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

Terreno Realty Corporation (NYSE:TRNO) has received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $73.88.

TRNO has been the topic of several recent research reports. Scotiabank upped their price target 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. Piper Sandler reissued an “overweight” rating on shares of Terreno Realty in a research note on Friday. Wells Fargo & Company lifted their price objective 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. Citigroup reaffirmed a “market outperform” rating on shares of Terreno Realty in a research note on Wednesday, October 7th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $74.00 target price on shares of Terreno Realty in a report on Monday, November 2nd.

Terreno Realty Price Performance

Shares of TRNO traded up $0.48 on Tuesday, reaching $67.01. The stock had a trading volume of 782,917 shares, compared to its average volume of 791,208. The firm has a market capitalization of $7.39 billion, a PE ratio of 20.00 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. The firm has a 50-day moving average of $65.60 and a 200 day moving average of $66.02. Terreno Realty has a twelve month low of $57.95 and a twelve month high of $78.94.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. The company had revenue of $132.23 million for the quarter, compared to the consensus estimate of $128.72 million. Terreno Realty had a return on equity of 8.10% and a net margin of 68.05%. Sell-side analysts expect that Terreno Realty will post 2.83 EPS for the current year.

Terreno Realty Dividend Announcement

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

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently modified their holdings of TRNO. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Terreno Realty in the 2nd quarter worth $5,984,000. Bank of America Corp DE grew its position in Terreno Realty by 21.8% during the first quarter. Bank of America Corp DE now owns 912,214 shares of the real estate investment trust’s stock valued at $56,028,000 after acquiring an additional 163,347 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Terreno Realty during the second quarter worth about $7,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Terreno Realty by 19,261.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 646,088 shares of the real estate investment trust’s stock worth $41,847,000 after acquiring an additional 642,751 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Terreno Realty by 28.4% in the 2nd quarter. Tidal Investments LLC now owns 170,058 shares of the real estate investment trust’s stock worth $11,015,000 after purchasing an additional 37,616 shares during the period.

Terreno Realty Company Profile

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.