Terreno Realty (NYSE:TRNO) Hits New 52-Week High – Time to Buy?

Terreno Realty Corporation (NYSE:TRNO)’s share price hit a new 52-week high on Monday . The stock traded as high as $69.80 and last traded at $69.9290, with a volume of 20170 shares changing hands. The stock had previously closed at $69.40.

Analyst Ratings Changes

TRNO has been the subject of several recent analyst reports. Raymond James Financial initiated coverage on Terreno Realty in a research note on Wednesday, June 17th. They issued an “underperform” rating for the company. UBS Group set a $68.00 price objective on shares of Terreno Realty in a research note on Thursday, June 18th. Weiss Ratings raised shares of Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. KeyCorp reiterated an “overweight” rating on shares of Terreno Realty in a research report on Tuesday, June 23rd. Finally, Scotiabank lowered their target price on shares of Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.21.

Terreno Realty Trading Up 1.0%

The business has a 50 day simple moving average of $66.14 and a 200-day simple moving average of $64.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $7.55 billion, a P/E ratio of 17.36 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.36. The company had revenue of $124.44 million for the quarter, compared to analysts’ expectations of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. On average, analysts predict that Terreno Realty Corporation will post 2.8 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, June 26th. Terreno Realty’s payout ratio is presently 50.86%.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Terreno Realty by 57.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 159 shares during the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Terreno Realty in the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 350 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Terreno Realty by 52.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 172 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Terreno Realty during the fourth quarter valued at approximately $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.