According to Zacks, “Terreno Realty Corporation is an internally managed real estate investment trust (REIT) focused on acquiring industrial real estate located in major coastal U.S. markets. The Company’s main focus is on markets in Los Angeles Area; Northern New Jersey/New York City; San Francisco Bay Area; Seattle Area; Miami Area; and Washington, D.C./Baltimore. Terreno Realty Corporation focuses on investing in several types of industrial real estate, including warehouse/distribution, flex (including light manufacturing, and research and development) and trans-shipment. The Company will target functional buildings in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets, in which it operates. The Company will utilize local third-party property managers for day-to-day property management. Terreno Realty Corporationy will make all operating and leasing decisions on its properties. “
Several other equities research analysts have also recently weighed in on TRNO. KeyCorp upped their target price on Terreno Realty from $49.00 to $52.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. ValuEngine cut Terreno Realty from a buy rating to a hold rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $49.25.
Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.18). Terreno Realty had a return on equity of 4.55% and a net margin of 36.83%. The firm had revenue of $41.73 million during the quarter, compared to analysts’ expectations of $41.53 million. Equities research analysts predict that Terreno Realty will post 1.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.00%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, October 3rd.
Several hedge funds have recently modified their holdings of TRNO. Marshall Wace North America L.P. lifted its holdings in shares of Terreno Realty by 50.1% in the 1st quarter. Marshall Wace North America L.P. now owns 2,318 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 774 shares during the period. First Trust Advisors LP lifted its stake in shares of Terreno Realty by 460.7% during the 1st quarter. First Trust Advisors LP now owns 62,196 shares of the real estate investment trust’s stock worth $2,615,000 after purchasing an additional 51,104 shares during the last quarter. Eii Capital Management Inc. lifted its stake in shares of Terreno Realty by 3.0% during the 2nd quarter. Eii Capital Management Inc. now owns 8,030 shares of the real estate investment trust’s stock worth $394,000 after purchasing an additional 233 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in shares of Terreno Realty by 16.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 17,872 shares of the real estate investment trust’s stock worth $876,000 after purchasing an additional 2,502 shares during the last quarter. Finally, Exane Derivatives lifted its stake in shares of Terreno Realty by 23,810.5% during the 2nd quarter. Exane Derivatives now owns 4,543 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 4,524 shares during the last quarter.
Terreno Realty Company Profile
Terreno Realty Corporation 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
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