Citigroup Issues Positive Forecast for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO) had its target price raised by Citigroup from $64.00 to $70.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Other analysts have also issued reports about the company. UBS Group set a $72.00 price target on Terreno Realty in a report on Monday. Weiss Ratings raised shares of Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 22nd. Barclays reaffirmed a “positive” rating and set a $60.00 price objective on shares of Terreno Realty in a research note on Tuesday, January 13th. Cantor Fitzgerald boosted their target price on Terreno Realty from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, iA Financial set a $75.00 price target on shares of Terreno Realty in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.40.

Terreno Realty Price Performance

Shares of TRNO opened at $65.51 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The business’s fifty day moving average is $61.28 and its 200 day moving average is $59.33. Terreno Realty has a 12-month low of $48.18 and a 12-month high of $69.20. The stock has a market cap of $6.82 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.64 and a beta of 1.13.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $1.53 EPS for the quarter, topping the consensus estimate of $0.85 by $0.68. Terreno Realty had a return on equity of 10.08% and a net margin of 84.51%.The firm had revenue of $137.48 million during the quarter, compared to the consensus estimate of $124.72 million. Sell-side analysts anticipate that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. Terreno Realty’s dividend payout ratio (DPR) is presently 53.33%.

Institutional Trading of Terreno Realty

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Terreno Realty by 4.0% during the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after purchasing an additional 230,444 shares during the last quarter. Norges Bank bought a new stake in Terreno Realty in the 4th quarter worth approximately $168,221,000. Geode Capital Management LLC grew its position in Terreno Realty by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock worth $159,620,000 after purchasing an additional 17,921 shares during the period. Invesco Ltd. raised its stake in Terreno Realty by 7.8% during the 2nd quarter. Invesco Ltd. now owns 2,080,116 shares of the real estate investment trust’s stock valued at $116,632,000 after buying an additional 150,020 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Terreno Realty by 4.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,967,489 shares of the real estate investment trust’s stock valued at $110,317,000 after buying an additional 83,403 shares during the period.

About Terreno Realty

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.