Terreno Realty (NYSE:TRNO) Issues Earnings Results, Beats Expectations By $0.17 EPS

Terreno Realty (NYSE:TRNO) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17, FiscalAI reports. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. The firm had revenue of $132.23 million during the quarter, compared to the consensus estimate of $128.72 million.

Terreno Realty Stock Up 2.0%

Shares of TRNO stock traded up $1.35 during trading hours on Wednesday, hitting $68.01. 818,389 shares of the company were exchanged, compared to its average volume of 691,267. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 23.15 and a beta of 0.98. Terreno Realty has a one year low of $57.71 and a one year high of $78.94. The business’s 50-day simple moving average is $65.53 and its two-hundred day simple moving average is $65.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43.

Insider Activity

In other 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 completion of the transaction, the executive vice president 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction that occurred 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 completion of the transaction, the president owned 425,381 shares of the company’s stock, valued at approximately $29,087,552.78. The trade was a 1.85% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings lowered Terreno Realty from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. BMO Capital Markets upgraded Terreno Realty from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Monday, October 12th. KeyCorp upped their target price on Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Scotiabank increased their target price on Terreno Realty from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Finally, The Goldman Sachs Group raised their price target on shares of Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.50.

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.