Copeland Capital Management LLC Reduces Stock Holdings in Terreno Realty Corporation (NYSE:TRNO)

Copeland Capital Management LLC reduced its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,198,319 shares of the real estate investment trust's stock after selling 10,825 shares during the quarter. Terreno Realty comprises about 1.5% of Copeland Capital Management LLC's portfolio, making the stock its 14th biggest position. Copeland Capital Management LLC owned 1.16% of Terreno Realty worth $75,758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Illinois Municipal Retirement Fund bought a new position in shares of Terreno Realty during the first quarter valued at approximately $3,202,000. Phillips Wealth Planners LLC boosted its position in Terreno Realty by 16.2% during the 1st quarter. Phillips Wealth Planners LLC now owns 4,528 shares of the real estate investment trust's stock valued at $286,000 after acquiring an additional 632 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Terreno Realty by 4.4% in the 1st quarter. Bessemer Group Inc. now owns 464,691 shares of the real estate investment trust's stock valued at $29,379,000 after acquiring an additional 19,637 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Terreno Realty by 3.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 184,214 shares of the real estate investment trust's stock worth $11,646,000 after acquiring an additional 5,454 shares in the last quarter. Finally, Blue Trust Inc. raised its position 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 worth $70,000 after acquiring an additional 655 shares in the last quarter.

Terreno Realty Stock Performance

Shares of TRNO traded up $0.44 during trading hours on Tuesday, reaching $56.51. 893,419 shares of the company traded hands, compared to its average volume of 938,200. The stock has a market capitalization of $5.84 billion, a P/E ratio of 28.40, a P/E/G ratio of 2.39 and a beta of 1.07. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average price of $57.37 and a 200-day moving average price of $60.67. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $71.63.

Terreno Realty Announces Dividend

The company also recently disclosed 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. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, June 27th. Terreno Realty's dividend payout ratio is presently 98.49%.

Analysts Set New Price Targets

Several research firms have issued reports on TRNO. Scotiabank cut their target price on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a research note on Monday, April 7th. 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 note on Monday, May 19th. Piper Sandler lowered their target price on shares of Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Barclays decreased their price objective 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. One 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.com, Terreno Realty currently has an average rating of "Hold" and a consensus price target 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.