Terreno Realty (NYSE:TRNO) Releases Earnings Results, Beats Estimates By $0.27 EPS

Terreno Realty (NYSE:TRNO) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.27, reports. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The business had revenue of $132.23 million during the quarter, compared to the consensus estimate of $128.72 million.

Terreno Realty Stock Performance

TRNO stock traded down $1.40 during trading on Thursday, reaching $66.59. 288,669 shares of the stock were exchanged, compared to its average volume of 752,218. Terreno Realty has a twelve month low of $57.95 and a twelve month high of $78.94. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.26 billion, a P/E ratio of 17.86 and a beta of 0.98. The stock has a 50 day simple moving average of $65.53 and a 200-day simple moving average of $65.85.

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, December 15th. Terreno Realty’s dividend payout ratio is currently 61.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TRNO shares. KeyCorp raised their target price on shares of Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group increased their price objective on Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company increased their target price on shares of Terreno Realty from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. Barclays boosted their price target on shares of Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Finally, BMO Capital Markets upgraded Terreno Realty from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.50.

Insider Buying and Selling

In other Terreno Realty news, President Michael Coke sold 8,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the transaction, the president directly owned 425,381 shares of the company’s stock, valued at approximately $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Meyer sold 4,447 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 131,825 shares of the company’s stock, valued at approximately $9,048,468. This represents a 3.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company’s stock.

About Terreno Realty

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.