Sumitomo Mitsui Trust Group Inc. Purchases 1,681 Shares of Terreno Realty Co. (NYSE:TRNO)

Sumitomo Mitsui Trust Group Inc. lifted its position in Terreno Realty Co. (NYSE:TRNO) by 1.6% during the 4th quarter, HoldingsChannel reports. The firm owned 107,959 shares of the real estate investment trust’s stock after buying an additional 1,681 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Terreno Realty were worth $6,385,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Huntington National Bank increased its stake in Terreno Realty by 7.4% in the third quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 177 shares during the last quarter. MML Investors Services LLC increased its stake in Terreno Realty by 6.1% in the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 249 shares during the last quarter. Creative Planning increased its stake in Terreno Realty by 7.0% in the second quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 312 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Terreno Realty by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 120,450 shares of the real estate investment trust’s stock valued at $8,050,000 after acquiring an additional 370 shares during the last quarter. Finally, Assetmark Inc. increased its stake in Terreno Realty by 2,381.3% in the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 381 shares during the last quarter.

Terreno Realty Stock Performance

Terreno Realty stock opened at $67.24 on Friday. The company has a current ratio of 0.23, a quick ratio of 2.71 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $61.95 and a 200-day moving average of $64.05. The firm has a market cap of $6.71 billion, a P/E ratio of 35.02, a P/E/G ratio of 2.85 and a beta of 0.91. Terreno Realty Co. has a 1-year low of $53.78 and a 1-year high of $71.63.

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

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 2.91%. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BMO Capital Markets increased their target price on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research note on Wednesday. Barclays reaffirmed an “equal weight” rating and set a $60.00 price objective (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 research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Piper Sandler reduced their price objective on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $72.00 price objective on shares of Terreno Realty in a research note on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Terreno Realty has an average rating of “Hold” and a consensus target price of $68.45.

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.