Terreno Realty (NYSE:TRNO) Sees Unusually-High Trading Volume

Shares of Terreno Realty Co. (NYSE:TRNO) saw an uptick in trading volume on Tuesday . 1,072,218 shares changed hands during trading, an increase of 79% from the previous session’s volume of 599,269 shares.The stock last traded at $63.65 and had previously closed at $63.98.

Analyst Upgrades and Downgrades

TRNO has been the subject of a number of research reports. Mizuho lowered their price target on shares of Terreno Realty from $67.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, December 5th. Piper Sandler upped their target price on shares of Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Scotiabank lifted their price objective on Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. The Goldman Sachs Group boosted their price objective on shares of Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Finally, Barclays started coverage on shares of Terreno Realty in a research note on Wednesday. They set an “overweight” rating and a $71.00 price target for the company. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.89.

Terreno Realty Stock Up 2.3 %

The stock’s 50-day moving average is $62.72 and its 200-day moving average is $59.73. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 2.97 and a beta of 0.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.28.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. The business had revenue of $86.48 million during the quarter, compared to analyst estimates of $84.06 million. On average, analysts anticipate that Terreno Realty Co. will post 2.39 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Thursday, March 28th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.75%. Terreno Realty’s dividend payout ratio is currently 99.45%.

Hedge Funds Weigh In On Terreno Realty

Several hedge funds and other institutional investors have recently modified their holdings of TRNO. Point72 Hong Kong Ltd bought a new stake in Terreno Realty in the 1st quarter worth about $28,000. SRS Capital Advisors Inc. boosted its stake in Terreno Realty by 337.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 408 shares during the period. Ronald Blue Trust Inc. grew its position in shares of Terreno Realty by 93.9% during the third quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 260 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Terreno Realty during the fourth quarter valued at $35,000. Finally, Pinebridge Investments L.P. purchased a new position in shares of Terreno Realty in the 2nd quarter worth approximately $49,000.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.