Tandem Investment Advisors Inc. Buys 17,509 Shares of Terreno Realty Corporation (NYSE:TRNO)

Tandem Investment Advisors Inc. increased its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,098,733 shares of the real estate investment trust's stock after acquiring an additional 17,509 shares during the quarter. Terreno Realty comprises 2.4% of Tandem Investment Advisors Inc.'s holdings, making the stock its 21st largest holding. Tandem Investment Advisors Inc. owned about 1.07% of Terreno Realty worth $69,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TRNO. SG Americas Securities LLC bought a new stake in Terreno Realty in the first quarter worth approximately $948,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Terreno Realty by 20.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,916 shares of the real estate investment trust's stock valued at $350,000 after purchasing an additional 988 shares during the period. Blue Trust Inc. grew its stake 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. BNP Paribas Financial Markets boosted its holdings in Terreno Realty by 8.5% in the fourth quarter. BNP Paribas Financial Markets now owns 22,246 shares of the real estate investment trust's stock worth $1,316,000 after acquiring an additional 1,745 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of Terreno Realty during the first quarter valued at approximately $240,000.

Terreno Realty Trading Up 0.8%

TRNO stock traded up $0.48 during midday trading on Thursday, hitting $57.16. The company had a trading volume of 345,554 shares, compared to its average volume of 944,730. 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 52 week low of $48.18 and a 52 week high of $71.63. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.41 and a beta of 1.06. The stock's 50 day moving average price is $57.36 and its 200 day moving average price is $60.62.

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, June 27th. This represents a $1.96 annualized dividend and a yield of 3.43%. Terreno Realty's payout ratio is currently 98.49%.

Wall Street Analysts Forecast Growth

TRNO has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Scotiabank reduced 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 research note on Monday, April 7th. Barclays cut 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 report on Tuesday, May 27th. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Piper Sandler reduced 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. One investment 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. Based on data from MarketBeat.com, Terreno Realty presently has an average rating of "Hold" and an average target price of $65.00.

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.