Bank of New York Mellon Corp Buys 349,060 Shares of Terreno Realty Co. (NYSE:TRNO)

Bank of New York Mellon Corp lifted its position in Terreno Realty Co. (NYSE:TRNO - Free Report) by 58.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 948,090 shares of the real estate investment trust's stock after buying an additional 349,060 shares during the period. Bank of New York Mellon Corp owned about 0.95% of Terreno Realty worth $56,070,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its position in Terreno Realty by 2,381.3% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust's stock worth $27,000 after buying an additional 381 shares during the last quarter. Manchester Capital Management LLC bought a new stake in shares of Terreno Realty in the fourth quarter worth approximately $27,000. International Assets Investment Management LLC raised its holdings in shares of Terreno Realty by 6,580.0% during the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust's stock valued at $67,000 after purchasing an additional 987 shares during the last quarter. Huntington National Bank lifted its position in Terreno Realty by 7.4% during the third quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust's stock valued at $171,000 after purchasing an additional 177 shares during the period. Finally, Financial Advocates Investment Management purchased a new stake in Terreno Realty in the third quarter worth approximately $205,000.

Terreno Realty Price Performance

Shares of Terreno Realty stock traded up $1.04 during trading hours on Wednesday, hitting $68.52. The company's stock had a trading volume of 1,400,320 shares, compared to its average volume of 897,743. The company has a market cap of $6.84 billion, a PE ratio of 35.69, a PEG ratio of 2.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The business has a 50 day moving average price of $63.72 and a two-hundred day moving average price of $63.99. Terreno Realty Co. has a 12-month low of $53.78 and a 12-month high of $71.63.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 2.86%. Terreno Realty's payout ratio is 102.08%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TRNO shares. Barclays reiterated an "equal weight" rating and set a $60.00 target price (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a report on Tuesday, January 14th. They issued a "hold" rating and a $60.00 target price on the stock. Piper Sandler reduced their price target on shares of Terreno Realty from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Scotiabank raised their price objective on shares of Terreno Realty from $64.00 to $68.00 and gave the stock a "sector perform" rating in a report on Friday, February 28th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $69.36.

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.