Terreno Realty (NYSE:TRNO) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Terreno Realty (NYSE:TRNO) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17, FiscalAI reports. The company had revenue of $132.23 million for the quarter, compared to analyst estimates of $128.72 million. Terreno Realty had a net margin of 68.05% and a return on equity of 8.23%.

Terreno Realty Trading Down 0.8%

Shares of NYSE:TRNO traded down $0.52 during mid-day trading on Friday, reaching $66.57. 296,908 shares of the company’s stock were exchanged, compared to its average volume of 752,775. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 19.89 and a beta of 0.98. The business’s fifty day moving average price is $65.52 and its 200-day moving average price is $65.87. 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 has a twelve month low of $57.95 and a twelve month high of $78.94.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, December 15th. Terreno Realty’s payout ratio is 61.13%.

Insiders Place Their Bets

In related news, EVP John Meyer sold 4,447 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the sale, the executive vice president directly owned 131,825 shares in the company, valued at $9,048,468. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TRNO has been the subject of several research analyst reports. Scotiabank upped their price target on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. BMO Capital Markets raised Terreno Realty from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Monday, October 12th. The Goldman Sachs Group boosted their price objective on Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Weiss Ratings cut Terreno Realty from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd. Finally, Barclays increased their target price on Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.50.

Terreno Realty Company Profile

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno’s portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.