Massachusetts Financial Services Co. MA Decreases Stock Holdings in Terreno Realty Corporation (NYSE:TRNO)

Massachusetts Financial Services Co. MA lessened its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 47.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 519,464 shares of the real estate investment trust's stock after selling 470,988 shares during the period. Massachusetts Financial Services Co. MA owned about 0.50% of Terreno Realty worth $32,841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TRNO. Steward Partners Investment Advisory LLC raised its stake in shares of Terreno Realty by 176.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 361 shares in the last quarter. Quarry LP raised its stake in 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 buying an additional 626 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Terreno Realty by 94.6% during the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 370 shares in the last quarter. Blue Trust Inc. boosted its position 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 valued at $70,000 after acquiring an additional 655 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in shares of Terreno Realty in the 4th quarter worth $71,000.

Terreno Realty Price Performance

TRNO stock traded up $0.12 during mid-day trading on Monday, reaching $56.56. The company's stock had a trading volume of 504,401 shares, compared to its average volume of 955,116. The stock has a market cap of $5.84 billion, a PE ratio of 28.42, a P/E/G ratio of 2.41 and a beta of 1.06. 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 Corporation has a fifty-two week low of $48.18 and a fifty-two week high of $71.63. The company's 50 day moving average is $57.43 and its two-hundred day moving average is $60.44.

Terreno Realty Dividend Announcement

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 $0.49 dividend. The ex-dividend date was Friday, June 27th. This represents a $1.96 annualized dividend and a yield of 3.47%. Terreno Realty's dividend payout ratio (DPR) is presently 98.49%.

Wall Street Analyst Weigh In

Several research firms have recently commented on TRNO. Scotiabank reduced their price target on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. Piper Sandler reduced their price target 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 raised Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays reduced their price target 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. Finally, Wells Fargo & Company reduced their price target on Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. One 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.com, Terreno Realty currently has a consensus rating of "Hold" and an average 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.