Terreno Realty Corporation (NYSE:TRNO) Receives $73.29 Average Price Target from Analysts

Shares of Terreno Realty Corporation (NYSE:TRNO) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $73.7143.

A number of research firms have commented on TRNO. Piper Sandler increased their price target on Terreno Realty from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Mizuho boosted their price target on Terreno Realty from $56.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 19th. KeyCorp upped their price objective on shares of Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Barclays increased their price objective on shares of Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Finally, Cantor Fitzgerald lifted their target price on shares of Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th.

Terreno Realty Price Performance

NYSE TRNO opened at $65.96 on Monday. The firm’s fifty day simple moving average is $68.66 and its two-hundred day simple moving average is $66.34. The firm has a market capitalization of $7.19 billion, a P/E ratio of 17.68 and a beta of 1.02. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. Terreno Realty has a 12-month low of $55.92 and a 12-month high of $78.94.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The firm had revenue of $124.71 million during the quarter, compared to analyst estimates of $127.15 million. Analysts forecast that Terreno Realty will post 2.83 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $0.57 dividend. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty’s dividend payout ratio is 55.76%.

Insider Buying and Selling at Terreno Realty

In related news, President Michael A. Coke sold 8,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the transaction, the president directly owned 425,381 shares of the company’s stock, valued at $29,087,552.78. This represents a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Meyer sold 4,447 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the transaction, the executive vice president owned 131,825 shares of the company’s stock, valued at $9,048,468. This trade represents a 3.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company’s stock.

Institutional Trading of Terreno Realty

Several large investors have recently added to or reduced their stakes in TRNO. BlackRock Inc. acquired a new stake in Terreno Realty during the 2nd quarter valued at approximately $1,213,726,000. Principal Financial Group Inc. raised its holdings in shares of Terreno Realty by 246.6% during the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after purchasing an additional 2,979,982 shares during the last quarter. Norges Bank acquired a new position in Terreno Realty during the fourth quarter valued at $168,221,000. Geode Capital Management LLC lifted its position in 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. Finally, Resolution Capital Ltd boosted its holdings in Terreno Realty by 6.7% in the first quarter. Resolution Capital Ltd now owns 1,623,857 shares of the real estate investment trust’s stock valued at $99,737,000 after purchasing an additional 101,709 shares during the last quarter.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. The company focuses primarily on functional, well-located properties that support distribution, transportation, and other industrial activities.

Terreno’s portfolio includes warehouses, distribution facilities, transshipment buildings, and industrial properties that may offer outdoor storage or other specialized features. Its strategy emphasizes infill locations with access to population centers, transportation infrastructure, ports, airports, and other important logistics networks.

The company serves six key coastal markets: Los Angeles, Northern New Jersey and New York City, the San Francisco Bay Area, Seattle, Miami, and Washington, DC Terreno Realty was founded in 2009 and became a publicly traded company in 2010.