Davidson Investment Advisors lowered its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 277,574 shares of the real estate investment trust's stock after selling 6,363 shares during the period. Davidson Investment Advisors owned 0.27% of Terreno Realty worth $17,548,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently modified their holdings of TRNO. Vanguard Group Inc. grew 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 acquiring an additional 1,484,301 shares during the last quarter. Deutsche Bank AG grew its position in Terreno Realty by 287.6% during the 4th quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust's stock valued at $91,454,000 after purchasing an additional 1,147,404 shares during the last quarter. Norges Bank purchased a new stake in Terreno Realty during the 4th quarter valued at about $58,818,000. FMR LLC grew its position in Terreno Realty by 5.9% during the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock valued at $663,987,000 after purchasing an additional 628,116 shares during the last quarter. Finally, Northern Trust Corp grew its position in Terreno Realty by 51.6% during the 4th quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock valued at $109,150,000 after purchasing an additional 628,065 shares during the last quarter.
Analyst Ratings Changes
TRNO has been the topic of a number of recent analyst reports. Wall Street Zen upgraded 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 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 cut their target price on Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Scotiabank cut their target price on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a research note on Monday, April 7th. Finally, Barclays dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $65.00.
Check Out Our Latest Report on TRNO
Terreno Realty Stock Performance
Shares of TRNO stock traded up $1.60 on Thursday, reaching $57.61. The stock had a trading volume of 1,308,013 shares, compared to its average volume of 953,631. The stock has a market cap of $5.95 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 2.43 and a beta of 1.06. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $71.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.35 and a current ratio of 2.35. The company has a 50 day simple moving average of $57.37 and a 200 day simple moving average of $60.50.
Terreno Realty Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 annualized dividend and a yield of 3.40%. Terreno Realty's payout ratio is 98.49%.
Terreno Realty Profile
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Free Report)
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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