Terreno Realty Corporation (NYSE:TRNO) Stock Has Average Target Price of $73.29

Terreno Realty Corporation (NYSE:TRNO) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $73.71.

Several analysts have recently issued reports on TRNO shares. Piper Sandler increased their price objective on Terreno Realty from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Mizuho increased their price target on Terreno Realty from $56.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday, August 19th. UBS Group set a $74.00 price objective on Terreno Realty in a research note on Monday. Barclays boosted their price objective on Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, KeyCorp upped their target price on shares of Terreno Realty from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th.

Insiders Place Their Bets

In other news, President Michael A. Coke sold 8,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the transaction, the president directly owned 425,381 shares of the company’s stock, valued at approximately $29,087,552.78. This represents a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Meyer sold 4,447 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the transaction, the executive vice president owned 131,825 shares in the company, valued at approximately $9,048,468. The trade was a 3.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Terreno Realty

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Terreno Realty in the 2nd quarter valued at $1,213,726,000. Principal Financial Group Inc. lifted its holdings in shares of Terreno Realty by 246.6% in the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock valued at $257,257,000 after purchasing an additional 2,979,982 shares during the last quarter. Norges Bank purchased a new stake in shares of Terreno Realty in the 4th quarter valued at about $168,221,000. Geode Capital Management LLC raised its position in Terreno Realty by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock valued at $159,620,000 after purchasing an additional 17,921 shares during the last quarter. Finally, Resolution Capital Ltd boosted its stake in shares of Terreno Realty by 6.7% during the first quarter. Resolution Capital Ltd now owns 1,623,857 shares of the real estate investment trust’s stock worth $99,737,000 after buying an additional 101,709 shares during the period.

Terreno Realty Trading Down 0.5%

Shares of TRNO stock opened at $66.10 on Monday. Terreno Realty has a fifty-two week low of $55.92 and a fifty-two week high of $78.94. The company has a 50 day moving average price of $68.31 and a 200 day moving average price of $66.37. The stock has a market capitalization of $7.20 billion, a P/E ratio of 17.72 and a beta of 1.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The company had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.15 million. Equities research analysts predict that Terreno Realty will post 2.83 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s payout ratio is currently 55.76%.

About Terreno Realty

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. The company focuses primarily on functional, well-located properties that support distribution, transportation, and other industrial activities.

Terreno’s portfolio includes warehouses, distribution facilities, transshipment buildings, and industrial properties that may offer outdoor storage or other specialized features. Its strategy emphasizes infill locations with access to population centers, transportation infrastructure, ports, airports, and other important logistics networks.

The company serves six key coastal markets: Los Angeles, Northern New Jersey and New York City, the San Francisco Bay Area, Seattle, Miami, and Washington, DC Terreno Realty was founded in 2009 and became a publicly traded company in 2010.