Terreno Realty Corporation (NYSE:TRNO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Terreno Realty Corporation (NYSE:TRNO) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $71.7143.

TRNO has been the subject of several recent analyst reports. KeyCorp restated an “overweight” rating on shares of Terreno Realty in a report on Tuesday, June 23rd. Raymond James Financial began coverage on shares of Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. The Goldman Sachs Group raised their target price on shares of Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company lowered their target price 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. Finally, Citigroup reaffirmed an “outperform” rating on shares of Terreno Realty in a research report on Thursday.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $68.18 on Friday. The company has a market cap of $7.25 billion, a P/E ratio of 16.67 and a beta of 1.03. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. Terreno Realty has a 52 week low of $53.00 and a 52 week high of $78.94. The business has a fifty day simple moving average of $68.27 and a 200-day simple moving average of $65.69.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate of $0.30 by $0.36. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The firm had revenue of $124.44 million during the quarter, compared to analyst estimates of $122.60 million. Equities research analysts forecast that Terreno Realty will post 2.81 EPS for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $0.57 dividend. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. Terreno Realty’s dividend payout ratio (DPR) is 50.86%.

Institutional Trading of Terreno Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Terreno Realty by 73.3% in the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 189 shares during the last quarter. Wiser Advisor Group LLC purchased a new stake in Terreno Realty during the third quarter valued at about $25,000. Clearstead Trust LLC acquired a new stake in Terreno Realty during the second quarter worth about $28,000. Caitong International Asset Management Co. Ltd increased its stake in Terreno Realty by 52.8% during the third 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 last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Terreno Realty by 304.3% during the first 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 last quarter.

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.