Terreno Realty Corporation (NYSE:TRNO) Stock Has Consensus Target Price of $73.47 According to Brokerages

Terreno Realty Corporation (NYSE:TRNO) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $73.47.

Several equities analysts have weighed in on TRNO shares. Cantor Fitzgerald raised their target price on shares of Terreno Realty from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Piper Sandler reduced their price target on shares of Terreno Realty from $91.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Barclays upped their price target on shares of Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Citigroup reiterated a “market outperform” rating on shares of Terreno Realty in a research report on Wednesday, October 7th. Finally, Weiss Ratings lowered shares of Terreno Realty from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd.

Insider Buying and Selling

In other Terreno Realty news, EVP John Meyer sold 4,447 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction of $305,242.08. Following the sale, the executive vice president owned 131,825 shares in the company, valued at approximately $9,048,468. This represents a 3.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Coke sold 8,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the sale, the president owned 425,381 shares in the company, valued at approximately $29,087,552.78. This trade represents a 1.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Terreno Realty

A number of large investors have recently made changes to their positions in the stock. GK Wealth Management LLC acquired a new position in shares of Terreno Realty during the 3rd quarter valued at about $62,000. GAMMA Investing LLC lifted its holdings in shares of Terreno Realty by 26.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,230 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 673 shares during the period. Moody National Bank Trust Division boosted its position in shares of Terreno Realty by 31.0% in the third quarter. Moody National Bank Trust Division now owns 15,363 shares of the real estate investment trust’s stock worth $992,000 after acquiring an additional 3,636 shares during the last quarter. Cim Investment Management Inc. boosted its position in shares of Terreno Realty by 7.4% in the second quarter. Cim Investment Management Inc. now owns 3,565 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 246 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Terreno Realty in the second quarter worth approximately $243,000.

Terreno Realty Stock Performance

TRNO opened at $64.07 on Friday. Terreno Realty has a 1-year low of $56.09 and a 1-year high of $78.94. The stock has a market cap of $6.98 billion, a P/E ratio of 17.18 and a beta of 1.03. The stock’s 50 day simple moving average is $66.23 and its 200 day simple moving average is $66.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. As a group, equities analysts anticipate that Terreno Realty will post 2.84 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a dividend of $0.57 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.6%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s payout ratio is presently 61.13%.

Terreno Realty Company Profile

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. Its portfolio is focused primarily on functional, well-located properties that support logistics, distribution, warehousing, and other industrial uses.

The company serves metropolitan areas including Los Angeles, the San Francisco Bay Area, Seattle, New York City and Northern New Jersey, Miami, and Washington, DC Its properties generally include warehouse, distribution, flex, and other industrial facilities leased to businesses across a range of industries.

Terreno Realty was founded in 2009 and became a publicly traded company in 2010.