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Terreno Realty Corporation (NYSE:TRNO) Shares Sold by Vestcor Inc

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Key Points

  • Vestcor Inc reduced its holdings in Terreno Realty Corporation (NYSE:TRNO) by 33.0% during Q1, owning 19,567 shares valued at approximately $1.24 million after the sale.
  • Analysts have set varying price targets for TRNO, with Barclays lowering its target from $57.00 to $56.00 while Wells Fargo set a target of $72.00, indicating mixed sentiment surrounding the stock.
  • Terreno Realty recently announced a quarterly dividend of $0.49, reflecting an annual yield of 3.6%, while its current payout ratio stands at 98.49%.
  • Interested in Terreno Realty? Here are five stocks we like better.

Vestcor Inc trimmed its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 33.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,567 shares of the real estate investment trust's stock after selling 9,646 shares during the quarter. Vestcor Inc's holdings in Terreno Realty were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its position in shares of Terreno Realty by 5.9% in the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock worth $663,987,000 after buying an additional 628,116 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Terreno Realty by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,145,502 shares of the real estate investment trust's stock valued at $304,305,000 after purchasing an additional 210,696 shares during the period. Geode Capital Management LLC raised its stake in Terreno Realty by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust's stock valued at $144,031,000 after buying an additional 19,900 shares during the last quarter. Northern Trust Corp raised its stake in Terreno Realty by 51.6% during the fourth quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock valued at $109,150,000 after buying an additional 628,065 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Terreno Realty by 287.6% during the fourth quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust's stock valued at $91,454,000 after buying an additional 1,147,404 shares during the last quarter.

Analyst Upgrades and Downgrades

TRNO has been the subject of several recent analyst reports. Wells Fargo & Company set a $72.00 price target on Terreno Realty in a research note on Sunday, July 13th. Scotiabank lowered their price objective on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Piper Sandler dropped 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. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Barclays reduced their price target on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $65.90.

Read Our Latest Stock Analysis on TRNO

Terreno Realty Stock Up 1.1%

Shares of NYSE TRNO traded up $0.58 during mid-day trading on Monday, hitting $54.85. The company had a trading volume of 719,008 shares, compared to its average volume of 833,031. The company has a market capitalization of $5.67 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.32 and a beta of 1.02. The business's 50-day simple moving average is $57.22 and its 200 day simple moving average is $60.26. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.35 and a quick ratio of 2.35. Terreno Realty Corporation has a 1-year low of $48.18 and a 1-year high of $71.63.

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.6%. Terreno Realty's dividend payout ratio (DPR) is presently 98.49%.

About Terreno Realty

(Free Report)

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.

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Institutional Ownership by Quarter for Terreno Realty (NYSE:TRNO)

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