Terreno Realty (NYSE:TRNO) Reaches New 52-Week High – Here’s Why

Terreno Realty Corporation (NYSE:TRNO) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $67.83 and last traded at $67.5750, with a volume of 134719 shares trading hands. The stock had previously closed at $67.33.

Wall Street Analysts Forecast Growth

TRNO has been the subject of a number of research analyst reports. Robert W. Baird set a $69.00 price target on Terreno Realty in a report on Friday, May 8th. Scotiabank reduced their price objective on Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 18th. Wells Fargo & Company decreased their price objective on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Raymond James Financial initiated coverage on shares of Terreno Realty in a research note on Wednesday, June 17th. They set an “underperform” rating for the company. Finally, UBS Group set a $68.00 target price on shares of Terreno Realty in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Terreno Realty presently has a consensus rating of “Moderate Buy” and an average price target of $69.21.

Terreno Realty Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50-day simple moving average of $65.64 and a two-hundred day simple moving average of $63.77. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 16.55 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.36. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. The company had revenue of $124.44 million during the quarter, compared to the consensus estimate of $122.60 million. On average, equities research analysts predict that Terreno Realty Corporation will post 2.8 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a $0.52 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.08 annualized dividend and a yield of 3.1%. Terreno Realty’s dividend payout ratio is 50.86%.

Institutional Investors Weigh In On Terreno Realty

A number of hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in Terreno Realty by 73.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 189 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in Terreno Realty during the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd boosted its position in Terreno Realty by 52.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 172 shares during the period. Geneos Wealth Management Inc. boosted its position in Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 350 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Terreno Realty in the fourth quarter worth $30,000.

About Terreno Realty

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.