Terreno Realty (NYSE:TRNO) Sets New 1-Year High – Here’s What Happened

Terreno Realty Corporation (NYSE:TRNO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $67.63 and last traded at $67.5980, with a volume of 61594 shares changing hands. The stock had previously closed at $66.93.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Robert W. Baird set a $69.00 target price on shares of Terreno Realty in a research report on Friday, May 8th. Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Citigroup boosted their price objective on Terreno Realty from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Scotiabank increased their target price on Terreno Realty from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company dropped their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.64.

Terreno Realty Trading Up 0.3%

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $7.14 billion, a P/E ratio of 16.41 and a beta of 1.05. The business’s fifty day simple moving average is $65.11 and its two-hundred day simple moving average is $63.29.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.36. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. The business had revenue of $124.44 million during the quarter, compared to analyst estimates of $122.60 million. As a group, analysts forecast that Terreno Realty Corporation will post 2.79 earnings per share for the current year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.08 annualized dividend and a yield of 3.1%. Terreno Realty’s dividend payout ratio is 50.86%.

Institutional Trading of Terreno Realty

Several institutional investors have recently modified their holdings of the company. DigitalBridge Group Inc. lifted its position in Terreno Realty by 29.0% in the third quarter. DigitalBridge Group Inc. now owns 346,700 shares of the real estate investment trust’s stock worth $18,649,000 after purchasing an additional 78,000 shares during the period. Delphi Management Inc. MA bought a new stake in Terreno Realty in the 4th quarter valued at $1,238,000. Sage Rhino Capital LLC increased its holdings in Terreno Realty by 36.6% in the 4th quarter. Sage Rhino Capital LLC now owns 40,190 shares of the real estate investment trust’s stock valued at $2,360,000 after buying an additional 10,777 shares during the period. Principal Financial Group Inc. raised its stake in shares of Terreno Realty by 7.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust’s stock valued at $70,950,000 after buying an additional 81,444 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Terreno Realty by 14.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,252,479 shares of the real estate investment trust’s stock worth $71,078,000 after acquiring an additional 159,104 shares during the period.

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.