Shares of Terreno Realty Co. (NYSE:TRNO – Get Free Report) have been given a consensus rating of “Hold” by the four ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $67.80.
A number of equities research analysts have commented on the stock. Citigroup assumed coverage on shares of Terreno Realty in a report on Wednesday, July 19th. They issued a “neutral” rating and a $63.00 price target for the company. StockNews.com lowered Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday. The Goldman Sachs Group began coverage on Terreno Realty in a report on Tuesday, July 11th. They issued a “neutral” rating and a $65.00 price target on the stock. JMP Securities restated a “market outperform” rating and set a $71.00 price objective on shares of Terreno Realty in a report on Thursday, October 12th. Finally, Wedbush began coverage on Terreno Realty in a report on Tuesday, October 3rd. They issued a “neutral” rating and a $60.00 target price on the stock.
Terreno Realty Stock Performance
Terreno Realty Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.80 annualized dividend and a dividend yield of 3.22%. Terreno Realty’s payout ratio is 94.24%.
Institutional Trading of Terreno Realty
Several institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in Terreno Realty in the 1st quarter worth about $25,000. Point72 Hong Kong Ltd bought a new position in shares of Terreno Realty in the first quarter valued at approximately $28,000. Ronald Blue Trust Inc. increased its position in shares of Terreno Realty by 93.9% during the third quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 260 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in Terreno Realty during the second quarter worth $49,000. Finally, Lazard Asset Management LLC purchased a new position in Terreno Realty in the fourth quarter worth $89,000.
About Terreno Realty
Terreno Realty Corporation (Terreno, 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 We invest in several types of industrial real estate, including warehouse/distribution (approximately 79.5% of our total annualized base rent as of December 31, 2021), flex (including light industrial and research and development, or R&D) (approximately 4.8%), transshipment (approximately 6.4%) and improved land (approximately 9.3%).
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