Allspring Global Investments Holdings LLC Sells 64,735 Shares of Terreno Realty Corporation (NYSE:TRNO)

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position in shares of Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 361 shares during the last quarter. Quarry LP lifted its stake in Terreno Realty by 613.7% in the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 626 shares during the period. Quadrant Capital Group LLC boosted its stake in Terreno Realty by 94.6% during the 4th 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 last quarter. Blue Trust Inc. grew its holdings in shares of Terreno Realty by 143.6% in the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 655 shares during the period. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Terreno Realty in the 4th quarter valued at $71,000.

Terreno Realty Stock Performance

Shares of TRNO traded up $0.48 during midday trading on Friday, reaching $57.16. The stock had a trading volume of 345,554 shares, compared to its average volume of 944,730. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $71.63. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $57.36 and a 200-day simple moving average of $60.58. The firm has a market cap of $5.91 billion, a PE ratio of 28.72, a P/E/G ratio of 2.44 and a beta of 1.06.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.49 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.43%. Terreno Realty's payout ratio is 98.49%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRNO. Scotiabank reduced their price target on shares of Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a report on Monday, April 7th. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Piper Sandler dropped their price target 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. Wells Fargo & Company dropped their target price on 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. Finally, Barclays cut their target price 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $65.00.

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.