Terreno Realty (NYSE:TRNO) Given “Equal Weight” Rating at Barclays

Barclays reaffirmed their equal weight rating on shares of Terreno Realty (NYSE:TRNO) in a research note released on Monday morning, MarketBeat.com reports. Barclays currently has a $60.00 price target on the real estate investment trust’s stock, down from their prior price target of $68.00.

A number of other equities research analysts have also commented on the stock. Wolfe Research raised shares of Terreno Realty to a “hold” rating in a report on Sunday, September 22nd. JMP Securities reissued a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research note on Monday, January 6th. StockNews.com lowered Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Scotiabank reduced their target price on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.33.

Terreno Realty Price Performance

Shares of Terreno Realty stock opened at $58.78 on Monday. Terreno Realty has a twelve month low of $53.78 and a twelve month high of $71.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71. The firm has a market cap of $5.86 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.87 and a beta of 0.90. The firm’s 50-day simple moving average is $60.21 and its 200-day simple moving average is $63.98.

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

Terreno Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 13th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Friday, December 13th. Terreno Realty’s payout ratio is presently 107.69%.

Institutional Investors Weigh In On Terreno Realty

A number of hedge funds have recently modified their holdings of TRNO. Harbor Capital Advisors Inc. lifted its stake in Terreno Realty by 20.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 29,884 shares of the real estate investment trust’s stock valued at $1,767,000 after buying an additional 5,015 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Terreno Realty by 15.9% during the third quarter. Tidal Investments LLC now owns 61,852 shares of the real estate investment trust’s stock worth $4,134,000 after buying an additional 8,490 shares in the last quarter. Geode Capital Management LLC raised its position in Terreno Realty by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after buying an additional 8,940 shares during the last quarter. Barclays PLC lifted its position in shares of Terreno Realty by 131.0% in the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after purchasing an additional 96,380 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Terreno Realty by 3.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 141,335 shares of the real estate investment trust’s stock valued at $9,445,000 after buying an additional 4,090 shares during the last quarter.

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.