Terreno Realty Corporation (NYSE:TRNO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Terreno Realty Corporation (NYSE:TRNO) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $69.2143.

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Raymond James Financial assumed coverage on Terreno Realty in a report on Wednesday. They issued an “underperform” rating on the stock. Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Robert W. Baird set a $69.00 price objective on shares of Terreno Realty in a research report on Friday, May 8th. Finally, UBS Group set a $68.00 price objective on shares of Terreno Realty in a research report on Thursday.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DigitalBridge Group Inc. lifted its stake in shares of Terreno Realty by 29.0% during the third quarter. DigitalBridge Group Inc. now owns 346,700 shares of the real estate investment trust’s stock valued at $18,649,000 after acquiring an additional 78,000 shares during the period. Delphi Management Inc. MA acquired a new position in shares of Terreno Realty during the fourth quarter valued at $1,238,000. JPMorgan Chase & Co. lifted its stake in shares of Terreno Realty by 14.6% during the third quarter. JPMorgan Chase & Co. now owns 1,252,479 shares of the real estate investment trust’s stock valued at $71,078,000 after acquiring an additional 159,104 shares during the period. Sage Rhino Capital LLC lifted its stake in shares of Terreno Realty by 36.6% during the fourth quarter. Sage Rhino Capital LLC now owns 40,190 shares of the real estate investment trust’s stock valued at $2,360,000 after acquiring an additional 10,777 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Terreno Realty by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust’s stock valued at $70,950,000 after acquiring an additional 81,444 shares during the period.

Terreno Realty Stock Performance

Terreno Realty stock opened at $64.33 on Friday. The firm has a market capitalization of $6.84 billion, a P/E ratio of 15.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. Terreno Realty has a 52-week low of $53.00 and a 52-week high of $67.83. The stock has a fifty day moving average price of $65.67 and a two-hundred day moving average price of $63.48.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, topping the consensus estimate of $0.30 by $0.36. The business had revenue of $124.44 million for the quarter, compared to the consensus estimate of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. As a group, analysts anticipate that Terreno Realty will post 2.79 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, June 26th. Terreno Realty’s dividend payout ratio (DPR) is presently 50.86%.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.