Terreno Realty Corporation (NYSE:TRNO) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in Terreno Realty Corporation (NYSE:TRNO) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,221 shares of the real estate investment trust’s stock after selling 215 shares during the period. Fifth Third Bancorp’s holdings in Terreno Realty were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Terreno Realty during the first quarter worth about $948,000. GAMMA Investing LLC boosted its stake in shares of Terreno Realty by 840.2% during the first quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 1,109 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Terreno Realty by 7.3% during the first quarter. Harbor Capital Advisors Inc. now owns 32,078 shares of the real estate investment trust’s stock worth $2,028,000 after buying an additional 2,194 shares during the period. Portside Wealth Group LLC acquired a new stake in shares of Terreno Realty during the first quarter worth about $202,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of Terreno Realty during the first quarter worth about $240,000.

Terreno Realty Trading Down 0.2%

Shares of Terreno Realty stock opened at $58.13 on Wednesday. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $71.63. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.20. The stock has a market cap of $6.01 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. The company has a 50-day moving average of $57.13 and a two-hundred day moving average of $60.93.

Terreno Realty Announces Dividend

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 issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a yield of 3.37%. Terreno Realty’s dividend payout ratio (DPR) is presently 98.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler decreased 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. Scotiabank decreased 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 research note on Monday, April 7th. Wall Street Zen raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th. Wells Fargo & Company cut their price target on shares of Terreno Realty from $67.00 to $63.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. Finally, Barclays cut their price target on shares of 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.00.

Terreno Realty Company 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.