Barclays Cuts Terreno Realty (NYSE:TRNO) Price Target to $57.00

Terreno Realty (NYSE:TRNO) had its price objective reduced by Barclays from $60.00 to $57.00 in a research report sent to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

TRNO has been the subject of several other research reports. Scotiabank lifted their price objective on shares of Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $65.00 to $77.00 in a research report on Friday, February 21st. Finally, Piper Sandler cut their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Terreno Realty currently has a consensus rating of “Hold” and an average target price of $69.09.

Terreno Realty Stock Performance

Shares of Terreno Realty stock opened at $63.10 on Tuesday. The business has a 50-day moving average price of $66.08 and a two-hundred day moving average price of $63.70. Terreno Realty has a 1-year low of $53.78 and a 1-year high of $71.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The company has a market cap of $6.30 billion, a P/E ratio of 32.86, a PEG ratio of 2.82 and a beta of 0.93.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, analysts anticipate that Terreno Realty will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 3.11%. Terreno Realty’s dividend payout ratio (DPR) is currently 102.08%.

Hedge Funds Weigh In On Terreno Realty

Several large investors have recently bought and sold shares of TRNO. Manchester Capital Management LLC purchased a new stake in shares of Terreno Realty in the fourth quarter valued at about $27,000. Steward Partners Investment Advisory LLC grew its position in Terreno Realty by 176.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 361 shares in the last quarter. Quarry LP increased its stake in Terreno Realty by 613.7% in the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 626 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Terreno Realty by 94.6% during the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 370 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Terreno Realty in the 4th quarter worth approximately $71,000.

Terreno Realty Company Profile

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.