Terreno Realty Corporation (NYSE:TRNO) Stock Has Average Price Target of $73.50 According to Analysts

by · The Cerbat Gem

Shares of Terreno Realty Corporation (NYSE:TRNO – Get Free Report) have received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $73.88.

A number of equities analysts have recently commented on TRNO shares. Weiss Ratings cut shares of Terreno Realty from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd. Barclays increased their price target on shares of Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Cantor Fitzgerald raised their price objective on shares of Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Citigroup restated a “market outperform” rating on shares of Terreno Realty in a research note on Wednesday, October 7th. Finally, Scotiabank upped their target price on shares of Terreno Realty from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th.

View Our Latest Stock Analysis on TRNO

Terreno Realty Trading Down 1.1%

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

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

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Tuesday, December 15th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, December 15th. Terreno Realty’s payout ratio is 68.06%.

Institutional Trading of Terreno Realty

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