Terreno Realty Corporation (NYSE:TRNO) Receives $69.21 Average Target Price from Brokerages

Terreno Realty Corporation (NYSE:TRNO) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $69.2143.

A number of equities research analysts have recently commented on TRNO shares. Scotiabank lowered their target price on Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 18th. KeyCorp reiterated an “overweight” rating on shares of Terreno Realty in a research note on Tuesday, June 23rd. Raymond James Financial began coverage on shares of Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. UBS Group set a $68.00 target price on Terreno Realty in a research report on Thursday, June 18th. Finally, Robert W. Baird set a $69.00 price target on Terreno Realty in a report on Friday, May 8th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings 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 in the last quarter. Principal Financial Group Inc. grew its stake in Terreno Realty by 246.6% during the first 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 purchased a new position in Terreno Realty during the fourth quarter valued at approximately $168,221,000. Geode Capital Management LLC increased its holdings in Terreno Realty by 0.7% during 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 period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Terreno Realty by 3.6% during 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 period.

Terreno Realty Stock Performance

TRNO stock opened at $69.34 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $7.37 billion, a PE ratio of 16.95 and a beta of 1.05. The business has a 50 day moving average of $65.92 and a 200-day moving average of $64.05. Terreno Realty has a 12-month low of $53.00 and a 12-month high of $69.47.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.36. The business had revenue of $124.44 million for the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. As a group, sell-side analysts expect that Terreno Realty will post 2.8 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.08 dividend on an annualized basis and a yield of 3.0%. Terreno Realty’s dividend payout ratio 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.