Allspring Global Investments Holdings LLC Sells 16,540 Shares of Terreno Realty Co. (NYSE:TRNO)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 323,156 shares of the real estate investment trust’s stock after selling 16,540 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Terreno Realty were worth $21,458,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Alliance Wealth Advisors LLC UT boosted its stake in Terreno Realty by 3.3% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 6,304 shares of the real estate investment trust’s stock valued at $395,000 after purchasing an additional 200 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Terreno Realty by 5.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,546 shares of the real estate investment trust’s stock valued at $348,000 after purchasing an additional 269 shares during the period. Raymond James Trust N.A. boosted its stake in Terreno Realty by 6.9% during the 4th quarter. Raymond James Trust N.A. now owns 4,846 shares of the real estate investment trust’s stock valued at $304,000 after purchasing an additional 313 shares during the period. Westpac Banking Corp boosted its stake in Terreno Realty by 2.1% during the 4th quarter. Westpac Banking Corp now owns 15,616 shares of the real estate investment trust’s stock valued at $979,000 after purchasing an additional 323 shares during the period. Finally, Cornercap Investment Counsel Inc. boosted its stake in Terreno Realty by 3.1% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 12,741 shares of the real estate investment trust’s stock valued at $798,000 after purchasing an additional 380 shares during the period.

Analysts Set New Price Targets

Several analysts recently weighed in on TRNO shares. Barclays decreased their target price on Terreno Realty from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price objective on shares of Terreno Realty in a research report on Monday, May 13th. Piper Sandler raised their price objective on Terreno Realty from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Finally, BNP Paribas began coverage on Terreno Realty in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $68.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Terreno Realty presently has an average rating of “Hold” and a consensus price target of $64.60.

Terreno Realty Trading Up 0.7 %

Shares of TRNO opened at $60.65 on Friday. Terreno Realty Co. has a 1 year low of $50.42 and a 1 year high of $66.63. The company has a current ratio of 10.17, a quick ratio of 10.17 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $56.99 and a 200-day simple moving average of $60.33. The stock has a market cap of $5.86 billion, a PE ratio of 31.59, a PEG ratio of 2.94 and a beta of 0.89.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.18). Terreno Realty had a net margin of 49.12% and a return on equity of 5.59%. The business had revenue of $85.03 million for the quarter, compared to analyst estimates of $86.56 million. On average, sell-side analysts predict that Terreno Realty Co. will post 2.28 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, June 28th. This represents a $1.80 dividend on an annualized basis and a yield of 2.97%. Terreno Realty’s dividend payout ratio is 93.75%.

Terreno Realty 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.