Terreno Realty (NYSE:TRNO) Announces Quarterly Earnings Results

Terreno Realty (NYSE:TRNO) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13, FiscalAI reports. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. The firm had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.17 million.

Terreno Realty Stock Performance

Terreno Realty stock traded down $0.80 during midday trading on Wednesday, hitting $69.56. The stock had a trading volume of 620,667 shares, compared to its average volume of 771,839. Terreno Realty has a 52-week low of $53.00 and a 52-week high of $78.94. The company has a market capitalization of $7.39 billion, a PE ratio of 17.01 and a beta of 1.03. The firm’s fifty day moving average is $68.19 and its two-hundred day moving average is $65.60. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23.

Institutional Trading of Terreno Realty

Institutional investors and hedge funds have recently modified their holdings of the company. Wiser Advisor Group LLC bought a new position in Terreno Realty in the 3rd quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Terreno Realty by 73.3% in the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 189 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Terreno Realty by 52.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 172 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 350 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Terreno Realty during the fourth quarter worth about $30,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TRNO. Scotiabank cut their target price on shares of Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 18th. KeyCorp restated an “overweight” rating on shares of Terreno Realty in a research note on Tuesday, June 23rd. Raymond James Financial started coverage on Terreno Realty in a report on Wednesday, June 17th. They issued an “underperform” rating for the company. Wells Fargo & Company reduced their price objective on 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, Weiss Ratings reissued a “buy (b)” rating on shares of Terreno Realty in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Terreno Realty currently has a consensus rating of “Moderate Buy” and an average target price of $71.71.

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.