Terreno Realty Co. to Post Q2 2019 Earnings of $0.35 Per Share, Jefferies Financial Group Forecasts (TRNO)
Terreno Realty Co. (NYSE:TRNO) – Equities researchers at Jefferies Financial Group boosted their Q2 2019 earnings estimates for shares of Terreno Realty in a note issued to investors on Wednesday, April 10th. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $0.35 for the quarter, up from their previous forecast of $0.34. Jefferies Financial Group also issued estimates for Terreno Realty’s FY2019 earnings at $1.40 EPS, Q2 2020 earnings at $0.37 EPS, Q1 2021 earnings at $0.40 EPS and FY2021 earnings at $1.66 EPS.
Separately, Zacks Investment Research upgraded shares of Terreno Realty from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Thursday, December 20th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $42.75.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. Alliancebernstein L.P. boosted its stake in Terreno Realty by 2.0% during the 3rd quarter. Alliancebernstein L.P. now owns 96,855 shares of the real estate investment trust’s stock valued at $3,651,000 after purchasing an additional 1,857 shares during the period. Bank of New York Mellon Corp boosted its stake in Terreno Realty by 10.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 493,083 shares of the real estate investment trust’s stock valued at $18,590,000 after purchasing an additional 44,671 shares during the period. Martingale Asset Management L P acquired a new position in Terreno Realty during the 3rd quarter valued at about $434,000. BlackRock Inc. boosted its stake in Terreno Realty by 2.4% during the 3rd quarter. BlackRock Inc. now owns 5,808,106 shares of the real estate investment trust’s stock valued at $218,965,000 after purchasing an additional 138,624 shares during the period. Finally, American International Group Inc. boosted its stake in Terreno Realty by 6.2% during the 3rd quarter. American International Group Inc. now owns 38,069 shares of the real estate investment trust’s stock valued at $1,435,000 after purchasing an additional 2,213 shares during the period. 99.64% of the stock is owned by institutional investors.
In related news, Director David M. Lee bought 5,000 shares of the company’s stock in a transaction dated Friday, February 8th. The stock was bought at an average price of $42.04 per share, with a total value of $210,200.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $210,200. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, March 28th. Terreno Realty’s dividend payout ratio (DPR) is 88.07%.
About Terreno Realty
Terreno Realty Corporation 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
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