Victory Capital Management Inc. Sells 18,081 Shares of Terreno Realty Corporation (NYSE:TRNO)

Key Points

• Victory Capital Management Inc. has reduced its stake in Terreno Realty Corporation by 35.2%, now holding 33,282 shares worth approximately $2.10 million.
• Several institutional investors actively repositioned their holdings in Terreno Realty, with Deutsche Bank AG increasing its position by 287.6% to own over 1.5 million shares.
• Terreno Realty announced a quarterly dividend of $0.49, representing a 3.52% annual yield and with a current dividend payout ratio of 98.49%.

Victory Capital Management Inc. reduced its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 35.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,282 shares of the real estate investment trust's stock after selling 18,081 shares during the quarter. Victory Capital Management Inc.'s holdings in Terreno Realty were worth $2,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TRNO. Quarry LP lifted its position in shares of Terreno Realty by 613.7% in the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock valued at $43,000 after acquiring an additional 626 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Terreno Realty by 94.6% in the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 370 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Terreno Realty by 143.6% in the first quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 655 shares in the last quarter. State of Tennessee Department of Treasury purchased a new stake in shares of Terreno Realty in the fourth quarter valued at $71,000. Finally, FIL Ltd lifted its position in shares of Terreno Realty by 45.3% in the fourth quarter. FIL Ltd now owns 1,213 shares of the real estate investment trust's stock valued at $72,000 after acquiring an additional 378 shares in the last quarter.

Terreno Realty Stock Down 1.6%

Shares of NYSE:TRNO traded down $0.86 on Friday, reaching $54.63. The company had a trading volume of 270,704 shares, compared to its average volume of 924,892. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $71.63. The stock has a 50-day moving average price of $57.23 and a 200 day moving average price of $60.30. The stock has a market capitalization of $5.64 billion, a P/E ratio of 27.45, a P/E/G ratio of 2.39 and a beta of 1.06. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.20.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a $0.49 dividend. The ex-dividend date was Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.6%. Terreno Realty's payout ratio is presently 98.49%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TRNO shares. Barclays reduced their target price on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 27th. Piper Sandler reduced their target price on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company set a $72.00 price target on Terreno Realty in a report on Sunday, July 13th. Scotiabank lowered their price target 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. Finally, Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $65.90.

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.