Analysts Set Terreno Realty Corporation (NYSE:TRNO) Price Target at $72.86

Shares of Terreno Realty Corporation (NYSE:TRNO) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $72.8571.

Several brokerages have recently weighed in on TRNO. Robert W. Baird set a $69.00 target price on shares of Terreno Realty in a research note on Friday, May 8th. KeyCorp lifted their price target on shares of Terreno Realty from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Scotiabank upped their price target on shares of Terreno Realty from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Terreno Realty in a research report on Friday, July 31st. Finally, Wells Fargo & Company decreased their price objective on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st.

Terreno Realty Stock Performance

NYSE TRNO opened at $66.57 on Thursday. The company has a market cap of $7.25 billion, a P/E ratio of 17.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. The business’s 50 day moving average price is $69.26 and its 200-day moving average price is $66.32. Terreno Realty has a fifty-two week low of $55.71 and a fifty-two week high of $78.94.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. The company had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.15 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. Sell-side analysts predict that Terreno Realty will post 2.82 earnings per share for the current year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a $0.57 dividend. The ex-dividend date is Wednesday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 3.4%. Terreno Realty’s dividend payout ratio (DPR) is currently 55.76%.

Insider Activity at Terreno Realty

In related news, President Michael A. Coke sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the sale, the president directly owned 425,381 shares of the company’s stock, valued at approximately $29,087,552.78. This trade represents a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Tull Meyer sold 4,447 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the sale, the executive vice president directly owned 131,825 shares of the company’s stock, valued at $9,048,468. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Terreno Realty

Several institutional investors and hedge funds have recently made changes to their positions in the business. Clearstead Trust LLC bought a new position in shares of Terreno Realty in the second quarter worth about $28,000. EverSource Wealth Advisors LLC increased its stake in Terreno Realty by 57.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 159 shares during the period. Wiser Advisor Group LLC bought a new stake in Terreno Realty during the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its holdings in Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 350 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 172 shares during the period.

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.