Terreno Realty (NYSE:TRNO) Stock Crosses Above 50-Day Moving Average – Should You Sell?

Terreno Realty Corporation (NYSE:TRNO) shares passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $65.67 and traded as high as $65.75. Terreno Realty shares last traded at $65.6890, with a volume of 854,611 shares trading hands.

Analyst Ratings Changes

Several research firms have issued reports on TRNO. Citigroup restated a “market outperform” rating on shares of Terreno Realty in a research note on Wednesday, October 7th. Royal Bank Of Canada set a $73.00 target price on Terreno Realty in a research report on Wednesday, October 7th. Wells Fargo & Company boosted their target price on Terreno Realty from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, September 1st. BMO Capital Markets raised Terreno Realty from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Monday, October 12th. Finally, UBS Group set a $74.00 target price on Terreno Realty in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.47.

Terreno Realty Stock Performance

The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 17.56 and a beta of 1.03. The stock’s 50 day moving average is $65.61 and its two-hundred day moving average is $65.75. 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 (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The company had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.15 million. Analysts anticipate that Terreno Realty Corporation will post 2.84 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.28 annualized dividend and a yield of 3.5%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s dividend payout ratio (DPR) is currently 61.13%.

Insider Activity at Terreno Realty

In other Terreno Realty news, EVP John Meyer sold 4,447 shares of Terreno Realty stock in a transaction that occurred 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 transaction, the executive vice president directly owned 131,825 shares in the company, valued at approximately $9,048,468. This trade represents a 3.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction that occurred 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 completion of the transaction, the president owned 425,381 shares in the company, valued at $29,087,552.78. This trade represents a 1.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently modified their holdings of TRNO. Covestor Ltd lifted its position in shares of Terreno Realty by 7.5% during the 3rd quarter. Covestor Ltd now owns 2,425 shares of the real estate investment trust’s stock valued at $157,000 after acquiring an additional 169 shares during the period. Provenance Wealth Advisors LLC purchased a new stake in Terreno Realty during the third quarter worth $43,000. Oregon Public Employees Retirement Fund boosted its position in Terreno Realty by 1.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 24,426 shares of the real estate investment trust’s stock worth $1,577,000 after purchasing an additional 300 shares in the last quarter. ProShare Advisors LLC boosted its position in Terreno Realty by 29.5% during the third quarter. ProShare Advisors LLC now owns 149,308 shares of the real estate investment trust’s stock worth $9,638,000 after purchasing an additional 34,054 shares in the last quarter. Finally, Vise Technologies Inc. grew its holdings in Terreno Realty by 25.4% in the third quarter. Vise Technologies Inc. now owns 10,278 shares of the real estate investment trust’s stock valued at $663,000 after purchasing an additional 2,082 shares during the last quarter.

About Terreno Realty

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno’s portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.