Terreno Realty Co. (NYSE:TRNO) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $48.67.
Several equities research analysts have issued reports on TRNO shares. Goldman Sachs Group started coverage on Terreno Realty in a research note on Wednesday, May 15th. They set a “buy” rating and a $49.00 price target for the company. Mitsubishi UFJ Financial Group lifted their price target on Terreno Realty to $45.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Zacks Investment Research lowered Terreno Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. KeyCorp lifted their price target on Terreno Realty from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, ValuEngine lowered Terreno Realty from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRNO. Zacks Investment Management purchased a new position in shares of Terreno Realty during the 2nd quarter worth approximately $1,224,000. Pictet Asset Management Ltd. grew its holdings in shares of Terreno Realty by 17.6% during the 2nd quarter. Pictet Asset Management Ltd. now owns 12,000 shares of the real estate investment trust’s stock worth $588,000 after acquiring an additional 1,800 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Terreno Realty by 134.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,800,781 shares of the real estate investment trust’s stock worth $88,309,000 after acquiring an additional 1,031,370 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of Terreno Realty by 122.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 21,917 shares of the real estate investment trust’s stock worth $1,075,000 after acquiring an additional 12,070 shares during the period. Finally, Jefferies Group LLC purchased a new position in shares of Terreno Realty during the 2nd quarter worth approximately $446,000. 96.87% of the stock is owned by institutional investors.
TRNO stock traded up $0.49 during mid-day trading on Friday, hitting $50.05. 11,387 shares of the stock were exchanged, compared to its average volume of 291,579. The company has a quick ratio of 4.96, a current ratio of 4.96 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $49.30. Terreno Realty has a 12 month low of $33.52 and a 12 month high of $50.79.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, October 3rd. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.24.
About Terreno Realty
Terreno Realty Corporation 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
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