Davidson Investment Advisors Cuts Stock Position in Terreno Realty Corporation (NYSE:TRNO)

Davidson Investment Advisors decreased its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 277,574 shares of the real estate investment trust's stock after selling 6,363 shares during the period. Davidson Investment Advisors owned approximately 0.27% of Terreno Realty worth $17,548,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Mariner LLC raised its holdings in shares of Terreno Realty by 3.7% during the fourth quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust's stock valued at $264,000 after purchasing an additional 161 shares during the period. New York State Teachers Retirement System raised 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 worth $1,448,000 after buying an additional 200 shares during the period. First Trust Advisors LP boosted its holdings in Terreno Realty by 0.9% in the fourth quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust's stock worth $1,810,000 after acquiring an additional 271 shares in the last quarter. Arizona State Retirement System boosted its holdings in Terreno Realty by 1.0% in the fourth quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust's stock worth $1,663,000 after acquiring an additional 276 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in Terreno Realty by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust's stock valued at $591,000 after acquiring an additional 316 shares during the period.

Terreno Realty Stock Down 0.6%

Shares of TRNO traded down $0.32 during trading hours on Monday, reaching $56.84. 1,307,728 shares of the stock traded hands, compared to its average volume of 947,173. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week 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 stock has a fifty day simple moving average of $57.37 and a 200 day simple moving average of $60.57. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.44 and a beta of 1.06.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, June 27th. Terreno Realty's payout ratio is 98.49%.

Wall Street Analyst Weigh In

TRNO has been the topic of a number of research reports. Piper Sandler lowered their target price 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. Wall Street Zen upgraded shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Scotiabank dropped their price objective on shares of 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. Barclays dropped 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. Finally, Wells Fargo & Company dropped their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Terreno Realty has an average rating of "Hold" and a consensus price target 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.