Terreno Realty (NYSE:TRNO) Price Target Raised to $56.00

by · The Cerbat Gem

Terreno Realty (NYSE:TRNO – Free Report) had its price objective hoisted by Mizuho from $53.00 to $56.00 in a report published on Thursday,Benzinga reports. They currently have an underperform rating on the real estate investment trust’s stock.

A number of other analysts have also recently issued reports on TRNO. Weiss Ratings reissued a “hold (c+)” rating on shares of Terreno Realty in a research note on Tuesday. Scotiabank upgraded Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 price target for the company in a research note on Monday, November 10th. Wells Fargo & Company raised their price target on Terreno Realty from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. KeyCorp boosted their price target on Terreno Realty from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group set a $56.00 price target on Terreno Realty in a research note on Thursday. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Terreno Realty currently has an average rating of “Hold” and a consensus target price of $65.54.

Check Out Our Latest Research Report on Terreno Realty

Terreno Realty Stock Down 0.2%

NYSE TRNO opened at $62.29 on Thursday. Terreno Realty has a 52 week low of $48.18 and a 52 week high of $69.20. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $6.44 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 2.56 and a beta of 1.12. The stock’s 50-day moving average price is $60.00 and its 200-day moving average price is $58.02.

Terreno Realty (NYSE:TRNO – Get Free Report) last released its earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.34. Terreno Realty had a net margin of 72.41% and a return on equity of 8.27%. The company had revenue of $116.25 million during the quarter, compared to analyst estimates of $114.62 million. On average, equities research analysts predict that Terreno Realty will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 15th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. Terreno Realty’s payout ratio is presently 66.03%.

Insider Activity at Terreno Realty

In related news, EVP John Tull Meyer sold 4,758 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $59.95, for a total value of $285,242.10. Following the completion of the transaction, the executive vice president directly owned 119,949 shares of the company’s stock, valued at approximately $7,190,942.55. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Terreno Realty

Hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in shares of Terreno Realty by 4.0% in the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock worth $336,139,000 after buying an additional 230,444 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Terreno Realty by 2.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust’s stock worth $333,261,000 after acquiring an additional 125,940 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Terreno Realty by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock worth $262,918,000 after acquiring an additional 523,950 shares during the last quarter. Norges Bank bought a new stake in Terreno Realty during the second quarter worth approximately $156,525,000. Finally, Geode Capital Management LLC raised its position in Terreno Realty by 3.6% during the second quarter. Geode Capital Management LLC now owns 2,631,838 shares of the real estate investment trust’s stock valued at $147,584,000 after purchasing an additional 92,519 shares during the period.

Terreno Realty Company Profile

(Get Free Report)

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.

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