Terreno Realty Co. to Post Q3 2024 Earnings of $0.64 Per Share, Wedbush Forecasts (NYSE:TRNO)

Terreno Realty Co. (NYSE:TRNO) – Stock analysts at Wedbush lifted their Q3 2024 earnings per share estimates for shares of Terreno Realty in a research report issued to clients and investors on Wednesday, March 27th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $0.64 per share for the quarter, up from their previous estimate of $0.61. Wedbush has a “Neutral” rating and a $67.00 price objective on the stock. The consensus estimate for Terreno Realty’s current full-year earnings is $2.39 per share. Wedbush also issued estimates for Terreno Realty’s Q4 2024 earnings at $0.65 EPS, FY2024 earnings at $2.48 EPS, Q1 2025 earnings at $0.65 EPS, Q2 2025 earnings at $0.67 EPS, Q3 2025 earnings at $0.68 EPS, Q4 2025 earnings at $0.70 EPS and FY2025 earnings at $2.70 EPS.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $86.48 million during the quarter, compared to analysts’ expectations of $84.06 million. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%.

A number of other equities analysts have also weighed in on TRNO. StockNews.com upgraded Terreno Realty from a “sell” rating to a “hold” rating in a research note on Saturday, March 23rd. Mizuho decreased their price target on Terreno Realty from $67.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 5th. The Goldman Sachs Group lifted their price target on Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. 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 target on the stock. Finally, Scotiabank lifted their price target on Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a research note on Monday, February 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $66.00.

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $66.41 on Friday. Terreno Realty has a 52 week low of $50.42 and a 52 week high of $66.47. The stock has a market capitalization of $5.98 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.04 and a beta of 0.81. The stock has a 50 day moving average price of $62.82 and a 200 day moving average price of $59.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.68 and a current ratio of 2.68.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Thursday, March 28th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is presently 99.45%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TRNO. Point72 Hong Kong Ltd bought a new stake in Terreno Realty in the 1st quarter valued at about $28,000. SRS Capital Advisors Inc. increased its position in Terreno Realty by 337.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 408 shares in the last quarter. Ronald Blue Trust Inc. increased its position in Terreno Realty by 93.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 260 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Terreno Realty in the 4th quarter valued at about $35,000. Finally, Pinebridge Investments L.P. bought a new stake in Terreno Realty in the 2nd quarter valued at about $49,000.

Terreno Realty Company Profile

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.