Terreno Realty (NYSE:TRNO) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Terreno Realty Corporation (NYSE:TRNO)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $58.74 and traded as high as $62.85. Terreno Realty shares last traded at $62.4550, with a volume of 1,010,974 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup boosted their price target on shares of Terreno Realty from $58.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Barclays reissued a “positive” rating and set a $60.00 target price on shares of Terreno Realty in a research report on Tuesday, January 13th. Scotiabank raised their price target on shares of Terreno Realty from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. The Goldman Sachs Group boosted their price objective on Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Cantor Fitzgerald set a $67.00 target price on Terreno Realty in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.00.

Terreno Realty Stock Performance

The company’s 50 day simple moving average is $60.90 and its 200 day simple moving average is $58.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market cap of $6.46 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.49 and a beta of 1.13.

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

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 15th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. Terreno Realty’s dividend payout ratio (DPR) is currently 66.03%.

Insider Activity at Terreno Realty

In related news, EVP John Tull Meyer sold 4,758 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $59.95, for a total value of $285,242.10. Following the transaction, the executive vice president directly owned 119,949 shares of the company’s stock, valued at approximately $7,190,942.55. The trade was a 3.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

Institutional Trading of Terreno Realty

Several hedge funds have recently added to or reduced their stakes in TRNO. Mather Group LLC. bought a new position in shares of Terreno Realty during the 3rd quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 189 shares during the period. Wiser Advisor Group LLC purchased a new stake in Terreno Realty in the third quarter worth $25,000. First Horizon Corp bought a new stake in shares of Terreno Realty in the third quarter valued at $26,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Terreno Realty by 52.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 172 shares during the period.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.