Terreno Realty Corporation (NYSE:TRNO) Receives $72.86 Consensus PT from Brokerages

Shares of Terreno Realty Corporation (NYSE:TRNO) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $72.8571.

A number of equities research analysts have weighed in on TRNO shares. UBS Group set a $68.00 price objective on Terreno Realty in a research note on Thursday, June 18th. Scotiabank upped their target price on Terreno Realty from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Citigroup increased their target price on Terreno Realty from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Barclays raised their price target on shares of Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Piper Sandler lifted their price target on shares of Terreno Realty from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st.

Terreno Realty Stock Performance

NYSE:TRNO opened at $66.14 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50-day moving average of $69.28 and a two-hundred day moving average of $66.32. The stock has a market cap of $7.21 billion, a P/E ratio of 17.73 and a beta of 1.03. Terreno Realty has a 1-year low of $55.71 and a 1-year high of $78.94.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The company had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. On average, research analysts expect that Terreno Realty will post 2.82 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.57 per share. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a yield of 3.4%. Terreno Realty’s payout ratio is currently 55.76%.

Insider Buying and Selling at Terreno Realty

In other news, EVP John Tull Meyer sold 4,447 shares of the business’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael A. Coke sold 8,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the sale, the president owned 425,381 shares in the company, valued at approximately $29,087,552.78. This trade represents a 1.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by company insiders.

Institutional Trading of Terreno Realty

Several hedge funds and other institutional investors have recently bought and sold shares of TRNO. BlackRock Inc. bought a new position in Terreno Realty during the 2nd quarter worth approximately $1,213,726,000. California State Teachers Retirement System increased its holdings in shares of Terreno Realty by 6,470.7% in the 2nd quarter. California State Teachers Retirement System now owns 7,988,278 shares of the real estate investment trust’s stock valued at $517,401,000 after acquiring an additional 7,866,703 shares during the last quarter. State Street Corp raised its position in shares of Terreno Realty by 4.0% during the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after acquiring an additional 230,444 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Terreno Realty by 246.6% during the 1st 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. Finally, Norges Bank bought a new position in Terreno Realty during the fourth quarter worth $168,221,000.

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.