Terreno Realty Co. (NYSE:TRNO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Terreno Realty Co. (NYSE:TRNO) have earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $69.36.

A number of equities analysts have recently commented on TRNO shares. Piper Sandler dropped their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. BMO Capital Markets lifted their target price on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft started coverage on Terreno Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price for the company. Finally, JMP Securities restated a “market outperform” rating and set a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 10th.

Institutional Investors Weigh In On Terreno Realty

Hedge funds have recently made changes to their positions in the company. Assetmark Inc. lifted its holdings in shares of Terreno Realty by 2,381.3% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 381 shares during the period. Manchester Capital Management LLC purchased a new stake in shares of Terreno Realty in the 4th quarter worth $27,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Terreno Realty by 176.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 361 shares during the period. Quarry LP lifted its holdings in shares of Terreno Realty by 613.7% in the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 626 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Terreno Realty by 94.6% in the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 370 shares during the period.

Terreno Realty Stock Performance

NYSE:TRNO opened at $66.33 on Thursday. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 2.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The stock’s 50 day simple moving average is $65.56 and its two-hundred day simple moving average is $63.88. Terreno Realty has a 1 year low of $53.78 and a 1 year high of $71.63.

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

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio is 102.08%.

About Terreno Realty

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.