Knights of Columbus Asset Advisors LLC Sells 15,940 Shares of 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 reduced its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 22.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,979 shares of the real estate investment trust's stock after selling 15,940 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.05% of Terreno Realty worth $3,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRNO. Quarry LP grew its position in shares of Terreno Realty by 613.7% during the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock valued at $43,000 after acquiring an additional 626 shares during the period. Quadrant Capital Group LLC increased its holdings 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 acquiring an additional 370 shares in the last quarter. Blue Trust Inc. raised its stake in Terreno Realty by 143.6% during the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 655 shares during the period. State of Tennessee Department of Treasury purchased a new position in Terreno Realty during the fourth quarter valued at approximately $71,000. Finally, FIL Ltd lifted its holdings in Terreno Realty by 45.3% during the fourth quarter. FIL Ltd now owns 1,213 shares of the real estate investment trust's stock valued at $72,000 after purchasing an additional 378 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently weighed in on TRNO. Scotiabank dropped their target price on shares of Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a report on Monday, April 7th. Piper Sandler dropped their price objective on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Wells Fargo & Company set a $72.00 price target on Terreno Realty in a report on Sunday, July 13th. Finally, Barclays cut their price objective 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 analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Terreno Realty currently has an average rating of "Hold" and an average price target of $65.90.

Terreno Realty Trading Up 1.5%

Shares of NYSE TRNO traded up $0.81 during mid-day trading on Tuesday, reaching $56.55. The company had a trading volume of 303,642 shares, compared to its average volume of 929,484. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.06. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $71.63. The business's 50-day moving average is $57.25 and its 200-day moving average is $60.38. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, June 27th. Terreno Realty's dividend payout ratio (DPR) is presently 98.49%.

Terreno Realty 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.