Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 91,392 Terreno Realty Corporation $TRNO

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Terreno Realty Corporation (NYSE:TRNO) during the 2nd quarter, Holdings Channel reports. The firm acquired 91,392 shares of the real estate investment trust’s stock, valued at approximately $5,919,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in Terreno Realty by 246.6% during the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock valued at $257,257,000 after buying an additional 2,979,982 shares during the last quarter. Norges Bank purchased a new stake in shares of Terreno Realty in the 4th quarter worth $168,221,000. Bank of New York Mellon Corp purchased a new stake in shares of Terreno Realty in the 2nd quarter worth $53,869,000. Janus Henderson Group PLC raised its holdings in Terreno Realty by 1,252.5% in the 1st quarter. Janus Henderson Group PLC now owns 642,749 shares of the real estate investment trust’s stock worth $39,487,000 after purchasing an additional 595,225 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in Terreno Realty by 529.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 407,497 shares of the real estate investment trust’s stock valued at $23,924,000 after purchasing an additional 342,740 shares in the last quarter.

Insider Buying and Selling

In other news, EVP John Tull Meyer sold 4,447 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction of $305,242.08. Following the sale, the executive vice president directly owned 131,825 shares of the company’s stock, valued at $9,048,468. This represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael A. Coke sold 8,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the transaction, the president owned 425,381 shares of the company’s stock, valued at $29,087,552.78. This represents a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by corporate insiders.

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $68.21 on Friday. The company has a market cap of $7.43 billion, a P/E ratio of 18.29 and a beta of 1.03. Terreno Realty Corporation has a 52-week low of $55.70 and a 52-week high of $78.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. The firm’s fifty day moving average is $69.00 and its two-hundred day moving average is $66.19.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. The business had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. As a group, analysts anticipate that Terreno Realty Corporation will post 2.82 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. Terreno Realty’s dividend payout ratio is currently 55.76%.

Analyst Upgrades and Downgrades

A number of analysts have commented on TRNO shares. Barclays upped their price target on Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Cantor Fitzgerald increased their price objective on shares of Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Mizuho raised their price objective on shares of Terreno Realty from $56.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday. KeyCorp lifted their target price on shares of Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, Raymond James Financial assumed coverage on Terreno Realty in a research note on Wednesday, June 17th. They issued an “underperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Terreno Realty currently has an average rating of “Moderate Buy” and a consensus price target of $72.86.

Terreno Realty Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.