Avantax Advisory Services Inc. Sells 8,702 Shares of Terreno Realty Corporation (NYSE:TRNO)

Avantax Advisory Services Inc. trimmed its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 56.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,832 shares of the real estate investment trust's stock after selling 8,702 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Terreno Realty were worth $432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC raised its holdings in shares of Terreno Realty by 10.9% during the fourth quarter. LPL Financial LLC now owns 19,293 shares of the real estate investment trust's stock worth $1,141,000 after acquiring an additional 1,903 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Terreno Realty by 2.4% during the fourth quarter. Alliancebernstein L.P. now owns 138,847 shares of the real estate investment trust's stock worth $8,211,000 after acquiring an additional 3,237 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of Terreno Realty during the fourth quarter worth $2,352,000. Envestnet Asset Management Inc. raised its holdings in shares of Terreno Realty by 1.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 331,642 shares of the real estate investment trust's stock worth $19,613,000 after acquiring an additional 5,466 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in shares of Terreno Realty by 94.6% during the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 370 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Wells Fargo & Company set a $72.00 price target on shares of Terreno Realty in a research note on Sunday, July 13th. Piper Sandler lowered their price target on shares of Terreno Realty from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Barclays lowered 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $65.90.

Terreno Realty Stock Performance

Shares of TRNO traded down $0.85 during midday trading on Friday, reaching $53.79. The stock had a trading volume of 855,795 shares, compared to its average volume of 745,206. The firm has a 50 day simple moving average of $57.06 and a 200-day simple moving average of $60.02. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $71.63. The firm has a market cap of $5.56 billion, a PE ratio of 21.35, a P/E/G ratio of 2.33 and a beta of 1.02. The company has a current ratio of 1.75, a quick ratio of 2.35 and a debt-to-equity ratio of 0.20.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a $0.52 dividend. This is a boost from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. Terreno Realty's payout ratio is 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.