Terreno Realty Corporation (NYSE:TRNO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Terreno Realty Corporation (NYSE:TRNO) has received an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $69.6429.

Several research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Scotiabank upped their price objective on Terreno Realty from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Robert W. Baird set a $69.00 price target on Terreno Realty in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th.

Terreno Realty Stock Performance

TRNO stock opened at $67.21 on Friday. The business’s 50-day moving average price is $65.44 and its two-hundred day moving average price is $63.40. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $7.14 billion, a PE ratio of 16.43 and a beta of 1.05. Terreno Realty has a 1-year low of $53.00 and a 1-year high of $67.83.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.36. The firm had revenue of $124.44 million for the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. As a group, research analysts forecast that Terreno Realty will post 2.79 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. Terreno Realty’s payout ratio is 50.86%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in Terreno Realty by 57.0% in the first quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 159 shares during the period. Wiser Advisor Group LLC bought a new stake in Terreno Realty in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its stake in Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 350 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Terreno Realty by 52.8% in 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 buying an additional 172 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Terreno Realty in 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.