Terreno Realty (NYSE:TRNO) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Terreno Realty (NYSE:TRNO) from a neutral rating to an overweight rating in a research report released on Monday morning, Marketbeat reports. The firm currently has $75.00 price objective on the real estate investment trust’s stock.

Several other research analysts have also issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Terreno Realty in a research report on Wednesday, October 8th. Scotiabank upgraded Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 target price on the stock in a report on Monday. Wells Fargo & Company reduced their target price on Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. The Goldman Sachs Group increased their price target on Terreno Realty from $64.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, UBS Group set a $71.00 price objective on Terreno Realty in a report on Tuesday, October 21st. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.27.

Terreno Realty Price Performance

NYSE:TRNO opened at $61.07 on Monday. Terreno Realty has a 52-week low of $48.18 and a 52-week high of $69.20. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20. The firm has a market cap of $6.31 billion, a P/E ratio of 24.24, a PEG ratio of 2.51 and a beta of 1.07. The business’s 50-day moving average price is $58.80 and its 200 day moving average price is $57.51.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, November 12th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.34. The company had revenue of $116.25 million during the quarter, compared to analyst estimates of $114.62 million. Terreno Realty had a net margin of 59.56% and a return on equity of 6.71%. As a group, sell-side analysts predict that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Monday, December 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, December 15th. Terreno Realty’s dividend payout ratio is currently 66.03%.

Insider Buying and Selling

In other Terreno Realty news, EVP John Tull Meyer sold 4,758 shares of Terreno Realty stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $59.95, for a total transaction of $285,242.10. Following the transaction, the executive vice president owned 119,949 shares of the company’s stock, valued at $7,190,942.55. The trade was a 3.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Trading of Terreno Realty

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. purchased a new position in Terreno Realty during the third quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Terreno Realty by 73.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 189 shares during the period. First Horizon Corp purchased a new position in shares of Terreno Realty during the 3rd quarter valued at $26,000. Geneos Wealth Management Inc. grew its holdings in shares of Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 350 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in shares of Terreno Realty by 140.6% in the second quarter. Osaic Holdings Inc. now owns 611 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 357 shares during the last quarter.

Terreno Realty Company Profile

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.