Terreno Realty Corporation (TRNO) Expected to Post Quarterly Sales of $33.91 Million
Wall Street brokerages expect Terreno Realty Corporation (NYSE:TRNO) to report sales of $33.91 million for the current quarter, according to Zacks. Five analysts have issued estimates for Terreno Realty Corporation’s earnings, with the highest sales estimate coming in at $35.87 million and the lowest estimate coming in at $33.18 million. Terreno Realty Corporation reported sales of $27.10 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.1%. The business is scheduled to report its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Terreno Realty Corporation will report full year sales of $33.91 million for the current financial year, with estimates ranging from $131.00 million to $137.62 million. For the next fiscal year, analysts forecast that the company will post sales of $150.49 million per share, with estimates ranging from $137.37 million to $166.80 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Terreno Realty Corporation.
Terreno Realty Corporation (NYSE:TRNO) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $32.78 million during the quarter, compared to analysts’ expectations of $31.72 million. Terreno Realty Corporation had a net margin of 20.91% and a return on equity of 3.13%.
TRNO has been the subject of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $34.50 price objective on shares of Terreno Realty Corporation in a research note on Friday, July 14th. KeyCorp restated a “buy” rating on shares of Terreno Realty Corporation in a report on Wednesday, September 6th. National Securities raised their target price on shares of Terreno Realty Corporation from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 21st. Jefferies Group LLC restated a “hold” rating and set a $35.00 target price (up from $29.00) on shares of Terreno Realty Corporation in a report on Friday, June 23rd. Finally, BidaskClub downgraded shares of Terreno Realty Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Terreno Realty Corporation currently has a consensus rating of “Buy” and an average price target of $35.29.
A number of large investors have recently bought and sold shares of the business. FMR LLC increased its holdings in Terreno Realty Corporation by 16.8% during the 1st quarter. FMR LLC now owns 7,184,259 shares of the real estate investment trust’s stock valued at $201,159,000 after acquiring an additional 1,035,842 shares in the last quarter. Vanguard Group Inc. increased its holdings in Terreno Realty Corporation by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,681,296 shares of the real estate investment trust’s stock valued at $191,233,000 after acquiring an additional 180,987 shares in the last quarter. BlackRock Inc. increased its holdings in Terreno Realty Corporation by 32.9% during the 2nd quarter. BlackRock Inc. now owns 5,536,531 shares of the real estate investment trust’s stock valued at $186,359,000 after acquiring an additional 1,370,672 shares in the last quarter. State Street Corp increased its holdings in Terreno Realty Corporation by 9.4% during the 2nd quarter. State Street Corp now owns 1,103,584 shares of the real estate investment trust’s stock valued at $37,145,000 after acquiring an additional 94,751 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in Terreno Realty Corporation by 1.3% during the 2nd quarter. Teachers Advisors LLC now owns 1,020,095 shares of the real estate investment trust’s stock valued at $34,336,000 after acquiring an additional 12,648 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.
Shares of Terreno Realty Corporation (NYSE TRNO) opened at 36.83 on Thursday. The stock has a market cap of $1.91 billion, a PE ratio of 77.70 and a beta of 0.81. Terreno Realty Corporation has a 1-year low of $24.81 and a 1-year high of $37.40. The stock’s 50 day moving average is $36.41 and its 200-day moving average is $33.36.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.22 per share. This is an increase from Terreno Realty Corporation’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, October 5th. Terreno Realty Corporation’s dividend payout ratio (DPR) is 191.30%.
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About Terreno Realty Corporation
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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