Terreno Realty (NYSE:TRNO) Hits New 1-Year High at $66.34

Terreno Realty Co. (NYSE:TRNO)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $66.34 and last traded at $65.89, with a volume of 79449 shares changing hands. The stock had previously closed at $65.33.

Analyst Upgrades and Downgrades

Several research firms have commented on TRNO. Mizuho decreased their price objective on shares of Terreno Realty from $67.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, December 5th. Scotiabank boosted their price target on Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a research note on Monday, February 12th. Piper Sandler upped their price objective on Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Wells Fargo & Company initiated coverage on shares of Terreno Realty in a research report on Thursday, December 7th. They issued an “overweight” rating and a $71.00 target price for the company. Finally, StockNews.com raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.00.

Terreno Realty Trading Up 1.2 %

The business’s 50 day moving average price is $62.72 and its two-hundred day moving average price is $59.73. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 2.97 and a beta of 0.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.28.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. The company had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.06 million. On average, equities analysts predict that Terreno Realty Co. will post 2.39 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, March 27th. Terreno Realty’s payout ratio is 99.45%.

Hedge Funds Weigh In On Terreno Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. Point72 Hong Kong Ltd bought a new position in Terreno Realty during the 1st quarter worth $28,000. Ronald Blue Trust Inc. raised its stake in Terreno Realty by 93.9% during the third quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 260 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Terreno Realty by 337.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 408 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Terreno Realty in the 4th quarter valued at about $35,000. Finally, Pinebridge Investments L.P. acquired a new stake in Terreno Realty during the second quarter worth approximately $49,000.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.