Terreno Realty (NYSE:TRNO) Price Target Lowered to $57.00 at Scotiabank

Terreno Realty (NYSE:TRNO) had its price target lowered by Scotiabank from $68.00 to $57.00 in a research note released on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

TRNO has been the topic of several other research reports. Barclays dropped their price target on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target on the stock. Piper Sandler downgraded shares of Terreno Realty from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $61.00 in a report on Monday. BMO Capital Markets raised their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and increased their price target for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $66.55.

Terreno Realty Stock Performance

TRNO opened at $55.87 on Monday. The firm’s 50-day moving average price is $64.57 and its 200-day moving average price is $62.85. The company has a market cap of $5.76 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty has a 52-week low of $48.18 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, equities analysts anticipate that Terreno Realty will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.51%. Terreno Realty’s payout ratio is currently 102.08%.

Institutional Trading of Terreno Realty

A number of institutional investors have recently made changes to their positions in TRNO. GAMMA Investing LLC lifted its stake in shares of Terreno Realty by 59,336.4% in the first quarter. GAMMA Investing LLC now owns 78,456 shares of the real estate investment trust’s stock worth $4,960,000 after buying an additional 78,324 shares in the last quarter. Moody National Bank Trust Division grew its position in shares of Terreno Realty by 3.5% in the first quarter. Moody National Bank Trust Division now owns 10,151 shares of the real estate investment trust’s stock valued at $642,000 after purchasing an additional 343 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Terreno Realty by 20.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,916 shares of the real estate investment trust’s stock valued at $350,000 after purchasing an additional 988 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in Terreno Realty by 83.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 18,252 shares of the real estate investment trust’s stock worth $1,079,000 after buying an additional 8,282 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Terreno Realty by 44.2% during the fourth quarter. Mackenzie Financial Corp now owns 6,532 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 2,001 shares during the last quarter.

Terreno Realty Company Profile

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) 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 All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.