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

Shares of Terreno Realty Corporation (NYSE:TRNO) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $69.2143.

Several research firms have commented on TRNO. Raymond James Financial initiated coverage on Terreno Realty in a report on Wednesday, June 17th. They issued an “underperform” rating for the company. UBS Group set a $68.00 target price on shares of Terreno Realty in a research report on Thursday, June 18th. Weiss Ratings upgraded shares of Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Scotiabank cut their price target 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.

Terreno Realty Trading Up 0.6%

Shares of Terreno Realty stock opened at $68.81 on Wednesday. Terreno Realty has a fifty-two week low of $53.00 and a fifty-two week high of $69.47. The firm has a market cap of $7.31 billion, a PE ratio of 16.82 and a beta of 1.05. The business’s fifty day moving average is $65.75 and its two-hundred day moving average is $63.88. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23.

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

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, June 26th. Terreno Realty’s dividend payout ratio (DPR) is 50.86%.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors have recently added to or reduced their stakes in TRNO. EverSource Wealth Advisors LLC increased its stake in 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 worth $25,000 after acquiring an additional 189 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Terreno Realty in the 3rd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Terreno Realty by 52.8% during 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 purchasing an additional 172 shares during the period. Geneos Wealth Management Inc. increased 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 purchasing an additional 350 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Terreno Realty during the 4th quarter worth approximately $30,000.

Terreno Realty Company Profile

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.