Terreno Realty Corporation (NYSE:TRNO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 65.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,652,319 shares of the real estate investment trust's stock after selling 3,114,171 shares during the quarter. Principal Financial Group Inc. owned 1.60% of Terreno Realty worth $104,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TRNO. Steward Partners Investment Advisory LLC lifted its holdings in shares of Terreno Realty by 176.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 361 shares during the period. Quarry LP lifted its holdings in shares of Terreno Realty by 613.7% in the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 626 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of 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 valued at $45,000 after buying an additional 370 shares during the period. Blue Trust Inc. lifted its holdings in shares of Terreno Realty by 143.6% in the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 655 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Terreno Realty in the 4th quarter valued at approximately $71,000.

Analysts Set New Price Targets

Several research firms have recently commented on TRNO. Piper Sandler reduced their price target on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company reduced their price target on Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a 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 for the company in a report on Tuesday, May 27th. Finally, Scotiabank decreased 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $65.00.

Terreno Realty Price Performance

TRNO traded up $0.03 during trading on Tuesday, reaching $56.84. 1,305,353 shares of the stock were exchanged, compared to its average volume of 950,159. The business's 50 day moving average price is $57.37 and its two-hundred day moving average price is $60.53. 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 company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 2.42 and a beta of 1.06. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $71.63.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.49 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.45%. 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.