Terreno Realty (NYSE:TRNO) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Terreno Realty (NYSE:TRNO) from a sell rating to a hold rating in a report released on Tuesday morning.

Other analysts have also recently issued reports about the stock. Scotiabank decreased their price objective on shares of Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 7th. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $77.00 in a report on Friday, February 21st. Piper Sandler cut their target price on shares of Terreno Realty from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company cut their target price on shares of Terreno Realty from $67.00 to $63.00 and set an “equal weight” rating for the company in a report on Monday. Finally, BMO Capital Markets lifted their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.36.

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $57.91 on Tuesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty has a 12 month low of $48.18 and a 12 month high of $71.63. The company has a 50 day simple moving average of $58.68 and a two-hundred day simple moving average of $61.40. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.82 and a beta of 1.07.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, June 27th. Terreno Realty’s dividend payout ratio is presently 98.49%.

Hedge Funds Weigh In On Terreno Realty

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Terreno Realty by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock worth $902,293,000 after acquiring an additional 1,484,301 shares during the period. FMR LLC raised its position in Terreno Realty by 5.9% during the fourth quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust’s stock worth $663,987,000 after acquiring an additional 628,116 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Terreno Realty by 2.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust’s stock worth $333,261,000 after acquiring an additional 125,940 shares during the period. Price T Rowe Associates Inc. MD raised its position in Terreno Realty by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock worth $262,918,000 after acquiring an additional 523,950 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Terreno Realty by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust’s stock worth $144,031,000 after buying an additional 19,900 shares in the last quarter.

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.