Terreno Realty (NYSE:TRNO) Price Target Cut to $64.00 by Analysts at KeyCorp

Terreno Realty (NYSE:TRNO) had its price target trimmed by KeyCorp from $70.00 to $64.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. Barclays dropped their target price on shares of Terreno Realty from $57.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 27th. Wall Street Zen upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, May 20th. The Goldman Sachs Group set a $64.00 target price on shares of Terreno Realty and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company set a $72.00 target price on shares of Terreno Realty in a research note on Sunday, July 13th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.00.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $55.25 on Thursday. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.37 and a beta of 1.02. Terreno Realty has a 12 month low of $48.18 and a 12 month high of $71.63. The firm’s 50-day moving average is $56.33 and its 200 day moving average is $59.35. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, September 29th. This is a boost from Terreno Realty’s previous quarterly dividend of $0.49. Terreno Realty’s dividend payout ratio is currently 82.54%.

Insider Buying and Selling at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the sale, the president owned 412,415 shares of the company’s stock, valued at approximately $22,253,913.40. This represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently modified their holdings of the business. Hudson Bay Capital Management LP lifted its position in shares of Terreno Realty by 359.3% in the 2nd quarter. Hudson Bay Capital Management LP now owns 390,919 shares of the real estate investment trust’s stock worth $21,919,000 after purchasing an additional 305,806 shares during the period. Public Sector Pension Investment Board lifted its position in Terreno Realty by 11.3% during the second quarter. Public Sector Pension Investment Board now owns 352,236 shares of the real estate investment trust’s stock valued at $19,750,000 after acquiring an additional 35,855 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Terreno Realty by 7.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 261,880 shares of the real estate investment trust’s stock valued at $14,691,000 after acquiring an additional 18,985 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Terreno Realty by 438.1% during the second quarter. Tower Research Capital LLC TRC now owns 11,757 shares of the real estate investment trust’s stock valued at $659,000 after acquiring an additional 9,572 shares during the last quarter. Finally, Howland Capital Management LLC lifted its position in Terreno Realty by 4.0% during the second quarter. Howland Capital Management LLC now owns 129,126 shares of the real estate investment trust’s stock valued at $7,293,000 after acquiring an additional 4,941 shares during the last quarter.

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.