Tandem Investment Advisors Inc. Boosts Stake in Terreno Realty Corporation (NYSE:TRNO)

Tandem Investment Advisors Inc. lifted its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,098,733 shares of the real estate investment trust's stock after purchasing an additional 17,509 shares during the period. Terreno Realty comprises about 2.4% of Tandem Investment Advisors Inc.'s portfolio, making the stock its 21st biggest holding. Tandem Investment Advisors Inc. owned about 1.07% of Terreno Realty worth $69,462,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TRNO. SG Americas Securities LLC acquired a new position in Terreno Realty during the first quarter worth $948,000. Wealth Enhancement Advisory Services LLC raised its position in 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 worth $350,000 after acquiring an additional 988 shares during the period. Blue Trust Inc. raised its position in Terreno Realty by 143.6% during the first 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. Janney Montgomery Scott LLC raised its position in Terreno Realty by 10.0% during the first quarter. Janney Montgomery Scott LLC now owns 8,256 shares of the real estate investment trust's stock worth $522,000 after acquiring an additional 750 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Terreno Realty by 8.5% during 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 during the period.

Analyst Upgrades and Downgrades

TRNO has been the subject of a number of research 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 research report on Monday, May 19th. Piper Sandler reduced their price objective 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. Scotiabank reduced their price objective on shares of 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. Barclays reduced their target price on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. Finally, Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.00.

Terreno Realty Trading Up 0.8%

Terreno Realty stock traded up $0.48 during midday trading on Friday, hitting $57.16. 345,554 shares of the stock were exchanged, compared to its average volume of 945,725. Terreno Realty Corporation has a fifty-two week low of $48.18 and a fifty-two week high of $71.63. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.44 and a beta of 1.06. The stock's 50-day simple moving average is $57.37 and its 200 day simple moving average is $60.57. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, June 27th. Terreno Realty's payout ratio is currently 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.