Allianz Asset Management GmbH Buys New Shares in Terreno Realty Corporation (NYSE:TRNO)

Allianz Asset Management GmbH acquired a new stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,757 shares of the real estate investment trust's stock, valued at approximately $3,651,000. Allianz Asset Management GmbH owned 0.06% of Terreno Realty as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TRNO. Quarry LP grew its holdings in Terreno Realty by 613.7% during the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 626 shares during the period. Quadrant Capital Group LLC grew its holdings in Terreno Realty by 94.6% during the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 370 shares during the period. Blue Trust Inc. grew its holdings in Terreno Realty by 143.6% during the first quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 655 shares during the period. State of Tennessee Department of Treasury acquired a new stake in Terreno Realty during the fourth quarter worth about $71,000. Finally, FIL Ltd grew its holdings in Terreno Realty by 45.3% during the fourth quarter. FIL Ltd now owns 1,213 shares of the real estate investment trust's stock worth $72,000 after acquiring an additional 378 shares during the period.

Terreno Realty Price Performance

Shares of NYSE TRNO traded down $0.74 during midday trading on Friday, hitting $54.75. The stock had a trading volume of 295,491 shares, compared to its average volume of 925,004. The company has a market capitalization of $5.66 billion, a PE ratio of 27.45, a P/E/G ratio of 2.39 and a beta of 1.06. The stock has a 50 day simple moving average of $57.23 and a 200-day simple moving average of $60.30. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $71.63. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.20.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $1.96 annualized dividend and a yield of 3.6%. Terreno Realty's dividend payout ratio (DPR) is 98.49%.

Analysts Set New Price Targets

Several research firms recently commented on TRNO. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Wells Fargo & Company set a $72.00 price target on Terreno Realty in a research report on Sunday, July 13th. Piper Sandler lowered their price target on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Barclays lowered their price target on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 27th. Finally, Scotiabank lowered their price target on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $65.90.

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.