Terreno Realty Co. (NYSE:TRNO) Receives Average Rating of “Moderate Buy” from Analysts

Terreno Realty Co. (NYSE:TRNOGet Rating) has been given an average recommendation of “Moderate Buy” by the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $74.13.

Several analysts have recently commented on TRNO shares. Piper Sandler reduced their price target on shares of Terreno Realty to $73.00 in a research report on Monday, July 4th. The Goldman Sachs Group reduced their price target on shares of Terreno Realty from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, June 16th. TheStreet lowered shares of Terreno Realty from a “b” rating to a “c+” rating in a research report on Thursday, May 19th. Jefferies Financial Group dropped their target price on shares of Terreno Realty from $88.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Finally, JMP Securities began coverage on shares of Terreno Realty in a report on Wednesday, May 18th. They issued an “outperform” rating and a $75.00 target price for the company.

Institutional Investors Weigh In On Terreno Realty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC lifted its position in Terreno Realty by 34.1% in the first quarter. Los Angeles Capital Management LLC now owns 6,348 shares of the real estate investment trust’s stock valued at $470,000 after acquiring an additional 1,614 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Terreno Realty by 6.5% in the first quarter. Truist Financial Corp now owns 10,666 shares of the real estate investment trust’s stock valued at $790,000 after buying an additional 649 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Terreno Realty by 3.9% in the fourth quarter. Rhumbline Advisers now owns 117,369 shares of the real estate investment trust’s stock valued at $10,010,000 after buying an additional 4,456 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Terreno Realty by 0.6% in the first quarter. California Public Employees Retirement System now owns 160,784 shares of the real estate investment trust’s stock valued at $11,906,000 after buying an additional 1,012 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Terreno Realty by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 149,069 shares of the real estate investment trust’s stock valued at $11,039,000 after buying an additional 2,627 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Terreno Realty Trading Down 0.2 %

TRNO opened at $59.99 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13. The company’s 50 day simple moving average is $60.49 and its two-hundred day simple moving average is $65.33. Terreno Realty has a 1-year low of $54.51 and a 1-year high of $86.00. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 26.31 and a beta of 0.75.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.34. Terreno Realty’s payout ratio is presently 59.65%.

Terreno Realty Company Profile

(Get Rating)

Terreno Realty Corporation 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 condensed notes to the consolidated financial statements are unaudited.

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Analyst Recommendations for Terreno Realty (NYSE:TRNO)

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