Terreno Realty Corporation (NYSE:TRNO) Given Consensus Rating of “Hold” by Brokerages

Shares of Terreno Realty Corporation (NYSE:TRNO) have received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $65.00.

Several equities research analysts have issued reports on TRNO shares. KeyCorp lowered their price target on shares of Terreno Realty from $70.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, August 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Terreno Realty in a research note on Wednesday, October 8th. Wells Fargo & Company cut their price target on shares of Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Barclays lifted their price objective on Terreno Realty from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, September 15th. Finally, Piper Sandler increased their target price on Terreno Realty from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, September 18th.

Terreno Realty Trading Up 1.7%

Shares of TRNO opened at $58.97 on Friday. The stock’s 50-day moving average price is $58.47 and its 200 day moving average price is $57.37. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.51 and a beta of 1.07. Terreno Realty has a 12-month low of $48.18 and a 12-month high of $69.20.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.34. The company had revenue of $116.25 million for the quarter, compared to analyst estimates of $114.62 million. Terreno Realty had a return on equity of 6.71% and a net margin of 59.56%. As a group, research analysts predict that Terreno Realty will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, December 15th. Terreno Realty’s dividend payout ratio is currently 82.54%.

Insider Activity at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the sale, the president owned 412,415 shares of the company’s stock, valued at approximately $22,253,913.40. This represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Terreno Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. GAMMA Investing LLC increased its holdings in shares of Terreno Realty by 840.2% during the first quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 1,109 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Terreno Realty by 10.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,256 shares of the real estate investment trust’s stock worth $522,000 after acquiring an additional 750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Terreno Realty by 1.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 109,789 shares of the real estate investment trust’s stock valued at $6,941,000 after purchasing an additional 1,830 shares in the last quarter. KBC Group NV raised its position in Terreno Realty by 12.8% in the 1st quarter. KBC Group NV now owns 4,132 shares of the real estate investment trust’s stock valued at $261,000 after purchasing an additional 470 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in Terreno Realty by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust’s stock valued at $1,448,000 after purchasing an additional 200 shares during the last quarter.

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.