Terreno Realty (NYSE:TRNO) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Terreno Realty (NYSE:TRNO) in a report published on Monday morning,Benzinga reports. JMP Securities currently has a $72.00 target price on the real estate investment trust’s stock.

TRNO has been the topic of a number of other research reports. Wolfe Research upgraded shares of Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd. Barclays cut their target price on shares of Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Scotiabank dropped their price target on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com cut shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Terreno Realty currently has a consensus rating of “Hold” and an average price target of $69.22.

Terreno Realty Price Performance

TRNO stock opened at $58.99 on Monday. The firm has a 50 day simple moving average of $60.48 and a two-hundred day simple moving average of $63.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.71 and a quick ratio of 2.71. The stock has a market cap of $5.88 billion, a PE ratio of 32.41, a P/E/G ratio of 2.87 and a beta of 0.90. Terreno Realty has a one year low of $53.78 and a one year high of $71.63.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.24). Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. The company had revenue of $99.64 million during the quarter, compared to analysts’ expectations of $96.31 million. On average, analysts predict that Terreno Realty will post 2.41 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 annualized dividend and a yield of 3.32%. Terreno Realty’s dividend payout ratio (DPR) is presently 107.69%.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in Terreno Realty by 16.4% during the third quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock valued at $708,348,000 after buying an additional 1,496,666 shares during the period. Thrivent Financial for Lutherans lifted its position in Terreno Realty by 238.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,327,932 shares of the real estate investment trust’s stock valued at $78,587,000 after acquiring an additional 935,418 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Terreno Realty during the second quarter worth about $39,064,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Terreno Realty by 339.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust’s stock worth $40,842,000 after purchasing an additional 472,125 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Terreno Realty by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock worth $115,475,000 after purchasing an additional 315,506 shares during the period.

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.