Terreno Realty Corporation (NYSE:TRNO) Receives $69.50 Average Target Price from Brokerages

Terreno Realty Corporation (NYSE:TRNO) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $69.5714.

Several equities research analysts have weighed in on TRNO shares. Cantor Fitzgerald increased their price objective on Terreno Realty from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. UBS Group set a $72.00 price objective on Terreno Realty in a report on Monday, February 9th. KeyCorp increased their price objective on Terreno Realty from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Robert W. Baird set a $69.00 target price on Terreno Realty in a research report on Friday, May 8th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Terreno Realty by 57.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 159 shares in the last quarter. Wiser Advisor Group LLC bought a new position in shares of Terreno Realty in the 3rd quarter worth approximately $25,000. First Horizon Corp bought a new position in shares of Terreno Realty in the 3rd quarter worth approximately $26,000. Geneos Wealth Management Inc. raised its position 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 worth $29,000 after acquiring an additional 350 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Terreno Realty by 52.8% in 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 acquiring an additional 172 shares in the last quarter.

Terreno Realty Trading Down 0.5%

NYSE TRNO opened at $66.03 on Tuesday. Terreno Realty has a fifty-two week low of $53.00 and a fifty-two week high of $67.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50 day simple moving average of $64.29 and a two-hundred day simple moving average of $62.83. The stock has a market cap of $7.02 billion, a P/E ratio of 16.14 and a beta of 1.06.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.36. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The business had revenue of $124.44 million during the quarter, compared to analysts’ expectations of $122.60 million. On average, analysts forecast that Terreno Realty will post 2.79 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. Terreno Realty’s dividend payout ratio is currently 50.86%.

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.