Terreno Realty Corporation (NYSE:TRNO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Terreno Realty Corporation (NYSE:TRNO) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $69.6429.

TRNO has been the topic of a number of recent research reports. Robert W. Baird set a $69.00 target price on Terreno Realty in a report on Friday, May 8th. Scotiabank increased their target price on Terreno Realty from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Raymond James Financial began coverage on Terreno Realty in a research note on Wednesday. They issued an “underperform” rating on the stock. Finally, Wells Fargo & Company decreased their price objective on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Terreno Realty by 4.0% in the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock worth $336,139,000 after buying an additional 230,444 shares during the period. Principal Financial Group Inc. increased its stake in Terreno Realty by 246.6% in the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after acquiring an additional 2,979,982 shares during the last quarter. Norges Bank bought a new stake in Terreno Realty in the 4th quarter worth approximately $168,221,000. Geode Capital Management LLC increased its stake in Terreno Realty by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock worth $159,620,000 after acquiring an additional 17,921 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Terreno Realty by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,078,910 shares of the real estate investment trust’s stock worth $122,053,000 after acquiring an additional 72,909 shares during the last quarter.

Terreno Realty Stock Down 3.6%

TRNO stock opened at $63.92 on Friday. Terreno Realty has a fifty-two week low of $53.00 and a fifty-two week high of $67.83. The business’s 50-day moving average is $65.64 and its two-hundred day moving average is $63.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 15.63 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.36. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The company had revenue of $124.44 million for the quarter, compared to the consensus estimate of $122.60 million. As a group, analysts forecast that Terreno Realty will post 2.79 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, July 10th. Stockholders of record on Friday, June 26th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. Terreno Realty’s dividend payout ratio (DPR) is 50.86%.

Terreno Realty Company Profile

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.