Terreno Realty Corporation (NYSE:TRNO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Terreno Realty Corporation (NYSE:TRNO) have received an average recommendation of “Hold” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $65.5385.

A number of equities analysts recently issued reports on TRNO shares. KeyCorp raised their price objective on shares of Terreno Realty from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. The Goldman Sachs Group lifted their price target on shares of Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Wells Fargo & Company upped their price objective on Terreno Realty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Piper Sandler raised Terreno Realty from a “neutral” rating to an “overweight” rating and set a $75.00 target price on the stock in a report on Monday, November 10th. Finally, Mizuho boosted their price target on Terreno Realty from $53.00 to $56.00 and gave the company an “underperform” rating in a report on Thursday, December 4th.

Insider Transactions at Terreno Realty

In other Terreno Realty news, EVP John Tull Meyer sold 4,758 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $59.95, for a total transaction of $285,242.10. Following the sale, the executive vice president owned 119,949 shares in the company, valued at approximately $7,190,942.55. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Terreno Realty

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in shares of Terreno Realty by 4.0% during the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after buying an additional 230,444 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Terreno Realty by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock valued at $262,918,000 after acquiring an additional 523,950 shares in the last quarter. Norges Bank bought a new position in shares of Terreno Realty in the second quarter worth about $156,525,000. Geode Capital Management LLC grew its position in shares of Terreno Realty by 3.6% during the second quarter. Geode Capital Management LLC now owns 2,631,838 shares of the real estate investment trust’s stock worth $147,584,000 after purchasing an additional 92,519 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Terreno Realty by 7.8% during the second quarter. Invesco Ltd. now owns 2,080,116 shares of the real estate investment trust’s stock worth $116,632,000 after purchasing an additional 150,020 shares in the last quarter.

Terreno Realty Price Performance

Shares of TRNO opened at $60.27 on Friday. The firm has a fifty day simple moving average of $60.85 and a two-hundred day simple moving average of $58.43. The firm has a market cap of $6.23 billion, a PE ratio of 19.13, a P/E/G ratio of 2.40 and a beta of 1.12. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. Terreno Realty has a 1-year low of $48.18 and a 1-year high of $69.20.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 EPS for the quarter, topping the consensus estimate of $0.66 by $0.34. Terreno Realty had a return on equity of 8.27% and a net margin of 72.41%.The company had revenue of $116.25 million during the quarter, compared to analyst estimates of $114.62 million. On average, equities analysts anticipate that Terreno Realty will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Monday, December 15th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, December 15th. Terreno Realty’s payout ratio is presently 66.03%.

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.