Mitsubishi UFJ Asset Management Co. Ltd. Buys New Position in Terreno Realty Corporation $TRNO

Key Points

• Mitsubishi UFJ Asset Management acquired 91,392 Terreno Realty shares worth approximately $5.9 million, representing a 0.09% stake. Other institutional investors also adjusted their positions, generally adding shares.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $72.86; several firms recently raised their targets.
• Terreno Realty reported quarterly EPS of $0.54, exceeding estimates of $0.41, and increased its quarterly dividend from $0.52 to $0.57 per share, implying a 3.3% annualized yield.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Terreno Realty Corporation (NYSE:TRNO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 91,392 shares of the real estate investment trust's stock, valued at approximately $5,919,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.09% of Terreno Realty as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TRNO. Clearstead Trust LLC purchased a new stake in shares of Terreno Realty in the 2nd quarter worth about $28,000. EverSource Wealth Advisors LLC increased its position in shares of Terreno Realty by 57.0% during the first quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 159 shares during the period. Wiser Advisor Group LLC purchased a new position in shares of Terreno Realty during the third quarter valued at about $25,000. Geneos Wealth Management Inc. raised its stake in Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock worth $29,000 after buying an additional 350 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Terreno Realty by 52.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust's stock worth $28,000 after buying an additional 172 shares during the period.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Terreno Realty in a report on Friday, July 31st. Cantor Fitzgerald upped their price target on Terreno Realty from $75.00 to $77.00 and gave the stock an "overweight" rating in a research note on Monday, August 17th. UBS Group set a $68.00 price objective on Terreno Realty in a research report on Thursday, June 18th. KeyCorp upped their target price on shares of Terreno Realty from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Finally, Piper Sandler increased their price target on shares of Terreno Realty from $79.00 to $91.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $72.86.

Terreno Realty Trading Down 0.3%

NYSE TRNO opened at $68.21 on Friday. Terreno Realty Corporation has a 12 month low of $55.70 and a 12 month high of $78.94. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. The stock's fifty day moving average price is $69.00 and its 200-day moving average price is $66.19. The stock has a market cap of $7.43 billion, a P/E ratio of 18.29 and a beta of 1.03.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. The company had revenue of $124.71 million for the quarter, compared to analysts' expectations of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. As a group, equities analysts forecast that Terreno Realty Corporation will post 2.82 EPS for the current fiscal year.

Terreno Realty Increases Dividend

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

Insider Transactions at Terreno Realty

In other news, EVP John Tull Meyer sold 4,447 shares of Terreno Realty stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the sale, the executive vice president directly owned 131,825 shares in the company, valued at $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Michael A. Coke sold 8,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the transaction, the president directly owned 425,381 shares of the company's stock, valued at $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source