Q1 2018 Earnings Forecast for Terreno Realty Co. Issued By KeyCorp (TRNO)
Terreno Realty Co. (NYSE:TRNO) – Equities researchers at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for shares of Terreno Realty in a research report issued to clients and investors on Thursday. KeyCorp analyst C. Mailman forecasts that the real estate investment trust will post earnings of $0.29 per share for the quarter. KeyCorp has a “Buy” rating and a $39.00 price objective on the stock. KeyCorp also issued estimates for Terreno Realty’s Q2 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.29 EPS and Q4 2018 earnings at $0.30 EPS.
Several other equities research analysts have also issued reports on TRNO. B. Riley set a $36.00 price objective on Terreno Realty and gave the company a “hold” rating in a research note on Monday. Robert W. Baird set a $34.00 price objective on Terreno Realty and gave the company a “hold” rating in a research note on Thursday, February 8th. DA Davidson reissued a “buy” rating on shares of Terreno Realty in a research note on Friday, February 9th. Sandler O’Neill set a $38.00 price objective on Terreno Realty and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Zacks Investment Research raised Terreno Realty from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $38.09.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Wednesday, March 28th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 27th. This represents a $0.88 dividend on an annualized basis and a yield of 2.61%. Terreno Realty’s payout ratio is 92.63%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRNO. Oak Ridge Investments LLC purchased a new stake in Terreno Realty during the third quarter valued at about $21,556,000. Chevy Chase Trust Holdings Inc. increased its holdings in shares of Terreno Realty by 142.8% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 900,290 shares of the real estate investment trust’s stock worth $32,573,000 after buying an additional 529,465 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Terreno Realty in the second quarter worth about $14,854,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Terreno Realty in the fourth quarter worth about $11,640,000. Finally, BlackRock Inc. increased its holdings in shares of Terreno Realty by 5.2% in the fourth quarter. BlackRock Inc. now owns 6,368,876 shares of the real estate investment trust’s stock worth $223,293,000 after buying an additional 312,221 shares during the period. Institutional investors and hedge funds own 99.13% of the company’s stock.
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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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