Terreno Realty Corporation (NYSE:TRNO) Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,415 shares of the real estate investment trust's stock after selling 64,735 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.50% of Terreno Realty worth $32,403,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Terreno Realty by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock worth $902,293,000 after buying an additional 1,484,301 shares during the last quarter. FMR LLC increased its position in shares of Terreno Realty by 5.9% in the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock worth $663,987,000 after purchasing an additional 628,116 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Terreno Realty by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,145,502 shares of the real estate investment trust's stock valued at $304,305,000 after purchasing an additional 210,696 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Terreno Realty by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust's stock worth $144,031,000 after purchasing an additional 19,900 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Terreno Realty by 51.6% in the fourth quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock worth $109,150,000 after purchasing an additional 628,065 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Scotiabank dropped 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. Barclays reduced their price objective on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. Wall Street Zen upgraded shares of Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company reduced their price target on shares of Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Terreno Realty currently has a consensus rating of "Hold" and a consensus price target of $65.00.

Terreno Realty Stock Performance

Shares of NYSE TRNO traded down $0.13 during midday trading on Wednesday, reaching $56.42. 125,810 shares of the company traded hands, compared to its average volume of 937,010. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 2.39 and a beta of 1.06. The stock has a 50-day moving average price of $57.37 and a 200 day moving average price of $60.65. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $71.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.35 and a quick ratio of 2.35.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Friday, June 27th. Terreno Realty's dividend payout ratio is currently 98.49%.

Terreno Realty Company 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.