Zacks: Analysts Expect Terreno Realty Co. (TRNO) Will Announce Earnings of $0.28 Per Share
Wall Street analysts expect that Terreno Realty Co. (NYSE:TRNO) will post $0.28 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Terreno Realty’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.26. Terreno Realty reported earnings per share of $0.22 during the same quarter last year, which would suggest a positive year-over-year growth rate of 27.3%. The company is expected to announce its next earnings report on Wednesday, May 3rd.
According to Zacks, analysts expect that Terreno Realty will report full-year earnings of $0.91 per share for the current financial year, with EPS estimates ranging from $0.88 to $0.96. For the next fiscal year, analysts anticipate that the business will post earnings of $1.13 per share, with EPS estimates ranging from $1.09 to $1.17. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Terreno Realty.
TRNO has been the topic of a number of analyst reports. Zacks Investment Research upgraded Terreno Realty from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Saturday, February 18th. Stifel Nicolaus lifted their price objective on Terreno Realty from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. National Securities reiterated a “buy” rating and set a $29.00 price objective (up previously from $28.00) on shares of Terreno Realty in a research report on Monday, March 20th. Jefferies Group LLC restated a “hold” rating and issued a $29.00 target price on shares of Terreno Realty in a research report on Monday. Finally, FBR & Co lifted their target price on Terreno Realty from $26.00 to $28.00 and gave the company a “market perform” rating in a research report on Thursday, February 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.83.
Shares of Terreno Realty (NYSE:TRNO) traded up 0.67% on Friday, hitting $29.90. The company had a trading volume of 233,136 shares. Terreno Realty has a 52 week low of $22.26 and a 52 week high of $29.99. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 116.80 and a beta of 0.77. The stock’s 50-day moving average is $28.01 and its 200 day moving average is $27.35.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 12th. Stockholders of record on Tuesday, March 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 24th. This represents a $0.80 annualized dividend and a dividend yield of 2.68%. Terreno Realty’s dividend payout ratio is currently 347.83%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY boosted its position in Terreno Realty by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 33,808 shares of the real estate investment trust’s stock valued at $963,000 after buying an additional 117 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Terreno Realty by 1.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 62,782 shares of the real estate investment trust’s stock valued at $1,788,000 after buying an additional 935 shares during the last quarter. Harrison Street Securities LLC increased its stake in Terreno Realty by 11.6% in the third quarter. Harrison Street Securities LLC now owns 14,446 shares of the real estate investment trust’s stock valued at $397,000 after buying an additional 1,497 shares during the last quarter. Macquarie Group Ltd. increased its stake in Terreno Realty by 3.6% in the fourth quarter. Macquarie Group Ltd. now owns 59,997 shares of the real estate investment trust’s stock valued at $1,709,000 after buying an additional 2,100 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Terreno Realty by 4.8% in the third quarter. Rhumbline Advisers now owns 54,378 shares of the real estate investment trust’s stock valued at $1,496,000 after buying an additional 2,490 shares during the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.
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About Terreno Realty
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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