Terreno Realty (NYSE:TRNO) Announces Earnings Results, Beats Estimates By $0.68 EPS

Terreno Realty (NYSE:TRNO) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.68, FiscalAI reports. The business had revenue of $137.48 million during the quarter, compared to analysts’ expectations of $124.72 million. Terreno Realty had a return on equity of 8.27% and a net margin of 72.41%.

Terreno Realty Trading Up 0.5%

Shares of TRNO traded up $0.34 during trading hours on Friday, hitting $65.42. 114,842 shares of the stock were exchanged, compared to its average volume of 787,941. Terreno Realty has a fifty-two week low of $48.18 and a fifty-two week high of $69.20. The business has a 50-day moving average of $61.08 and a 200-day moving average of $59.12. The firm has a market capitalization of $6.76 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 2.59 and a beta of 1.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

Terreno Realty Announces Dividend

The company 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. The ex-dividend date is Friday, March 27th. This represents a $2.08 annualized dividend and a yield of 3.2%. Terreno Realty’s dividend payout ratio (DPR) is presently 66.03%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Scotiabank raised their target price on shares of Terreno Realty from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Barclays reaffirmed a “positive” rating and issued a $60.00 price objective on shares of Terreno Realty in a report on Tuesday, January 13th. Weiss Ratings raised Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 22nd. Mizuho raised their price target on Terreno Realty from $53.00 to $56.00 and gave the stock an “underperform” rating in a research report on Thursday, December 4th. Finally, Wells Fargo & Company boosted their price target on Terreno Realty from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terreno Realty has a consensus rating of “Moderate Buy” and a consensus target price of $66.64.

Institutional Investors Weigh In On Terreno Realty

A number of hedge funds have recently added to or reduced their stakes in the business. UBS Group AG grew its stake in shares of Terreno Realty by 108.1% in the 3rd quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock valued at $34,044,000 after buying an additional 311,559 shares during the period. Adelante Capital Management LLC bought a new position in Terreno Realty in the third quarter worth approximately $16,070,000. State Street Corp boosted its holdings in Terreno Realty by 4.0% in 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. Bank of America Corp DE grew its stake in Terreno Realty by 31.3% in the second quarter. Bank of America Corp DE now owns 812,348 shares of the real estate investment trust’s stock valued at $45,548,000 after acquiring an additional 193,555 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Terreno Realty by 508.6% during the third quarter. Qube Research & Technologies Ltd now owns 189,183 shares of the real estate investment trust’s stock valued at $10,736,000 after acquiring an additional 158,097 shares in the last quarter.

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.