Daiwa Securities Group Inc. Sells 970 Shares of Terreno Realty Co. (NYSE:TRNO)

Daiwa Securities Group Inc. cut its holdings in Terreno Realty Co. (NYSE:TRNO) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,887 shares of the real estate investment trust’s stock after selling 970 shares during the period. Daiwa Securities Group Inc.’s holdings in Terreno Realty were worth $1,945,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of Terreno Realty by 16.4% in the third quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock valued at $708,348,000 after acquiring an additional 1,496,666 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Terreno Realty by 339.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust’s stock valued at $40,842,000 after acquiring an additional 472,125 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Terreno Realty by 59.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,054,516 shares of the real estate investment trust’s stock valued at $70,473,000 after acquiring an additional 394,436 shares during the period. Bank of New York Mellon Corp increased its position in shares of Terreno Realty by 58.3% in the fourth 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 acquiring an additional 349,060 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Terreno Realty in the fourth quarter valued at about $19,792,000.

Wall Street Analysts Forecast Growth

TRNO has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $77.00 in a research report on Friday, February 21st. BMO Capital Markets boosted their price objective on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price target on the stock. Finally, Barclays reiterated an “equal weight” rating and set a $60.00 price target (down previously from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $69.36.

Terreno Realty Price Performance

Shares of TRNO opened at $66.35 on Friday. The stock has a market cap of $6.62 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. Terreno Realty Co. has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The firm’s 50-day simple moving average is $65.08 and its two-hundred day simple moving average is $63.97.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. Analysts anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

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.