Terreno Realty Corporation (NYSE:TRNO) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its holdings in shares of Terreno Realty Corporation (NYSE:TRNO) by 56.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,832 shares of the real estate investment trust’s stock after selling 8,702 shares during the period. Avantax Advisory Services Inc.’s holdings in Terreno Realty were worth $432,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. KLP Kapitalforvaltning AS grew its holdings in Terreno Realty by 3.5% during the 1st quarter. KLP Kapitalforvaltning AS now owns 20,600 shares of the real estate investment trust’s stock valued at $1,311,000 after buying an additional 700 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Terreno Realty during the first quarter valued at $7,613,000. Allianz Asset Management GmbH purchased a new stake in Terreno Realty during the 1st quarter worth about $3,651,000. Teachers Retirement System of The State of Kentucky increased its position in Terreno Realty by 188.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 36,150 shares of the real estate investment trust’s stock worth $2,285,000 after purchasing an additional 23,625 shares in the last quarter. Finally, Archer Investment Corp acquired a new position in Terreno Realty in the 1st quarter valued at about $160,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TRNO shares. Wells Fargo & Company set a $72.00 price target on shares of Terreno Realty in a research note on Sunday, July 13th. Barclays decreased their target price on shares of 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 cut their price target on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, Wall Street Zen upgraded Terreno Realty from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.90.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $54.63 on Thursday. The business has a 50-day moving average of $57.19 and a two-hundred day moving average of $60.18. The firm has a market capitalization of $5.64 billion, a PE ratio of 27.45, a P/E/G ratio of 2.37 and a beta of 1.02. 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 12 month low of $48.18 and a 12 month high of $71.63.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.49. Terreno Realty’s payout ratio is 98.49%.

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.