Terreno Realty Corporation (NYSE:TRNO) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Terreno Realty Corporation (NYSE:TRNO) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $73.47.

Several research firms have recently weighed in on TRNO. Scotiabank raised their price target on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. KeyCorp upped their price objective on shares of Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Cantor Fitzgerald lifted their target price on shares of Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Wells Fargo & Company increased their price target on shares of Terreno Realty from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 1st. Finally, Citigroup reissued a “market outperform” rating on shares of Terreno Realty in a research note on Wednesday, October 7th.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $65.36 on Friday. The company has a market capitalization of $7.12 billion, a P/E ratio of 17.52 and a beta of 1.03. Terreno Realty has a 12-month low of $56.09 and a 12-month high of $78.94. The business’s 50 day moving average is $66.08 and its two-hundred day moving average is $66.75. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The business had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.15 million. Analysts expect that Terreno Realty will post 2.84 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a $0.57 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.5%. Terreno Realty’s payout ratio is presently 61.13%.

Insider Activity

In related news, EVP John Meyer sold 4,447 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the sale, the executive vice president directly owned 131,825 shares of the company’s stock, valued at $9,048,468. This represents a 3.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael A. Coke sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the transaction, the president directly owned 425,381 shares of the company’s stock, valued at $29,087,552.78. This represents a 1.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Terreno Realty

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in Terreno Realty by 57.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 159 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Terreno Realty by 0.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,863 shares of the real estate investment trust’s stock worth $1,466,000 after acquiring an additional 200 shares during the period. Cim Investment Management Inc. boosted its holdings in shares of Terreno Realty by 7.4% during the second quarter. Cim Investment Management Inc. now owns 3,565 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 246 shares during the last quarter. Diversify Advisory Services LLC increased its stake in Terreno Realty by 1.3% in the third quarter. Diversify Advisory Services LLC now owns 23,367 shares of the real estate investment trust’s stock valued at $1,494,000 after purchasing an additional 308 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Terreno Realty by 4.5% during the first quarter. PNC Financial Services Group Inc. now owns 7,486 shares of the real estate investment trust’s stock worth $460,000 after buying an additional 320 shares during the period.

Terreno Realty Company Profile

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno’s portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.