Terreno Realty Co. (NYSE:TRNO) Receives $67.50 Average Price Target from Analysts

Terreno Realty Co. (NYSE:TRNO) has been given a consensus recommendation of “Hold” by the eleven research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $67.50.

TRNO has been the topic of several analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a report on Monday, January 6th. Scotiabank lowered their price objective on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Barclays restated an “equal weight” rating and set a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Finally, StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TRNO. Peregrine Capital Management LLC acquired a new position in shares of Terreno Realty during the 4th quarter worth $6,203,000. CIBC Asset Management Inc acquired a new position in shares of Terreno Realty in the 4th quarter valued at about $366,000. Congress Asset Management Co. lifted its stake in shares of Terreno Realty by 72.0% in the 4th quarter. Congress Asset Management Co. now owns 449,093 shares of the real estate investment trust’s stock worth $26,559,000 after acquiring an additional 188,060 shares during the period. Manchester Capital Management LLC purchased a new position in Terreno Realty in the 4th quarter worth about $27,000. Finally, Rhumbline Advisers boosted its stake in shares of Terreno Realty by 70.5% during the 4th quarter. Rhumbline Advisers now owns 342,345 shares of the real estate investment trust’s stock valued at $20,246,000 after buying an additional 141,612 shares during the period.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $65.43 on Wednesday. The firm has a market cap of $6.53 billion, a PE ratio of 35.95, a price-to-earnings-growth ratio of 2.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71. Terreno Realty has a 52 week low of $53.78 and a 52 week high of $71.63. The firm’s fifty day moving average is $60.99 and its 200-day moving average is $64.10.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. The company had revenue of $99.64 million during the quarter, compared to analysts’ expectations of $96.31 million. Sell-side analysts predict that Terreno Realty will post 2.42 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.00%. Terreno Realty’s dividend payout ratio is presently 107.69%.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.