Terreno Realty (NYSE:TRNO) Price Target Raised to $70.00

Terreno Realty (NYSE:TRNO) had its price objective increased by Citigroup from $64.00 to $70.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

TRNO has been the subject of several other reports. Robert W. Baird set a $64.00 price objective on Terreno Realty and gave the company an “outperform” rating in a report on Thursday, January 8th. KeyCorp boosted their price target on Terreno Realty from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings upgraded Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 22nd. Cantor Fitzgerald lifted their price objective on shares of Terreno Realty from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Royal Bank Of Canada set a $72.00 target price on shares of Terreno Realty in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

Terreno Realty Trading Down 1.5%

NYSE TRNO opened at $64.48 on Tuesday. Terreno Realty has a 12 month low of $48.18 and a 12 month high of $69.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.62 and a beta of 1.13. The company’s fifty day moving average price is $61.38 and its two-hundred day moving average price is $59.41.

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

Terreno Realty Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Terreno Realty by 52.8% during 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 last quarter. EverSource Wealth Advisors LLC increased its position in Terreno Realty by 73.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 189 shares during the period. First Horizon Corp raised its stake in Terreno Realty by 41.5% during the 4th quarter. First Horizon Corp now owns 651 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 191 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Terreno Realty by 15.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 193 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Terreno Realty by 2.8% during the 3rd quarter. Mackenzie Financial Corp now owns 7,072 shares of the real estate investment trust’s stock worth $401,000 after acquiring an additional 193 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.