Terreno Realty Corporation (NYSE:TRNO) Receives $65.85 Average Target Price from Analysts

Shares of Terreno Realty Corporation (NYSE:TRNO) have received a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $66.00.

TRNO has been the topic of several analyst reports. Baird R W raised shares of Terreno Realty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Barclays reaffirmed a “positive” rating and issued a $60.00 target price on shares of Terreno Realty in a report on Tuesday. Cantor Fitzgerald set a $67.00 price objective on Terreno Realty in a research note on Monday, January 5th. KeyCorp reaffirmed an “overweight” rating on shares of Terreno Realty in a research report on Wednesday. Finally, Citigroup raised their price target on Terreno Realty from $58.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, November 13th.

Insider Buying and Selling at Terreno Realty

In other Terreno Realty news, EVP John Tull Meyer sold 4,758 shares of Terreno Realty 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 completion of the sale, the executive vice president owned 119,949 shares in the company, valued at $7,190,942.55. The trade was a 3.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Terreno Realty

A number of large investors have recently added to or reduced their stakes in TRNO. Congress Asset Management Co. increased its position in shares of Terreno Realty by 4.8% during the 3rd quarter. Congress Asset Management Co. now owns 545,558 shares of the real estate investment trust’s stock valued at $30,960,000 after purchasing an additional 25,202 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Terreno Realty by 2.2% in the second 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 during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Terreno Realty by 88.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,268 shares of the real estate investment trust’s stock valued at $1,753,000 after acquiring an additional 14,664 shares during the last quarter. Castellan Group bought a new position in shares of Terreno Realty during the 3rd quarter valued at approximately $3,578,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Terreno Realty by 3.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,079 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 208 shares during the last quarter.

Terreno Realty Price Performance

NYSE:TRNO opened at $62.67 on Wednesday. Terreno Realty has a 52-week low of $48.18 and a 52-week high of $69.20. The company has a market cap of $6.48 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.47 and a beta of 1.13. 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’s 50-day simple moving average is $60.85 and its 200 day simple moving average is $58.62.

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

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 15th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, December 15th. Terreno Realty’s payout ratio is currently 66.03%.

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.