Terreno Realty Co. (NYSE:TRNO) Given Average Recommendation of “Hold” by Brokerages

Terreno Realty Co. (NYSE:TRNO) has been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $69.36.

Several brokerages have recently issued reports on TRNO. Piper Sandler dropped their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Barclays reiterated an “equal weight” rating and set a $60.00 target price (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target for the company. Scotiabank increased their price objective on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $77.00 in a research report on Friday, February 21st.

Terreno Realty Trading Up 2.3 %

NYSE TRNO opened at $64.10 on Thursday. The firm has a market capitalization of $6.40 billion, a PE ratio of 33.39, a P/E/G ratio of 2.82 and a beta of 0.93. The stock’s 50 day moving average is $65.89 and its 200 day moving average is $63.75. Terreno Realty has a twelve month low of $53.78 and a twelve month high of $71.63. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. Research analysts forecast that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 3.06%. Terreno Realty’s dividend payout ratio is presently 102.08%.

Hedge Funds Weigh In On Terreno Realty

Several institutional investors have recently bought and sold shares of TRNO. Assetmark Inc. lifted its position in Terreno Realty by 2,381.3% during the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 381 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Terreno Realty by 1.7% during the 3rd quarter. Mutual of America Capital Management LLC now owns 88,179 shares of the real estate investment trust’s stock valued at $5,893,000 after buying an additional 1,452 shares in the last quarter. Quest Partners LLC purchased a new position in Terreno Realty in the third quarter worth about $370,000. Pathstone Holdings LLC increased its stake in Terreno Realty by 4.4% during the third quarter. Pathstone Holdings LLC now owns 23,624 shares of the real estate investment trust’s stock worth $1,579,000 after acquiring an additional 995 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Terreno Realty during the third quarter valued at approximately $1,397,000.

About Terreno Realty

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.