Terreno Realty Co. (NYSE:TRNO) Forecasted to Earn Q2 2023 Earnings of $0.54 Per Share

Terreno Realty Co. (NYSE:TRNO – Get Rating) – Equities research analysts at KeyCorp dropped their Q2 2023 EPS estimates for shares of Terreno Realty in a report issued on Monday, May 15th. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will post earnings of $0.54 per share for the quarter, down from their prior forecast of $0.55. The consensus estimate for Terreno Realty’s current full-year earnings is $2.18 per share. KeyCorp also issued estimates for Terreno Realty’s Q1 2024 earnings at $0.57 EPS, Q2 2024 earnings at $0.59 EPS and Q3 2024 earnings at $0.60 EPS.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities reiterated a “market outperform” rating and set a $71.00 price objective on shares of Terreno Realty in a research report on Monday, April 3rd. BTIG Research increased their price target on shares of Terreno Realty from $74.00 to $80.00 in a research report on Thursday, February 9th. Finally, StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Terreno Realty presently has an average rating of “Moderate Buy” and an average price target of $67.56.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $61.03 on Wednesday. Terreno Realty has a one year low of $50.36 and a one year high of $67.03. The company’s 50-day moving average is $62.09 and its 200 day moving average is $60.80. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 3.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.21 and a current ratio of 0.21.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. PGGM Investments acquired a new stake in Terreno Realty in the third quarter valued at $96,080,000. Norges Bank acquired a new stake in Terreno Realty in the fourth quarter valued at $49,505,000. abrdn plc grew its holdings in Terreno Realty by 4,951.6% in the first quarter. abrdn plc now owns 669,939 shares of the real estate investment trust’s stock valued at $43,278,000 after purchasing an additional 656,677 shares during the last quarter. American Century Companies Inc. grew its holdings in Terreno Realty by 4,172.8% in the first quarter. American Century Companies Inc. now owns 602,121 shares of the real estate investment trust’s stock valued at $38,863,000 after purchasing an additional 588,029 shares during the last quarter. Finally, State Street Corp grew its holdings in Terreno Realty by 18.7% in the first quarter. State Street Corp now owns 3,642,466 shares of the real estate investment trust’s stock valued at $270,935,000 after purchasing an additional 574,544 shares during the last quarter. Institutional investors and hedge funds own 98.53% of the company’s stock.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, June 29th. Terreno Realty’s dividend payout ratio is presently 60.61%.

About Terreno Realty

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Terreno Realty Corp. is a real estate company, which acquires, owns, and manages industrial properties. It invests in several types of industrial real estate, including warehouse/distribution, flex, research and development, and trans-shipment. The company was founded by Michael A. Coke and W. Blake Baird on November 6, 2009 and is headquartered in Bellevue, WA.