Sumitomo Mitsui Trust Group Inc. Acquires 2,463 Shares of Terreno Realty Corporation $TRNO

Sumitomo Mitsui Trust Group Inc. grew its holdings in Terreno Realty Corporation (NYSE:TRNO) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,252 shares of the real estate investment trust’s stock after purchasing an additional 2,463 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.11% of Terreno Realty worth $6,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norinchukin Bank The raised its position in shares of Terreno Realty by 4.5% in the first quarter. Norinchukin Bank The now owns 4,606 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 197 shares during the period. New York State Teachers Retirement System raised its position in shares of Terreno Realty by 0.9% in the first quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust’s stock valued at $1,448,000 after purchasing an additional 200 shares during the period. Alliance Wealth Advisors LLC UT increased its holdings in Terreno Realty by 2.2% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 9,297 shares of the real estate investment trust’s stock worth $588,000 after acquiring an additional 200 shares during the period. Fifth Third Bancorp increased its holdings in Terreno Realty by 3.2% during the 2nd quarter. Fifth Third Bancorp now owns 6,423 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 202 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Terreno Realty by 3.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,079 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 208 shares during the period.

Insider Buying and Selling

In other news, President Michael A. Coke sold 10,000 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the sale, the president owned 412,415 shares of the company’s stock, valued at approximately $22,253,913.40. This represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TRNO. Piper Sandler upped their target price on shares of Terreno Realty from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, September 18th. KeyCorp decreased their target price on shares of Terreno Realty from $70.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, August 21st. UBS Group set a $71.00 target price on shares of Terreno Realty in a report on Tuesday, October 21st. The Goldman Sachs Group upped their target price on shares of Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company decreased their target price on shares of Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.00.

Terreno Realty Price Performance

TRNO stock opened at $58.15 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $69.20. The stock has a market cap of $6.01 billion, a PE ratio of 23.08, a P/E/G ratio of 2.59 and a beta of 1.04. The firm has a 50 day simple moving average of $58.37 and a two-hundred day simple moving average of $57.32.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.49. Terreno Realty’s dividend payout ratio is presently 82.54%.

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.