Terreno Realty Corporation (NYSE:TRNO) Receives $67.40 Consensus Price Target from Analysts

by · The Markets Daily

Terreno Realty Corporation (NYSE:TRNO – Get Free Report) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $69.40.

TRNO has been the subject of several recent research reports. Mizuho boosted their price target on Terreno Realty from $53.00 to $56.00 and gave the company an “underperform” rating in a report on Thursday, December 4th. Cantor Fitzgerald boosted their price objective on Terreno Realty from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company increased their target price on shares of Terreno Realty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Citizens Jmp lifted their price target on shares of Terreno Realty from $66.00 to $70.00 and gave the company a “market outperform” rating in a report on Friday, February 6th. Finally, Robert W. Baird set a $64.00 price objective on shares of Terreno Realty and gave the stock an “outperform” rating in a research note on Thursday, January 8th.

Get Our Latest Analysis on TRNO

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $65.51 on Friday. Terreno Realty has a 12-month low of $48.18 and a 12-month high of $69.20. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.64 and a beta of 1.13. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $61.28 and a 200 day moving average of $59.33.

Terreno Realty (NYSE:TRNO – Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.68. The business had revenue of $137.48 million for the quarter, compared to analysts’ expectations of $124.72 million. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. On average, research analysts anticipate that Terreno Realty will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, March 27th. Terreno Realty’s dividend payout ratio is presently 53.33%.

Hedge Funds Weigh In On Terreno Realty

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in Terreno Realty by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 834,607 shares of the real estate investment trust’s stock valued at $49,000,000 after purchasing an additional 8,809 shares during the period. Natixis Advisors LLC purchased a new stake in Terreno Realty during the 4th quarter valued at approximately $1,452,000. Nomura Asset Management Co. Ltd. raised its position in shares of Terreno Realty by 2.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 154,580 shares of the real estate investment trust’s stock valued at $9,075,000 after buying an additional 4,230 shares during the last quarter. Norges Bank bought a new stake in shares of Terreno Realty during the fourth quarter valued at approximately $168,221,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Terreno Realty by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock worth $159,620,000 after buying an additional 17,921 shares in the last quarter.

About Terreno Realty

(Get Free Report)

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

Further Reading