Terreno Realty (NYSE:TRNO) Price Target Lowered to $60.00 at Wells Fargo & Company

Terreno Realty (NYSE:TRNO) had its price objective lowered by Wells Fargo & Company from $63.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently weighed in on TRNO. KeyCorp dropped their price objective on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating for the company in a report on Thursday, August 21st. Barclays cut 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 report on Tuesday, May 20th. Finally, The Goldman Sachs Group set a $64.00 price objective on shares of Terreno Realty and gave the stock a “buy” rating in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Terreno Realty presently has an average rating of “Hold” and an average price target of $62.80.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $57.87 on Wednesday. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 2.43 and a beta of 1.02. The company has a 50-day moving average price of $56.28 and a 200-day moving average price of $59.10. 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 has a 12 month low of $48.18 and a 12 month high of $70.10.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, September 29th. This represents a $2.08 annualized dividend and a yield of 3.6%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.49. Terreno Realty’s dividend payout ratio (DPR) is currently 77.78%.

Insider Activity

In other news, President Michael A. Coke sold 10,000 shares of Terreno Realty 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 directly owned 412,415 shares in the company, valued at $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in Terreno Realty by 73.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 189 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 350 shares during the last quarter. Quarry LP grew its holdings in shares of Terreno Realty by 613.7% in the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 626 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Terreno Realty by 90.2% during the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 378 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Terreno Realty by 143.6% during the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 655 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.