Terreno Realty Corporation (NYSE:TRNO) Receives Average Rating of “Moderate Buy” from Brokerages

Terreno Realty Corporation (NYSE:TRNO) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $73.2857.

TRNO has been the subject of several analyst reports. Citigroup boosted their target price on Terreno Realty from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Barclays boosted their price objective on Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Wells Fargo & Company raised their target price on shares of Terreno Realty from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday. Piper Sandler boosted their price target on shares of Terreno Realty from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, KeyCorp raised their price objective on shares of Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $65.73 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $7.16 billion, a P/E ratio of 17.62 and a beta of 1.02. The firm’s 50 day moving average price is $69.31 and its 200-day moving average price is $66.34. Terreno Realty has a one year low of $55.71 and a one year high of $78.94.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The company had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.15 million. As a group, equities research analysts predict that Terreno Realty will post 2.83 EPS for the current year.

Terreno Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 30th. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s dividend payout ratio (DPR) is currently 55.76%.

Insider Buying and Selling

In other news, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the sale, the president owned 425,381 shares of the company’s stock, valued at $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Tull Meyer sold 4,447 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction of $305,242.08. Following the transaction, the executive vice president owned 131,825 shares in the company, valued at approximately $9,048,468. This trade represents a 3.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Terreno Realty

A number of institutional investors have recently modified their holdings of TRNO. EverSource Wealth Advisors LLC increased its holdings in shares of Terreno Realty by 57.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Terreno Realty by 52.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 172 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Terreno Realty by 49.4% during the 4th quarter. UMB Bank n.a. now owns 535 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 177 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Terreno Realty by 15.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 193 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Terreno Realty by 2.8% in the 3rd quarter. Mackenzie Financial Corp now owns 7,072 shares of the real estate investment trust’s stock valued at $401,000 after purchasing an additional 193 shares during the last quarter.

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.