Royal Bank of Canada Has $21.98 Million Stock Position in Terreno Realty Co. (NYSE:TRNO)

Royal Bank of Canada reduced its stake in shares of Terreno Realty Co. (NYSE:TRNO - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 371,662 shares of the real estate investment trust's stock after selling 20,923 shares during the quarter. Royal Bank of Canada owned about 0.37% of Terreno Realty worth $21,981,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new position in Terreno Realty during the 4th quarter worth $27,000. Steward Partners Investment Advisory LLC grew its stake in Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock worth $33,000 after buying an additional 361 shares during the last quarter. Quarry LP grew its stake in Terreno Realty by 613.7% during the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock worth $43,000 after buying an additional 626 shares during the last quarter. Quadrant Capital Group LLC grew its stake 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 worth $45,000 after buying an additional 370 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in Terreno Realty during the 4th quarter worth $71,000.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRNO. The Goldman Sachs Group upgraded Terreno Realty from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Barclays lowered their price objective on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research note on Tuesday. BMO Capital Markets increased their price target on Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Piper Sandler decreased their price target 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 given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Terreno Realty has a consensus rating of "Hold" and an average price target of $65.27.

Terreno Realty Stock Performance

Shares of TRNO stock traded up $0.09 during trading on Thursday, reaching $56.66. The company had a trading volume of 326,895 shares, compared to its average volume of 915,940. The firm's 50 day simple moving average is $57.48 and its two-hundred day simple moving average is $61.19. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. Terreno Realty Co. has a one year low of $48.18 and a one year high of $71.63. The company has a market capitalization of $5.85 billion, a PE ratio of 29.51, a PEG ratio of 2.82 and a beta of 1.07.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, June 27th. Terreno Realty's payout ratio is 98.49%.

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.