Terreno Realty (NYSE:TRNO) Price Target Raised to $64.00 at Citigroup

Terreno Realty (NYSE:TRNO) had its price objective upped by Citigroup from $58.00 to $64.00 in a research report released on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terreno Realty in a report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. KeyCorp dropped their price target on shares of Terreno Realty from $70.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, August 21st. Cantor Fitzgerald began coverage on shares of Terreno Realty in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $70.00 price target for the company. Finally, Scotiabank raised shares of Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 price objective for the company in a report on Monday. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.00.

Terreno Realty Trading Up 0.3%

Shares of NYSE TRNO opened at $61.14 on Thursday. The firm’s 50 day moving average price is $58.87 and its 200-day moving average price is $57.53. Terreno Realty has a 52-week low of $48.18 and a 52-week high of $69.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market cap of $6.32 billion, a PE ratio of 24.26, a P/E/G ratio of 2.51 and a beta of 1.07.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, November 5th. 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 the consensus estimate of $114.62 million. Terreno Realty had a net margin of 59.56% and a return on equity of 6.71%. On average, equities research analysts expect that Terreno Realty will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

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

Insider Buying and Selling

In other Terreno Realty news, EVP John Tull Meyer sold 4,758 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $59.95, for a total value of $285,242.10. Following the transaction, the executive vice president directly owned 119,949 shares in the company, valued at approximately $7,190,942.55. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Terreno Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its position in Terreno Realty by 4.0% during the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after purchasing an additional 230,444 shares in the last quarter. T. Rowe Price Investment Management Inc. raised 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 buying an additional 125,940 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Terreno Realty by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock valued at $262,918,000 after buying an additional 523,950 shares in the last quarter. Norges Bank bought a new position in shares of Terreno Realty during the 2nd quarter valued at approximately $156,525,000. Finally, Geode Capital Management LLC increased its holdings in Terreno Realty by 3.6% in the 2nd 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 in the last quarter.

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.