Terreno Realty (NYSE:TRNO) Sets New 52-Week High – Still a Buy?

Shares of Terreno Realty Corporation (NYSE:TRNO) hit a new 52-week high on Monday . The company traded as high as $67.83 and last traded at $67.5750, with a volume of 134719 shares trading hands. The stock had previously closed at $67.33.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TRNO shares. KeyCorp reaffirmed an “overweight” rating on shares of Terreno Realty in a report on Tuesday, June 23rd. Weiss Ratings raised shares of Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. UBS Group set a $68.00 price target on shares of Terreno Realty in a research report on Thursday, June 18th. Robert W. Baird set a $69.00 price objective on shares of Terreno Realty in a report on Friday, May 8th. Finally, Raymond James Financial initiated coverage on shares of Terreno Realty in a research note on Wednesday, June 17th. They issued an “underperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.21.

Terreno Realty Trading Down 0.1%

The stock has a market cap of $7.31 billion, a PE ratio of 16.81 and a beta of 1.05. The company’s 50-day moving average price is $65.75 and its 200 day moving average price is $63.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $122.60 million. On average, sell-side analysts forecast that Terreno Realty Corporation will post 2.8 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, June 26th. Terreno Realty’s payout ratio is 50.86%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRNO. GAMMA Investing LLC raised its stake in shares of Terreno Realty by 30.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,557 shares of the real estate investment trust’s stock valued at $166,000 after acquiring an additional 590 shares during the period. Moody National Bank Trust Division boosted its position in shares of Terreno Realty by 15.3% during the 2nd quarter. Moody National Bank Trust Division now owns 11,727 shares of the real estate investment trust’s stock worth $760,000 after purchasing an additional 1,559 shares during the period. Empowered Funds LLC increased its holdings in Terreno Realty by 12.8% in the 1st quarter. Empowered Funds LLC now owns 3,649 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 414 shares during the last quarter. Glenmede Trust Co. NA raised its position in Terreno Realty by 2.8% in the first quarter. Glenmede Trust Co. NA now owns 14,548 shares of the real estate investment trust’s stock valued at $894,000 after purchasing an additional 403 shares during the period. Finally, Cim Investment Management Inc. purchased a new stake in Terreno Realty in the first quarter valued at approximately $204,000.

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.