Analysts Set Terreno Realty Corporation (NYSE:TRNO) Target Price at $63.70

Shares of Terreno Realty Corporation (NYSE:TRNO) have been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $63.70.

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Terreno Realty in a research report on Wednesday. Piper Sandler boosted their target price on Terreno Realty from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, September 18th. Wells Fargo & Company dropped their target price on Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. KeyCorp decreased their price target on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, August 21st. Finally, Barclays boosted their price target on Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 15th.

Insider Buying and Selling

In related news, President Michael A. Coke sold 10,000 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $53.96, for a total transaction of $539,600.00. Following the completion of the sale, the president owned 412,415 shares in the company, valued at approximately $22,253,913.40. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Terreno Realty

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in Terreno Realty by 4.0% in the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock worth $336,139,000 after buying an additional 230,444 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Terreno Realty by 2.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust’s stock worth $333,261,000 after acquiring an additional 125,940 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Terreno Realty by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock worth $262,918,000 after acquiring an additional 523,950 shares during the period. Norges Bank bought a new position in shares of Terreno Realty in the second quarter worth about $156,525,000. Finally, Geode Capital Management LLC boosted its stake in shares of Terreno Realty by 3.6% in the second quarter. Geode Capital Management LLC now owns 2,631,838 shares of the real estate investment trust’s stock worth $147,584,000 after acquiring an additional 92,519 shares during the period.

Terreno Realty Price Performance

TRNO opened at $55.94 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. Terreno Realty has a 52-week low of $48.18 and a 52-week high of $69.20. The stock has a market capitalization of $5.78 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 2.46 and a beta of 1.04. The stock’s 50 day moving average price is $56.90 and its 200-day moving average price is $57.14.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 29th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 29th. Terreno Realty’s dividend payout ratio (DPR) is currently 82.54%.

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.