Vestcor Inc Sells 22,784 Shares of Terreno Realty Co. (NYSE:TRNO)

Vestcor Inc trimmed its holdings in shares of Terreno Realty Co. (NYSE:TRNO - Free Report) by 43.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,213 shares of the real estate investment trust's stock after selling 22,784 shares during the period. Vestcor Inc's holdings in Terreno Realty were worth $1,728,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. FMR LLC raised its holdings in shares of Terreno Realty by 16.4% in the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust's stock valued at $708,348,000 after purchasing an additional 1,496,666 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Terreno Realty by 339.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust's stock valued at $40,842,000 after purchasing an additional 472,125 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Terreno Realty by 59.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,054,516 shares of the real estate investment trust's stock valued at $70,473,000 after acquiring an additional 394,436 shares during the period. Bank of New York Mellon Corp raised its holdings in Terreno Realty by 58.3% in the 4th quarter. Bank of New York Mellon Corp now owns 948,090 shares of the real estate investment trust's stock valued at $56,070,000 after acquiring an additional 349,060 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Terreno Realty in the 4th quarter valued at about $19,792,000.

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Analysts Set New Price Targets

TRNO has been the topic of several research analyst reports. Scotiabank increased their price target on shares of Terreno Realty from $64.00 to $68.00 and gave the company a "sector perform" rating in a report on Friday, February 28th. Piper Sandler lowered their price target on shares of Terreno Realty from $80.00 to $78.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They issued a "hold" rating and a $60.00 price target on the stock. JMP Securities restated a "market outperform" rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Finally, Barclays restated an "equal weight" rating and set a $60.00 target price (down previously from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Terreno Realty has a consensus rating of "Hold" and an average price target of $69.36.

Terreno Realty Trading Down 0.3 %

NYSE TRNO traded down $0.19 during mid-day trading on Wednesday, reaching $66.33. 650,416 shares of the stock were exchanged, compared to its average volume of 852,917. Terreno Realty Co. has a one year low of $53.78 and a one year high of $71.63. The stock has a market cap of $6.62 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.82 and a beta of 0.93. The stock has a 50 day simple moving average of $65.41 and a 200-day simple moving average of $63.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23.

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

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, March 27th. Terreno Realty's dividend payout ratio (DPR) is presently 102.08%.

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.