Congress Asset Management Co. Buys 62,367 Shares of Terreno Realty Co. (NYSE:TRNO)

Congress Asset Management Co. grew its stake in Terreno Realty Co. (NYSE:TRNO - Free Report) by 13.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 511,460 shares of the real estate investment trust's stock after buying an additional 62,367 shares during the quarter. Congress Asset Management Co. owned approximately 0.50% of Terreno Realty worth $32,335,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TRNO. Manchester Capital Management LLC bought a new position in Terreno Realty in the 4th quarter worth $27,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Terreno Realty by 176.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 361 shares during the period. Quarry LP boosted its stake in shares of Terreno Realty by 613.7% in 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 position in shares of 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 purchasing an additional 370 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Terreno Realty during the 4th quarter valued at approximately $71,000.

Terreno Realty Trading Down 1.0%

TRNO traded down $0.61 on Wednesday, hitting $59.37. The company had a trading volume of 338,429 shares, compared to its average volume of 923,056. Terreno Realty Co. has a 12-month low of $48.18 and a 12-month high of $71.63. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. The business's fifty day simple moving average is $56.60 and its 200 day simple moving average is $61.01. The company has a market cap of $6.13 billion, a PE ratio of 30.87, a PEG ratio of 2.82 and a beta of 1.07.

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Friday, June 27th. Terreno Realty's payout ratio is currently 98.49%.

Wall Street Analysts Forecast Growth

TRNO has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Piper Sandler cut their target price on shares of Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Scotiabank reduced their price target on shares of Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group raised shares of Terreno Realty from a "neutral" rating to a "buy" rating and increased their price objective for the company from $65.00 to $77.00 in a report on Friday, February 21st. Finally, Barclays cut their price objective on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Terreno Realty presently has an average rating of "Hold" and a consensus target price of $65.00.

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.