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

Massachusetts Financial Services Co. MA lowered its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 47.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.50% of Terreno Realty worth $32,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TRNO. Edgestream Partners L.P. purchased a new stake in shares of Terreno Realty during the first quarter valued at $5,531,000. New York State Common Retirement Fund grew its stake in Terreno Realty by 2.1% during the 1st quarter. New York State Common Retirement Fund now owns 72,900 shares of the real estate investment trust's stock valued at $4,609,000 after acquiring an additional 1,500 shares in the last quarter. Arizona State Retirement System grew its stake in Terreno Realty by 1.7% during the 1st quarter. Arizona State Retirement System now owns 28,608 shares of the real estate investment trust's stock valued at $1,809,000 after acquiring an additional 486 shares in the last quarter. Diversify Wealth Management LLC grew its stake in shares of Terreno Realty by 29.8% in the 1st quarter. Diversify Wealth Management LLC now owns 9,527 shares of the real estate investment trust's stock valued at $602,000 after buying an additional 2,186 shares during the period. Finally, Xponance Inc. boosted its position in shares of Terreno Realty by 8.5% during the 1st quarter. Xponance Inc. now owns 7,447 shares of the real estate investment trust's stock worth $471,000 after purchasing an additional 586 shares during the period.

Terreno Realty Price Performance

Shares of Terreno Realty stock opened at $56.19 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.35 and a quick ratio of 2.35. The business has a 50 day simple moving average of $57.45 and a two-hundred day simple moving average of $60.43. The stock has a market capitalization of $5.81 billion, a P/E ratio of 28.24, a PEG ratio of 2.46 and a beta of 1.06. Terreno Realty Corporation has a 12 month low of $48.18 and a 12 month high of $71.63.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a yield of 3.49%. Terreno Realty's dividend payout ratio (DPR) is 98.49%.

Analysts Set New Price Targets

TRNO has been the topic of a number of recent analyst reports. Barclays dropped their price target 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. Piper Sandler dropped their price target on shares of Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Wells Fargo & Company reduced 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. Finally, Scotiabank reduced their price target on shares of 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $65.00.

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.

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