Terreno Realty Corporation $TRNO Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in Terreno Realty Corporation (NYSE:TRNO) by 6.4% in the first quarter, Holdings Channel reports. The institutional investor owned 781,366 shares of the real estate investment trust’s stock after selling 53,241 shares during the quarter. Bank of New York Mellon Corp’s holdings in Terreno Realty were worth $47,992,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TRNO. Caitong International Asset Management Co. Ltd grew its holdings in shares of Terreno Realty by 52.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 172 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Terreno Realty by 49.4% during the fourth quarter. UMB Bank n.a. now owns 535 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 177 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 189 shares during the last quarter. First Horizon Corp boosted its position in Terreno Realty by 41.5% during the fourth quarter. First Horizon Corp now owns 651 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 191 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Terreno Realty by 15.4% in the second quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 193 shares in the last quarter.

Analyst Ratings Changes

TRNO has been the subject of several research reports. Barclays lifted their price target on Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Raymond James Financial started coverage on shares of Terreno Realty in a research note on Wednesday, June 17th. They set an “underperform” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lowered their target price on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Finally, Piper Sandler raised their target price on Terreno Realty from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Terreno Realty has an average rating of “Moderate Buy” and an average price target of $71.71.

Terreno Realty Stock Up 0.8%

NYSE TRNO opened at $72.63 on Friday. Terreno Realty Corporation has a 1-year low of $53.00 and a 1-year high of $78.94. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 17.76 and a beta of 1.05. The stock’s 50 day moving average is $67.36 and its two-hundred day moving average is $64.95. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.36. The business had revenue of $124.44 million during the quarter, compared to analysts’ expectations of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. Equities analysts forecast that Terreno Realty Corporation will post 2.81 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.9%. Terreno Realty’s dividend payout ratio (DPR) is presently 50.86%.

Terreno Realty Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.