Terreno Realty (NYSE:TRNO) Hits New 1-Year High – What’s Next?

Terreno Realty Corporation (NYSE:TRNO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $67.63 and last traded at $67.5980, with a volume of 61594 shares trading hands. The stock had previously closed at $66.93.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their price target on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Robert W. Baird set a $69.00 target price on Terreno Realty in a research report on Friday, May 8th. Finally, Scotiabank upped their price target on Terreno Realty from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

Terreno Realty Trading Up 0.8%

The business has a 50 day moving average of $65.33 and a two-hundred day moving average of $63.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 16.32 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.36. The business had revenue of $124.44 million during the quarter, compared to the consensus estimate of $122.60 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. Equities analysts predict that Terreno Realty Corporation will post 2.79 EPS for the current year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, June 26th. Terreno Realty’s payout ratio is currently 50.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in Terreno Realty by 57.0% during the first quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 159 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Terreno Realty by 52.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 172 shares in the last quarter. UMB Bank n.a. boosted its holdings in Terreno Realty by 49.4% during the 4th quarter. UMB Bank n.a. now owns 535 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 177 shares during the last quarter. First Horizon Corp boosted its holdings in Terreno Realty by 41.5% during the 4th quarter. First Horizon Corp now owns 651 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 191 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Terreno Realty by 15.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 193 shares in 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.