Resona Asset Management Co. Ltd. Acquires New Shares in Terreno Realty Co. (NYSE:TRNO)

Resona Asset Management Co. Ltd. acquired a new stake in Terreno Realty Co. (NYSE:TRNO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 39,806 shares of the real estate investment trust’s stock, valued at approximately $2,352,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new stake in Terreno Realty in the fourth quarter valued at about $27,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Terreno Realty by 176.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 361 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Terreno Realty in the fourth quarter worth about $76,000. Los Angeles Capital Management LLC bought a new stake in shares of Terreno Realty in the fourth quarter worth about $202,000. Finally, Virtu Financial LLC bought a new stake in shares of Terreno Realty in the fourth quarter worth about $205,000.

Analyst Ratings Changes

Several equities research analysts have issued reports on TRNO shares. BMO Capital Markets increased their price target on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. Barclays reduced their price objective on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. Piper Sandler cut Terreno Realty from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $78.00 to $61.00 in a research report on Monday. Finally, The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $66.55.

Terreno Realty Trading Up 9.2 %

NYSE TRNO opened at $55.87 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a twelve month low of $48.18 and a twelve month high of $71.63. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00. The business’s fifty day moving average is $64.57 and its 200 day moving average is $62.85.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, sell-side analysts expect that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Thursday, March 27th. Terreno Realty’s payout ratio 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.