Terreno Realty Co. (NYSE:TRNO) has received an average rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $70.00.
A number of research firms have recently issued reports on TRNO. Compass Point increased their target price on Terreno Realty from $69.00 to $76.00 and gave the company a “buy” rating in a report on Monday, August 16th. Mizuho reaffirmed a “neutral” rating and issued a $65.00 price target on shares of Terreno Realty in a research note on Wednesday, July 14th. Zacks Investment Research downgraded shares of Terreno Realty from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, KeyCorp increased their target price on shares of Terreno Realty from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, July 15th.
Several large investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Terreno Realty by 29.7% in the second quarter. FMR LLC now owns 3,754,171 shares of the real estate investment trust’s stock valued at $242,218,000 after buying an additional 859,263 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Terreno Realty by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,907,103 shares of the real estate investment trust’s stock worth $341,253,000 after purchasing an additional 318,343 shares during the period. JPMorgan Chase & Co. lifted its stake in Terreno Realty by 22.9% during the first quarter. JPMorgan Chase & Co. now owns 1,560,294 shares of the real estate investment trust’s stock worth $90,138,000 after purchasing an additional 290,613 shares during the period. Principal Financial Group Inc. lifted its stake in Terreno Realty by 4.7% during the second quarter. Principal Financial Group Inc. now owns 4,715,859 shares of the real estate investment trust’s stock worth $304,268,000 after purchasing an additional 210,470 shares during the period. Finally, BlackRock Inc. lifted its stake in Terreno Realty by 3.1% during the first quarter. BlackRock Inc. now owns 7,046,079 shares of the real estate investment trust’s stock worth $407,054,000 after purchasing an additional 210,189 shares during the period. 96.91% of the stock is currently owned by institutional investors.
Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, August 4th. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.16). Terreno Realty had a net margin of 34.93% and a return on equity of 4.29%. The company had revenue of $53.30 million for the quarter, compared to analyst estimates of $51.63 million. As a group, analysts expect that Terreno Realty will post 1.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be given a $0.34 dividend. This is an increase from Terreno Realty’s previous quarterly dividend of $0.29. This represents a $1.36 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is currently 80.56%.
Terreno Realty Company Profile
Terreno Realty Corp. operates as a real estate company, which acquires, owns, and manages industrial properties. It invests in several types of industrial real estate, including warehouse/distribution, flex, research and development, and trans-shipment. The company was founded by Michael A. Coke and W.
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