Terreno Realty Corporation (NYSE:TRNO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Terreno Realty Corporation (NYSE:TRNO) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $69.3571.

A number of equities analysts recently weighed in on TRNO shares. Scotiabank lifted their target price on shares of Terreno Realty from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Cantor Fitzgerald increased their price target on Terreno Realty from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Citizens Jmp lifted their price objective on Terreno Realty from $66.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Friday, February 6th. UBS Group set a $72.00 price objective on Terreno Realty in a research note on Monday, February 9th. Finally, Royal Bank Of Canada set a $72.00 target price on Terreno Realty in a research note on Monday, February 9th.

Institutional Trading of Terreno Realty

Several hedge funds have recently modified their holdings of TRNO. State Street Corp boosted its stake in 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 worth $336,139,000 after acquiring an additional 230,444 shares in the last quarter. Norges Bank acquired a new position in shares of Terreno Realty during the fourth quarter valued at about $168,221,000. Geode Capital Management LLC raised its holdings in shares of Terreno Realty by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock valued at $159,620,000 after purchasing an additional 17,921 shares during the period. Invesco Ltd. boosted its position in shares of 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 worth $116,632,000 after purchasing an additional 150,020 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Terreno Realty by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,078,910 shares of the real estate investment trust’s stock worth $122,053,000 after purchasing an additional 72,909 shares in the last quarter.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $60.68 on Monday. The stock has a market capitalization of $6.45 billion, a PE ratio of 15.56 and a beta of 1.12. The business’s 50 day simple moving average is $63.52 and its 200 day simple moving average is $61.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. Terreno Realty has a one year low of $48.18 and a one year high of $66.74.

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

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, March 27th. Terreno Realty’s dividend payout ratio is presently 53.33%.

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.