Terreno Realty (NYSE:TRNO) Announces Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Terreno Realty (NYSE:TRNO) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17, FiscalAI reports. The business had revenue of $132.23 million during the quarter, compared to analyst estimates of $128.72 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%.

Terreno Realty Trading Up 2.0%

Terreno Realty stock traded up $1.35 during mid-day trading on Wednesday, reaching $68.01. 818,389 shares of the company traded hands, compared to its average volume of 754,520. The firm’s 50 day moving average price is $65.54 and its 200 day moving average price is $65.81. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 18.23 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. Terreno Realty has a 52-week low of $57.71 and a 52-week high of $78.94.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Mizuho increased their price objective on Terreno Realty from $56.00 to $60.00 and gave the stock an “underperform” rating in a report on Wednesday, August 19th. Citigroup reaffirmed a “market outperform” rating on shares of Terreno Realty in a report on Wednesday, October 7th. KeyCorp lifted their price target on Terreno Realty from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. BMO Capital Markets upgraded shares of Terreno Realty from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Monday, October 12th. Finally, Barclays increased their target price on shares of Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.50.

Insider Activity

In other Terreno Realty news, President Michael Coke sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the transaction, the president owned 425,381 shares in the company, valued at approximately $29,087,552.78. This represents a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Meyer sold 4,447 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the transaction, the executive vice president owned 131,825 shares of the company’s stock, valued at approximately $9,048,468. The trade was a 3.26% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.90% of the company’s stock.

Terreno Realty Company Profile

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno’s portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.