Terreno Realty Corporation (NYSE:TRNO) Receives $71.71 Average Price Target from Analysts

Shares of Terreno Realty Corporation (NYSE:TRNO) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities 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 issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $71.7143.

Several analysts have recently commented on the company. UBS Group set a $68.00 target price on Terreno Realty in a report on Thursday, June 18th. Weiss Ratings restated a “buy (b)” rating on shares of Terreno Realty in a research report on Friday, July 31st. Robert W. Baird set a $69.00 price target on Terreno Realty in a research note on Friday, May 8th. Raymond James Financial started coverage on Terreno Realty in a report on Wednesday, June 17th. They issued an “underperform” rating on the stock. Finally, Citigroup reiterated an “outperform” rating on shares of Terreno Realty in a research report on Thursday.

Institutional Trading of Terreno Realty

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Terreno Realty by 73.3% during the 2nd 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 last quarter. Wiser Advisor Group LLC bought a new stake in Terreno Realty during the third quarter worth about $25,000. Clearstead Trust LLC acquired a new position in Terreno Realty during the second quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Terreno Realty by 52.8% during the 3rd 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 during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 350 shares during the period.

Terreno Realty Price Performance

Shares of TRNO stock opened at $68.63 on Friday. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 18.40 and a beta of 1.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.91. The stock’s fifty day simple moving average is $68.33 and its 200 day simple moving average is $65.72. Terreno Realty has a one year low of $53.00 and a one year high of $78.94.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. The firm had revenue of $124.71 million during the quarter, compared to the consensus estimate of $126.46 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. On average, analysts expect that Terreno Realty will post 2.82 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty’s payout ratio is presently 55.76%.

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.