Terreno Realty Co. (NYSE:TRNO) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in Terreno Realty Co. (NYSE:TRNO - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 510,767 shares of the real estate investment trust's stock after selling 55,966 shares during the period. Bank of America Corp DE owned 0.51% of Terreno Realty worth $30,207,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Terreno Realty by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock worth $902,293,000 after acquiring an additional 1,484,301 shares during the period. FMR LLC boosted its position in Terreno Realty by 5.9% in the fourth quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock valued at $663,987,000 after buying an additional 628,116 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in 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 worth $304,305,000 after buying an additional 210,696 shares during the period. Geode Capital Management LLC raised its position in Terreno Realty by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust's stock worth $144,031,000 after buying an additional 19,900 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Terreno Realty by 51.6% during the 4th quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock valued at $109,150,000 after acquiring an additional 628,065 shares during the period.

Terreno Realty Price Performance

NYSE:TRNO traded down $0.42 during trading hours on Thursday, hitting $55.23. 123,241 shares of the stock were exchanged, compared to its average volume of 916,361. The company has a market cap of $5.71 billion, a P/E ratio of 28.75, a P/E/G ratio of 2.82 and a beta of 1.07. The firm's fifty day moving average price is $58.47 and its 200 day moving average price is $61.36. Terreno Realty Co. has a 52-week low of $48.18 and a 52-week high of $71.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 3.55%. The ex-dividend date of this dividend is Friday, June 27th. Terreno Realty's dividend payout ratio (DPR) is presently 98.49%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TRNO. Scotiabank reduced their target price on shares of Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a report on Monday, April 7th. JMP Securities reissued a "market outperform" rating and issued a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 10th. BMO Capital Markets raised their target price on Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. Barclays decreased their price target on Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating for the company in a report on Tuesday, March 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $65.36.

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.