Terreno Realty Corporation (NYSE:TRNO) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Terreno Realty Corporation (NYSE:TRNO) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $73.71.

Several brokerages have issued reports on TRNO. Cantor Fitzgerald boosted their target price on shares of Terreno Realty from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Wells Fargo & Company lifted their price target on Terreno Realty from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, September 1st. The Goldman Sachs Group upped their price target on Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 24th. UBS Group set a $74.00 price objective on Terreno Realty in a research note on Monday, September 21st. Finally, Mizuho raised their price objective on Terreno Realty from $56.00 to $60.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 19th.

Terreno Realty Stock Up 0.1%

TRNO stock opened at $66.10 on Monday. Terreno Realty has a 52-week low of $55.92 and a 52-week high of $78.94. The company’s 50 day simple moving average is $68.31 and its 200-day simple moving average is $66.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $7.20 billion, a P/E ratio of 17.72 and a beta of 1.02.

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

Terreno Realty Increases Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.4%. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s dividend payout ratio is currently 55.76%.

Insider Buying and Selling

In other Terreno Realty news, EVP John Meyer sold 4,447 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value 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 represents a 3.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael A. Coke sold 8,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the sale, the president owned 425,381 shares of the company’s stock, valued at approximately $29,087,552.78. The trade was a 1.85% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Terreno Realty

Several institutional investors and hedge funds have recently modified their holdings of TRNO. EverSource Wealth Advisors LLC grew its position in shares of Terreno Realty by 57.0% in the first 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 during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Terreno Realty by 0.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,863 shares of the real estate investment trust’s stock worth $1,466,000 after purchasing an additional 200 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Terreno Realty by 4.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,166 shares of the real estate investment trust’s stock worth $421,000 after purchasing an additional 300 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Terreno Realty by 2.8% during the 1st quarter. Glenmede Trust Co. NA now owns 14,548 shares of the real estate investment trust’s stock valued at $894,000 after purchasing an additional 403 shares during the period. Finally, Empowered Funds LLC boosted its stake in Terreno Realty by 12.8% during the 1st quarter. Empowered Funds LLC now owns 3,649 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 414 shares during the period.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. The company focuses primarily on functional, well-located properties that support distribution, transportation, and other industrial activities.

Terreno’s portfolio includes warehouses, distribution facilities, transshipment buildings, and industrial properties that may offer outdoor storage or other specialized features. Its strategy emphasizes infill locations with access to population centers, transportation infrastructure, ports, airports, and other important logistics networks.

The company serves six key coastal markets: Los Angeles, Northern New Jersey and New York City, the San Francisco Bay Area, Seattle, Miami, and Washington, DC Terreno Realty was founded in 2009 and became a publicly traded company in 2010.