Terreno Realty (NYSE:TRNO) Announces Quarterly Earnings Results

Terreno Realty (NYSE:TRNO) posted its earnings results on Wednesday. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13, FiscalAI reports. The firm had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.17 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%.

Terreno Realty Trading Down 1.1%

Shares of Terreno Realty stock traded down $0.80 during trading hours on Wednesday, hitting $69.56. The company’s stock had a trading volume of 620,671 shares, compared to its average volume of 772,223. The business has a fifty day moving average of $68.19 and a 200 day moving average of $65.60. Terreno Realty has a 1-year low of $53.00 and a 1-year high of $78.94. 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 company has a market capitalization of $7.39 billion, a PE ratio of 17.01 and a beta of 1.03.

Institutional Trading of Terreno Realty

A number of institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new position in shares of Terreno Realty during the fourth quarter worth about $190,000. Utah Retirement Systems purchased a new stake in shares of Terreno Realty during the 4th quarter valued at about $438,000. Wellington Management Group LLP raised its holdings in shares of Terreno Realty by 9.0% during the 4th quarter. Wellington Management Group LLP now owns 780,705 shares of the real estate investment trust’s stock valued at $45,835,000 after buying an additional 64,607 shares during the period. Susquehanna Portfolio Strategies LLC lifted its position in Terreno Realty by 306.9% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 119,814 shares of the real estate investment trust’s stock worth $7,034,000 after acquiring an additional 90,367 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in Terreno Realty by 339.4% in the 4th quarter. Tudor Investment Corp ET AL now owns 171,222 shares of the real estate investment trust’s stock worth $10,052,000 after acquiring an additional 132,255 shares during the period.

Wall Street Analyst Weigh In

TRNO has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. KeyCorp reaffirmed an “overweight” rating on shares of Terreno Realty in a research note on Tuesday, June 23rd. The Goldman Sachs Group increased their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Raymond James Financial began coverage on Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating for the company. Finally, Robert W. Baird set a $69.00 target price on Terreno Realty in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Terreno Realty presently has a consensus rating of “Moderate Buy” and an average price target of $71.71.

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.