Resona Asset Management Co. Ltd. Makes New Investment in Terreno Realty Co. (NYSE:TRNO)

Resona Asset Management Co. Ltd. acquired a new position in shares of Terreno Realty Co. (NYSE:TRNO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 39,806 shares of the real estate investment trust’s stock, valued at approximately $2,352,000.

A number of other institutional investors have also recently bought and sold shares of TRNO. Vanguard Group Inc. lifted its holdings in shares of Terreno Realty by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after buying an additional 1,484,301 shares during the last quarter. Norges Bank acquired a new stake in shares of Terreno Realty during the 4th quarter valued at about $58,818,000. Bank of New York Mellon Corp lifted its holdings in shares of Terreno Realty by 58.3% during 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 buying an additional 349,060 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Terreno Realty during the 4th quarter valued at about $19,792,000. Finally, Congress Asset Management Co. lifted its holdings in shares of Terreno Realty by 72.0% during the 4th quarter. Congress Asset Management Co. now owns 449,093 shares of the real estate investment trust’s stock valued at $26,559,000 after buying an additional 188,060 shares during the last quarter.

Terreno Realty Stock Performance

Shares of 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. The business’s 50 day moving average is $64.57 and its two-hundred day moving average is $62.85. The company has a market cap of $5.76 billion, a P/E ratio of 29.10, a P/E/G ratio of 2.82 and a beta of 1.00. Terreno Realty Co. has a 12 month low of $48.18 and a 12 month high of $71.63.

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 (EPS) for the quarter, beating 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%. On average, equities analysts expect that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were paid a $0.49 dividend. 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 dividend payout ratio is 102.08%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TRNO. Scotiabank reduced their price target on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $77.00 in a research note on Friday, February 21st. Barclays cut their price objective on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. Piper Sandler downgraded Terreno Realty from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $78.00 to $61.00 in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Terreno Realty presently has an average rating of “Hold” and an average price target of $66.55.

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.