Terreno Realty (NYSE:TRNO) Upgraded at Scotiabank

Scotiabank upgraded shares of Terreno Realty (NYSE:TRNO) from a sector perform rating to a sector outperform rating in a report issued on Monday morning, Marketbeat.com reports. The firm currently has $67.00 target price on the real estate investment trust’s stock.

TRNO has been the subject of a number of other reports. Cantor Fitzgerald initiated coverage on Terreno Realty in a research report on Wednesday, October 1st. They set an “overweight” rating and a $70.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. The Goldman Sachs Group raised their price target on shares of Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Piper Sandler upped their price objective on shares of Terreno Realty from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, September 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Terreno Realty in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.27.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $61.07 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. Terreno Realty has a 52 week low of $48.18 and a 52 week high of $69.20. The firm has a market cap of $6.31 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The firm’s fifty day moving average is $58.80 and its 200-day moving average is $57.51.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, November 12th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The business had revenue of $116.25 million during the quarter, compared to the consensus estimate of $114.62 million. Terreno Realty had a return on equity of 6.71% and a net margin of 59.56%. Sell-side analysts predict that Terreno Realty will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

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. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. Terreno Realty’s dividend payout ratio (DPR) is 66.03%.

Insider Buying and Selling at Terreno Realty

In related news, EVP John Tull Meyer sold 4,758 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 119,949 shares in the company, valued at $7,190,942.55. The trade was a 3.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Terreno Realty

Institutional investors have recently made changes to their positions in the stock. Mather Group LLC. acquired a new stake in shares of Terreno Realty in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its stake in Terreno Realty by 73.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 189 shares during the period. First Horizon Corp bought a new position in Terreno Realty in the third quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its stake in 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 valued at $29,000 after acquiring an additional 350 shares during the period. Finally, Osaic Holdings Inc. grew its stake in Terreno Realty by 140.6% in the second quarter. Osaic Holdings Inc. now owns 611 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 357 shares during the period.

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.