Terreno Realty Corporation (NYSE:TRNO) Stake Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 12.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 826,749 shares of the real estate investment trust's stock after selling 121,341 shares during the period. Bank of New York Mellon Corp owned 0.80% of Terreno Realty worth $52,267,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TRNO. Mariner LLC raised its holdings in shares of Terreno Realty by 3.7% during the 4th quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust's stock valued at $264,000 after buying an additional 161 shares during the period. New York State Teachers Retirement System grew its stake in Terreno Realty by 0.9% during the 1st quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust's stock valued at $1,448,000 after purchasing an additional 200 shares in the last quarter. First Trust Advisors LP raised its position in shares of Terreno Realty by 0.9% in the 4th quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust's stock valued at $1,810,000 after purchasing an additional 271 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Terreno Realty by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust's stock valued at $591,000 after purchasing an additional 316 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of Terreno Realty by 3.5% during the 1st quarter. Moody National Bank Trust Division now owns 10,151 shares of the real estate investment trust's stock valued at $642,000 after buying an additional 343 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays reduced their price objective on shares of 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. 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. Scotiabank lowered their price objective on 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. Finally, Piper Sandler dropped their target price on shares of Terreno Realty from $61.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $65.00.

Terreno Realty Price Performance

TRNO traded up $0.81 on Wednesday, reaching $57.57. The company had a trading volume of 1,070,286 shares, compared to its average volume of 954,733. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $71.63. The company has a market capitalization of $5.95 billion, a P/E ratio of 28.93, a PEG ratio of 2.47 and a beta of 1.06. The company has a fifty day moving average of $57.42 and a 200-day moving average of $60.47. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.20.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.40%. The ex-dividend date was Friday, June 27th. Terreno Realty's dividend payout ratio is presently 98.49%.

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.