week high of $71.63. The firm’s fifty day moving average is $68.01 and its 200-day moving average is $62.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34.

Terreno Realty (NYSE:TRNO) last released 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 firm had revenue of $94.25 million for 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%. Sell-side analysts predict that Terreno Realty Co. will post 2.42 earnings per share for the current year.

Terreno Realty Increases Dividend

The company 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 $0.49 dividend. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, September 30th. This represents a $1.96 annualized dividend and a yield of 3.03%. Terreno Realty’s payout ratio is presently 102.08%.

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.