Terreno Realty (NYSE:TRNO) Reaches New 52-Week High – Should You Buy?

Terreno Realty Corporation (NYSE:TRNO)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $67.63 and last traded at $67.5980, with a volume of 61594 shares trading hands. The stock had previously closed at $66.93.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Scotiabank lifted their price target on Terreno Realty from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Citigroup boosted their price target on shares of Terreno Realty from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Robert W. Baird set a $69.00 target price on shares of Terreno Realty in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Terreno Realty has an average rating of “Moderate Buy” and an average target price of $69.64.

Terreno Realty Trading Up 0.3%

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The company has a market cap of $7.14 billion, a PE ratio of 16.41 and a beta of 1.05. The business’s 50-day simple moving average is $65.11 and its 200-day simple moving average is $63.29.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.36. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. The business had revenue of $124.44 million for the quarter, compared to the consensus estimate of $122.60 million. As a group, analysts expect that Terreno Realty Corporation will post 2.79 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. Terreno Realty’s dividend payout ratio is 50.86%.

Hedge Funds Weigh In On Terreno Realty

Several hedge funds have recently bought and sold shares of TRNO. State Street Corp boosted its stake in shares of Terreno Realty by 4.0% during the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock worth $336,139,000 after acquiring an additional 230,444 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of 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 valued at $257,257,000 after acquiring an additional 2,979,982 shares in the last quarter. Norges Bank acquired a new stake in Terreno Realty in the 4th quarter worth approximately $168,221,000. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 17,921 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Terreno Realty by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,078,910 shares of the real estate investment trust’s stock valued at $122,053,000 after purchasing an additional 72,909 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.