Terreno Realty (NYSE:TRNO) Given New $56.00 Price Target at Mizuho

Terreno Realty (NYSE:TRNO) had its target price upped by Mizuho from $53.00 to $56.00 in a research note published on Thursday,Benzinga reports. They currently have an underperform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the company. KeyCorp boosted their price target on Terreno Realty from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday. Cantor Fitzgerald assumed coverage on shares of Terreno Realty in a research report on Wednesday, October 1st. They set an “overweight” rating and a $70.00 target price on the stock. Piper Sandler upgraded shares of Terreno Realty from a “neutral” rating to an “overweight” rating and set a $75.00 price target on the stock in a research note on Monday, November 10th. Barclays lifted their price objective on shares of Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 15th. Finally, UBS Group set a $56.00 target price on Terreno Realty in a research report on Thursday. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.54.

Terreno Realty Price Performance

Shares of TRNO opened at $62.40 on Thursday. The company has a 50 day moving average of $59.91 and a two-hundred day moving average of $57.99. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. Terreno Realty has a twelve month low of $48.18 and a twelve month high of $69.20. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.56 and a beta of 1.12.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 EPS for the quarter, beating the consensus estimate of $0.66 by $0.34. Terreno Realty had a return on equity of 8.27% and a net margin of 72.41%.The firm had revenue of $116.25 million during the quarter, compared to analyst estimates of $114.62 million. As a group, analysts predict that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Monday, December 15th will be paid a $0.52 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. Terreno Realty’s dividend payout ratio is presently 66.03%.

Insider Buying and Selling

In related news, EVP John Tull Meyer sold 4,758 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $59.95, for a total transaction of $285,242.10. Following the sale, the executive vice president directly owned 119,949 shares of the company’s stock, valued at approximately $7,190,942.55. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors have recently added to or reduced their stakes in TRNO. Sumitomo Mitsui Trust Group Inc. grew its holdings in Terreno Realty by 2.2% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 112,252 shares of the real estate investment trust’s stock worth $6,294,000 after acquiring an additional 2,463 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Terreno Realty by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,884,086 shares of the real estate investment trust’s stock worth $119,112,000 after purchasing an additional 45,583 shares during the last quarter. Amundi lifted its position in shares of Terreno Realty by 9.3% during the 1st quarter. Amundi now owns 56,495 shares of the real estate investment trust’s stock worth $3,272,000 after purchasing an additional 4,785 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Terreno Realty by 88.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,268 shares of the real estate investment trust’s stock worth $1,753,000 after purchasing an additional 14,664 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Terreno Realty by 14.1% in the first quarter. Intech Investment Management LLC now owns 46,811 shares of the real estate investment trust’s stock valued at $2,959,000 after buying an additional 5,796 shares during the last quarter.

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