Terreno Realty (NYSE:TRNO) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Terreno Realty Corporation (NYSE:TRNO)’s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $66.42 and traded as high as $66.82. Terreno Realty shares last traded at $66.6550, with a volume of 912,792 shares traded.

Wall Street Analysts Forecast Growth

TRNO has been the subject of several recent research reports. Citigroup upped their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. BMO Capital Markets reissued a “market perform” rating on shares of Terreno Realty in a research note on Monday, September 21st. 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. Cantor Fitzgerald raised their target price on Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Finally, Raymond James Financial assumed coverage on Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Terreno Realty has a consensus rating of “Moderate Buy” and an average price target of $73.71.

Terreno Realty Stock Down 2.0%

The stock’s 50-day moving average price is $67.99 and its 200-day moving average price is $66.44. 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 stock has a market cap of $7.08 billion, a price-to-earnings ratio of 17.43 and a beta of 1.02.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. The business had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. On average, sell-side analysts expect that Terreno Realty Corporation will post 2.83 earnings per share for the current year.

Terreno Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a $0.57 dividend. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.5%. Terreno Realty’s dividend payout ratio is 55.76%.

Insider Transactions at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the sale, the president directly owned 425,381 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Meyer sold 4,447 shares of the business’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 value of $305,242.08. Following the completion of the transaction, the executive vice president directly owned 131,825 shares in the company, valued at approximately $9,048,468. This trade represents a 3.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by insiders.

Institutional Trading of Terreno Realty

Hedge funds have recently modified their holdings of the stock. Cim Investment Management Inc. increased its stake in Terreno Realty by 7.4% in the second quarter. Cim Investment Management Inc. now owns 3,565 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 246 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Terreno Realty during the 2nd quarter worth about $243,000. Tidal Investments LLC grew its stake in shares of Terreno Realty by 28.4% in the 2nd quarter. Tidal Investments LLC now owns 170,058 shares of the real estate investment trust’s stock valued at $11,015,000 after buying an additional 37,616 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Terreno Realty in the 2nd quarter valued at about $30,000. Finally, Allworth Financial LP increased its position in Terreno Realty by 5.1% in the 2nd quarter. Allworth Financial LP now owns 10,176 shares of the real estate investment trust’s stock valued at $659,000 after buying an additional 495 shares in the last quarter.

About Terreno Realty

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. Its portfolio is focused primarily on functional, well-located properties that support logistics, distribution, warehousing, and other industrial uses.

The company serves metropolitan areas including Los Angeles, the San Francisco Bay Area, Seattle, New York City and Northern New Jersey, Miami, and Washington, DC Its properties generally include warehouse, distribution, flex, and other industrial facilities leased to businesses across a range of industries.

Terreno Realty was founded in 2009 and became a publicly traded company in 2010.