Barclays Cuts Terreno Realty (NYSE:TRNO) Price Target to $56.00

Terreno Realty (NYSE:TRNO) had its target price reduced by Barclays from $57.00 to $56.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. Piper Sandler decreased their target price on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Wall Street Zen upgraded Terreno Realty from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th. Wells Fargo & Company decreased their price target on Terreno Realty from $67.00 to $63.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. BMO Capital Markets lifted their price target on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Finally, Scotiabank decreased their price target on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Terreno Realty has a consensus rating of “Hold” and a consensus target price of $65.27.

Terreno Realty Trading Up 0.5%

NYSE:TRNO opened at $56.88 on Tuesday. The firm has a market cap of $5.88 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.82 and a beta of 1.07. The stock has a fifty day moving average price of $57.34 and a 200 day moving average price of $61.15. Terreno Realty has a 12-month low of $48.18 and a 12-month high of $71.63. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 dividend yield of 3.45%. The ex-dividend date is Friday, June 27th. Terreno Realty’s dividend payout ratio (DPR) is currently 98.49%.

Institutional Trading of Terreno Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Terreno Realty during the first quarter worth about $7,131,000. Geneos Wealth Management Inc. increased its position in shares of Terreno Realty by 304.3% during the first 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. Intech Investment Management LLC increased its position in shares of Terreno Realty by 14.1% during the first quarter. Intech Investment Management LLC now owns 46,811 shares of the real estate investment trust’s stock worth $2,959,000 after purchasing an additional 5,796 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Terreno Realty by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,135 shares of the real estate investment trust’s stock worth $42,366,000 after purchasing an additional 24,572 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Terreno Realty during the first quarter worth about $407,000.

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.