Terreno Realty Co. (NYSE:TRNO) – Equities researchers at Jefferies Financial Group boosted their Q3 2021 earnings per share estimates for Terreno Realty in a report released on Thursday, September 16th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will earn $0.42 per share for the quarter, up from their prior forecast of $0.41. Jefferies Financial Group also issued estimates for Terreno Realty’s Q4 2021 earnings at $0.43 EPS, Q3 2022 earnings at $0.47 EPS, Q4 2022 earnings at $0.48 EPS, FY2022 earnings at $1.85 EPS, Q1 2023 earnings at $0.50 EPS, Q2 2023 earnings at $0.49 EPS, FY2023 earnings at $2.03 EPS and FY2024 earnings at $2.17 EPS.
Several other analysts have also recently weighed in on the company. Berenberg Bank cut Terreno Realty from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a research report on Thursday, May 27th. KeyCorp boosted their price target on Terreno Realty from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, July 15th. Zacks Investment Research raised Terreno Realty from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Friday. Compass Point boosted their price target on Terreno Realty from $69.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, August 16th. Finally, Mizuho reissued a “neutral” rating and issued a $65.00 price target on shares of Terreno Realty in a research report on Wednesday, July 14th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $69.25.
Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, August 4th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.16). The business had revenue of $53.30 million during the quarter, compared to the consensus estimate of $51.63 million. Terreno Realty had a return on equity of 4.29% and a net margin of 34.93%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, October 1st will be issued a $0.34 dividend. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.29. This represents a $1.36 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 30th. Terreno Realty’s payout ratio is presently 80.56%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new stake in Terreno Realty during the 1st quarter valued at $27,000. Atlantic Trust LLC purchased a new stake in Terreno Realty during the 2nd quarter valued at $27,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Terreno Realty during the 2nd quarter valued at $27,000. Northwestern Mutual Wealth Management Co. raised its stake in Terreno Realty by 485.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 388 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in Terreno Realty during the 1st quarter valued at $44,000. Institutional investors own 96.91% of the company’s stock.
About Terreno Realty
Terreno Realty Corp. operates as a real estate company, which acquires, owns, and manages industrial properties. It invests in several types of industrial real estate, including warehouse/distribution, flex, research and development, and trans-shipment. The company was founded by Michael A. Coke and W.
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