Terreno Realty (NYSE:TRNO) Announces Quarterly Earnings Results

Terreno Realty (NYSE:TRNO) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $1.53 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.68, FiscalAI reports. Terreno Realty had a net margin of 72.41% and a return on equity of 8.27%. The company had revenue of $137.48 million for the quarter, compared to analysts’ expectations of $124.72 million.

Terreno Realty Stock Performance

NYSE TRNO opened at $65.17 on Friday. The stock has a market cap of $6.74 billion, a PE ratio of 20.69, a P/E/G ratio of 2.59 and a beta of 1.13. Terreno Realty has a twelve month low of $48.18 and a twelve month high of $69.20. The stock has a fifty day simple moving average of $61.08 and a 200-day simple moving average of $59.12. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. Terreno Realty’s dividend payout ratio (DPR) is 66.03%.

Hedge Funds Weigh In On Terreno Realty

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its position in shares of Terreno Realty by 52.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 172 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 189 shares during the period. Smartleaf Asset Management LLC lifted its stake in Terreno Realty by 15.4% in the second quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 193 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Terreno Realty by 2.8% in the third quarter. Mackenzie Financial Corp now owns 7,072 shares of the real estate investment trust’s stock valued at $401,000 after acquiring an additional 193 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of Terreno Realty by 6.1% during the second quarter. Captrust Financial Advisors now owns 5,057 shares of the real estate investment trust’s stock worth $284,000 after acquiring an additional 290 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup reiterated an “outperform” rating on shares of Terreno Realty in a research note on Friday. KeyCorp reiterated an “overweight” rating on shares of Terreno Realty in a report on Wednesday, January 14th. Wells Fargo & Company increased their price target on shares of Terreno Realty from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Robert W. Baird set a $64.00 price objective on shares of Terreno Realty and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Finally, Barclays reiterated a “positive” rating and set a $60.00 price objective on shares of Terreno Realty in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.00.

About Terreno Realty

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.