Terreno Realty Co. (NYSE:TRNO) Given Average Recommendation of “Hold” by Analysts

Terreno Realty Co. (NYSE:TRNO) has been given a consensus rating of “Hold” by the nine analysts that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $69.56.

Several brokerages recently issued reports on TRNO. Wells Fargo & Company lowered Terreno Realty from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $71.00 to $75.00 in a research report on Wednesday. Wedbush reiterated a “neutral” rating and issued a $70.00 price target (up previously from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. The Goldman Sachs Group raised their price objective on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. BNP Paribas started coverage on Terreno Realty in a report on Tuesday, June 4th. They set an “outperform” rating and a $68.00 target price for the company. Finally, Scotiabank lifted their price target on Terreno Realty from $59.00 to $70.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th.

Insider Activity at Terreno Realty

In other news, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.64, for a total value of $421,792.80. Following the transaction, the executive vice president now owns 110,988 shares of the company’s stock, valued at $7,618,216.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Terreno Realty news, President Michael A. Coke sold 7,500 shares of Terreno Realty stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.53, for a total value of $513,975.00. Following the completion of the sale, the president now owns 402,164 shares in the company, valued at approximately $27,560,298.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the sale, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,643 shares of company stock worth $1,277,581. Insiders own 2.40% of the company’s stock.

Institutional Trading of Terreno Realty

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Terreno Realty by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock worth $861,988,000 after acquiring an additional 919,851 shares during the period. Principal Financial Group Inc. lifted its stake in Terreno Realty by 16.4% during the first quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock worth $342,322,000 after purchasing an additional 727,995 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Terreno Realty by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust’s stock valued at $276,381,000 after purchasing an additional 291,051 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Terreno Realty by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock valued at $127,287,000 after purchasing an additional 146,808 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Terreno Realty by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,383,262 shares of the real estate investment trust’s stock worth $81,862,000 after buying an additional 103,833 shares in the last quarter.

Terreno Realty Price Performance

Terreno Realty stock opened at $69.04 on Friday. The firm has a market capitalization of $6.68 billion, a P/E ratio of 35.96, a PEG ratio of 3.23 and a beta of 0.89. The business has a 50-day moving average of $65.73 and a 200-day moving average of $61.78. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. Terreno Realty has a 1 year low of $50.42 and a 1 year high of $71.63.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.49 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a dividend yield of 2.84%. Terreno Realty’s dividend payout ratio is presently 102.08%.

Terreno Realty Company Profile

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 All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.