Knights of Columbus Asset Advisors LLC Reduces Position in Terreno Realty Corporation (NYSE:TRNO)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Terreno Realty Corporation by 22.8%, selling 15,940 shares to hold 53,979 shares worth approximately $3.41 million.
• Terreno Realty has seen significant changes in institutional holdings, with Vanguard Group and Deutsche Bank increasing their positions by 10.8% and 287.6% respectively in the last quarter.
• The company announced a quarterly dividend of $0.49 per share, representing a 3.43% dividend yield with a payout ratio of approximately 98.49%.

Knights of Columbus Asset Advisors LLC cut its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 22.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,979 shares of the real estate investment trust's stock after selling 15,940 shares during the quarter. Knights of Columbus Asset Advisors LLC owned approximately 0.05% of Terreno Realty worth $3,413,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TRNO. Vanguard Group Inc. raised its stake in shares of Terreno Realty by 10.8% during the 4th 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 in the last quarter. Deutsche Bank AG grew its holdings in Terreno Realty by 287.6% in the fourth quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust's stock worth $91,454,000 after purchasing an additional 1,147,404 shares during the last quarter. Norges Bank acquired a new position in shares of Terreno Realty during the fourth quarter worth $58,818,000. FMR LLC lifted its holdings in shares of 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 boosted its position in shares of Terreno Realty by 51.6% in the 4th quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock worth $109,150,000 after purchasing an additional 628,065 shares in the last quarter.

Wall Street Analysts Forecast Growth

TRNO has been the topic of several recent analyst reports. Scotiabank reduced their target price on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Wall Street Zen upgraded shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Wells Fargo & Company lowered their target price on shares of Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Piper Sandler cut their price target on shares of Terreno Realty from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Barclays decreased their price target on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $65.00.

Terreno Realty Stock Performance

NYSE TRNO traded down $0.24 on Friday, reaching $56.99. 586,324 shares of the company's stock traded hands, compared to its average volume of 932,438. Terreno Realty Corporation has a fifty-two week low of $48.18 and a fifty-two week 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 firm has a market cap of $5.89 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 2.43 and a beta of 1.06. The stock has a 50 day moving average price of $57.30 and a 200-day moving average price of $60.38.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, June 27th. Terreno Realty's dividend payout ratio (DPR) is 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.