Terreno Realty (NYSE:TRNO) Sets New 52-Week High at $66.34

Terreno Realty Co. (NYSE:TRNO) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $66.34 and last traded at $65.89, with a volume of 79449 shares changing hands. The stock had previously closed at $65.33.

Analysts Set New Price Targets

TRNO has been the topic of a number of research reports. Wells Fargo & Company assumed coverage on Terreno Realty in a research note on Thursday, December 7th. They issued an “overweight” rating and a $71.00 price objective on the stock. Scotiabank boosted their price target on shares of Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Barclays initiated coverage on shares of Terreno Realty in a report on Wednesday. They issued an “overweight” rating and a $71.00 target price on the stock. Mizuho reduced their target price on shares of Terreno Realty from $67.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, December 5th. Finally, Piper Sandler upped their price target on Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.00.

Terreno Realty Stock Performance

The stock has a market capitalization of $5.95 billion, a PE ratio of 36.44, a P/E/G ratio of 2.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a 50 day moving average of $62.72 and a 200-day moving average of $59.73.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. The business had revenue of $86.48 million during the quarter, compared to analysts’ expectations of $84.06 million. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. Research analysts forecast that Terreno Realty Co. will post 2.39 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Thursday, March 28th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.72%. Terreno Realty’s dividend payout ratio is 99.45%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd acquired a new position in Terreno Realty during the first quarter valued at approximately $28,000. Ronald Blue Trust Inc. boosted its position in shares of Terreno Realty by 93.9% in the third quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 260 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of Terreno Realty by 337.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 408 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Terreno Realty during the fourth quarter worth $35,000. Finally, Pinebridge Investments L.P. acquired a new position in Terreno Realty during the 2nd quarter valued at $49,000.

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.