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

Terreno Realty (NYSE:TRNO) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17, FiscalAI reports. The firm had revenue of $132.23 million for the quarter, compared to analysts’ expectations of $128.72 million. Terreno Realty had a net margin of 68.05% and a return on equity of 8.23%.

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $67.03 on Friday. The firm’s 50-day moving average price is $65.52 and its 200-day moving average price is $65.87. Terreno Realty has a 52-week low of $57.95 and a 52-week high of $78.94. The company has a market cap of $7.30 billion, a PE ratio of 23.20 and a beta of 0.98. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, December 15th. Terreno Realty’s dividend payout ratio (DPR) is presently 61.13%.

Analyst Ratings Changes

TRNO has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Wells Fargo & Company increased their target price on Terreno Realty from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 1st. Weiss Ratings lowered Terreno Realty from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd. Jefferies Financial Group restated a “buy” rating and issued a $74.00 price target on shares of Terreno Realty in a research note on Monday. Finally, UBS Group set a $74.00 price target on Terreno Realty in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.50.

Insider Buying and Selling at Terreno Realty

In other news, EVP John Meyer sold 4,447 shares of the business’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 transaction of $305,242.08. Following the completion of the transaction, the executive vice president directly owned 131,825 shares of the company’s stock, valued at $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by insiders.

About Terreno Realty

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.