Bank of New York Mellon Corp Sells 121,341 Shares of Terreno Realty Corporation (NYSE:TRNO)

Bank of New York Mellon Corp trimmed its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 12.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its position in Terreno Realty by 176.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock worth $33,000 after buying an additional 361 shares during the period. Quarry LP increased its position in Terreno Realty by 613.7% in the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock worth $43,000 after buying an additional 626 shares during the period. Quadrant Capital Group LLC increased its position in Terreno Realty by 94.6% in the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock worth $45,000 after buying an additional 370 shares during the period. Blue Trust Inc. increased its position in 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 worth $70,000 after buying an additional 655 shares during the period. Finally, State of Tennessee Department of Treasury bought a new position in Terreno Realty in the 4th quarter worth approximately $71,000.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $58.10 on Friday. Terreno Realty Corporation has a 1-year low of $48.18 and a 1-year high of $71.63. The firm has a market capitalization of $6.00 billion, a PE ratio of 29.19, a PEG ratio of 2.48 and a beta of 1.06. The business's 50 day moving average is $57.40 and its 200-day moving average is $60.50. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.37%. The ex-dividend date was Friday, June 27th. Terreno Realty's dividend payout ratio is 98.49%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays dropped 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. 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 report on Tuesday, April 15th. Wells Fargo & Company dropped their price target 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. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Scotiabank decreased their price objective on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Terreno Realty has a consensus rating of "Hold" and a consensus 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.

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