Brokerages Set Terreno Realty Corporation (NYSE:TRNO) Target Price at $69.21

Shares of Terreno Realty Corporation (NYSE:TRNO) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $69.2143.

Several research analysts recently weighed in on TRNO shares. UBS Group set a $68.00 target price on Terreno Realty in a research note on Thursday, June 18th. Wells Fargo & Company decreased their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Scotiabank lowered their price target on Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a report on Thursday, June 18th. KeyCorp restated an “overweight” rating on shares of Terreno Realty in a research note on Tuesday, June 23rd. Finally, Robert W. Baird set a $69.00 price objective on shares of Terreno Realty in a report on Friday, May 8th.

Terreno Realty Trading Up 1.2%

NYSE TRNO opened at $69.34 on Wednesday. Terreno Realty has a 52 week low of $53.00 and a 52 week high of $69.47. The company has a 50 day moving average price of $65.92 and a 200 day moving average price of $64.02. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $7.37 billion, a PE ratio of 16.95 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.36. The business had revenue of $124.44 million for the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. As a group, sell-side analysts forecast that Terreno Realty will post 2.8 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, June 26th. Terreno Realty’s payout ratio is currently 50.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TRNO. EverSource Wealth Advisors LLC grew its holdings in shares of Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 189 shares during the last quarter. Wiser Advisor Group LLC purchased a new position in Terreno Realty in the 3rd quarter worth $25,000. Caitong International Asset Management Co. Ltd raised its stake in Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 172 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 350 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in Terreno Realty during the 4th quarter valued at about $30,000.

About Terreno Realty

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.