Terreno Realty (NYSE:TRNO) Stock Breaks Above Fifty Day Moving Average – Here’s What Happened

Shares of Terreno Realty Corporation (NYSE:TRNO) passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $65.67 and traded as high as $65.75. Terreno Realty shares last traded at $65.6890, with a volume of 854,611 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays raised their price objective on Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Scotiabank upped their target price on Terreno Realty from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Weiss Ratings lowered Terreno Realty from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 3rd. BMO Capital Markets upgraded Terreno Realty from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Monday, October 12th. Finally, The Goldman Sachs Group raised their target price on Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.47.

Terreno Realty Stock Up 3.1%

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 capitalization of $7.16 billion, a P/E ratio of 17.61 and a beta of 1.03. The stock has a fifty day moving average price of $65.67 and a two-hundred day moving average price of $65.72.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The company had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.15 million. Research analysts forecast that Terreno Realty Corporation will post 2.84 EPS for the current year.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a $0.57 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.28 annualized dividend and a yield of 3.5%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s payout ratio is 61.13%.

Insiders Place Their Bets

In other Terreno Realty news, President Michael A. Coke sold 8,000 shares of the business’s 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 directly owned 425,381 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, EVP John Meyer sold 4,447 shares of Terreno Realty stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction of $305,242.08. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Terreno Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC grew its holdings in shares of Terreno Realty by 29.5% during the third quarter. ProShare Advisors LLC now owns 149,308 shares of the real estate investment trust’s stock valued at $9,638,000 after buying an additional 34,054 shares in the last quarter. Vise Technologies Inc. raised its position in Terreno Realty by 25.4% during the third quarter. Vise Technologies Inc. now owns 10,278 shares of the real estate investment trust’s stock valued at $663,000 after buying an additional 2,082 shares during the period. State of Wyoming raised its position in Terreno Realty by 411.1% during the third quarter. State of Wyoming now owns 5,591 shares of the real estate investment trust’s stock valued at $361,000 after buying an additional 4,497 shares during the period. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd lifted its stake in Terreno Realty by 15.2% in the 3rd quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd now owns 73,130 shares of the real estate investment trust’s stock worth $4,721,000 after acquiring an additional 9,631 shares in the last quarter. Finally, Moody Aldrich Partners LLC lifted its stake in Terreno Realty by 39.7% in the 3rd quarter. Moody Aldrich Partners LLC now owns 138,027 shares of the real estate investment trust’s stock worth $8,910,000 after acquiring an additional 39,231 shares in the last quarter.

About Terreno Realty

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno’s portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.