Sumitomo Mitsui Trust Group Inc. Acquires 1,830 Shares of Terreno Realty Corporation (NYSE:TRNO)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Terreno Realty Corporation (NYSE:TRNO) by 1.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 109,789 shares of the real estate investment trust’s stock after acquiring an additional 1,830 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.11% of Terreno Realty worth $6,941,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 361 shares during the period. Quarry LP increased its holdings in Terreno Realty by 613.7% during the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 626 shares during the period. Quadrant Capital Group LLC increased its holdings in Terreno Realty by 94.6% during the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 370 shares during the period. Blue Trust Inc. increased its holdings in Terreno Realty by 143.6% during the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 655 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new position in Terreno Realty during the 4th quarter worth $71,000.

Terreno Realty Stock Up 0.8%

Shares of TRNO stock opened at $57.16 on Friday. The stock’s fifty day moving average price is $57.36 and its 200 day moving average price is $60.58. Terreno Realty Corporation has a 1-year low of $48.18 and a 1-year high of $71.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.35 and a quick ratio of 2.35. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 2.41 and a beta of 1.06.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a yield of 3.43%. Terreno Realty’s dividend payout ratio is currently 98.49%.

Wall Street Analysts Forecast Growth

TRNO has been the topic of several research reports. Scotiabank reduced their price objective on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 7th. Barclays cut their price target on Terreno Realty from $57.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 27th. Wells Fargo & Company cut their price target on Terreno Realty from $67.00 to $63.00 and set an “equal weight” rating on the stock in a report on Monday, May 19th. Wall Street Zen upgraded Terreno Realty from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th. Finally, Piper Sandler cut their price target on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.00.

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.