Terreno Realty’s (TRNO) Buy Rating Reiterated at BTIG Research

by · The Cerbat Gem

BTIG Research reiterated their buy rating on shares of Terreno Realty (NYSE:TRNO – Free Report) in a report issued on Tuesday morning,Benzinga reports. BTIG Research currently has a $80.00 price objective on the real estate investment trust’s stock.

TRNO has been the topic of a number of other research reports. Mizuho upped their price target on Terreno Realty from $56.00 to $60.00 and gave the stock an “underperform” rating in a report on Wednesday, August 19th. UBS Group set a $74.00 price objective on Terreno Realty in a research note on Monday, September 21st. Cantor Fitzgerald lifted their price objective on Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Wells Fargo & Company boosted their target price on Terreno Realty from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 1st. Finally, KeyCorp upped their target price on Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.88.

Read Our Latest Report on TRNO

Terreno Realty Stock Down 1.1%

TRNO stock opened at $66.54 on Tuesday. The company has a market cap of $7.34 billion, a P/E ratio of 22.97 and a beta of 0.98. Terreno Realty has a 52 week low of $57.95 and a 52 week high of $78.94. The company’s 50-day moving average price is $65.57 and its 200 day moving average price is $65.99. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.21.

Terreno Realty (NYSE:TRNO – Get Free Report) last issued its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.17. Terreno Realty had a net margin of 68.05% and a return on equity of 8.10%. The company had revenue of $132.23 million for the quarter, compared to analyst estimates of $128.72 million. On average, research analysts expect that Terreno Realty will post 2.83 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.4%. Terreno Realty’s dividend payout ratio (DPR) is presently 68.06%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Terreno Realty in the 2nd quarter valued at about $1,213,726,000. Principal Financial Group Inc. grew its holdings in shares of Terreno Realty by 246.6% during the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after buying an additional 2,979,982 shares in the last quarter. Resolution Capital Ltd raised its position in shares of Terreno Realty by 6.7% in the first quarter. Resolution Capital Ltd now owns 1,623,857 shares of the real estate investment trust’s stock valued at $99,737,000 after buying an additional 101,709 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Terreno Realty by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,584,304 shares of the real estate investment trust’s stock valued at $97,306,000 after buying an additional 36,955 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Terreno Realty in the second quarter valued at approximately $61,764,000.

Terreno Realty Company Profile

(Get Free Report)

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties. Its portfolio includes warehouses and distribution facilities, as well as other properties used for activities such as transportation, logistics, and light manufacturing. The company focuses on major coastal U.S. markets, including New York City, Northern New Jersey, Los Angeles, the San Francisco Bay Area, Seattle, and Miami. In addition to acquiring and leasing properties, Terreno pursues redevelopment and improvement projects to support its tenants’ industrial and distribution needs.

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