Zacks: Brokerages Anticipate Terreno Realty Corporation (TRNO) Will Post Quarterly Sales of $34.86 Million
Analysts expect Terreno Realty Corporation (NYSE:TRNO) to post sales of $34.86 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Terreno Realty’s earnings, with the lowest sales estimate coming in at $34.05 million and the highest estimate coming in at $35.72 million. Terreno Realty posted sales of $29.84 million during the same quarter last year, which suggests a positive year over year growth rate of 16.8%. The business is expected to report its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Terreno Realty will report full year sales of $34.86 million for the current year, with estimates ranging from $131.91 million to $133.58 million. For the next fiscal year, analysts forecast that the business will report sales of $151.72 million per share, with estimates ranging from $139.21 million to $159.49 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Terreno Realty.
Several analysts have recently commented on the company. National Securities upgraded Terreno Realty from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Wednesday, November 22nd. Zacks Investment Research upgraded Terreno Realty from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Thursday. BidaskClub lowered Terreno Realty from a “strong-buy” rating to a “buy” rating in a report on Monday, October 23rd. Robert W. Baird reiterated a “hold” rating and set a $35.00 price objective on shares of Terreno Realty in a report on Tuesday. Finally, Sandler O’Neill set a $40.00 price objective on Terreno Realty and gave the company a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $38.40.
Shares of Terreno Realty (NYSE TRNO) traded up $0.32 on Friday, hitting $34.33. The stock had a trading volume of 240,800 shares, compared to its average volume of 255,638. Terreno Realty has a 12-month low of $26.30 and a 12-month high of $38.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.87 and a current ratio of 4.87. The stock has a market cap of $1,850.00, a price-to-earnings ratio of 44.58, a PEG ratio of 2.80 and a beta of 0.79.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.56%. Terreno Realty’s dividend payout ratio (DPR) is 114.29%.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Terreno Realty by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,681,296 shares of the real estate investment trust’s stock worth $191,233,000 after acquiring an additional 180,987 shares during the last quarter. BlackRock Inc. grew its position in Terreno Realty by 32.9% during the 2nd quarter. BlackRock Inc. now owns 5,536,531 shares of the real estate investment trust’s stock worth $186,359,000 after purchasing an additional 1,370,672 shares during the period. Schroder Investment Management Group grew its position in Terreno Realty by 2.6% during the 3rd quarter. Schroder Investment Management Group now owns 1,508,819 shares of the real estate investment trust’s stock worth $54,484,000 after purchasing an additional 38,724 shares during the period. Uniplan Investment Counsel Inc. grew its position in Terreno Realty by 2.1% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 1,291,133 shares of the real estate investment trust’s stock worth $46,713,000 after purchasing an additional 27,081 shares during the period. Finally, State Street Corp grew its position in Terreno Realty by 9.4% during the 2nd quarter. State Street Corp now owns 1,103,584 shares of the real estate investment trust’s stock worth $37,145,000 after purchasing an additional 94,751 shares during the period. Institutional investors own 98.74% of the company’s stock.
About Terreno Realty
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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