Terreno Realty (NYSE:TRNO) Upgraded to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Terreno Realty (NYSE:TRNO) from a neutral rating to a buy rating in a research note published on Friday morning, Marketbeat reports. The Goldman Sachs Group currently has $77.00 target price on the real estate investment trust’s stock, up from their prior target price of $65.00.

Other analysts have also issued research reports about the company. BMO Capital Markets upped their price objective on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Scotiabank cut their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, October 25th. Barclays reiterated an “equal weight” rating and issued a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. JMP Securities restated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $69.27.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $67.08 on Friday. Terreno Realty has a one year low of $53.78 and a one year high of $71.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The firm’s 50 day moving average price is $62.56 and its 200-day moving average price is $64.03. The firm has a market cap of $6.69 billion, a P/E ratio of 34.94, a P/E/G ratio of 2.82 and a beta of 0.91.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, equities research analysts predict that Terreno Realty will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 102.08%.

Hedge Funds Weigh In On Terreno Realty

Hedge funds have recently modified their holdings of the business. Creative Planning boosted its stake in Terreno Realty by 20.2% during the 3rd quarter. Creative Planning now owns 5,765 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 968 shares during the period. Blue Trust Inc. raised its holdings in shares of Terreno Realty by 72.6% in the third quarter. Blue Trust Inc. now owns 3,067 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 1,290 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Terreno Realty by 6,580.0% during the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 987 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Terreno Realty by 35.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,753 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 986 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its position in Terreno Realty by 14.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 4,959 shares of the real estate investment trust’s stock valued at $316,000 after acquiring an additional 625 shares during the period.

Terreno Realty Company Profile

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.