Terreno Realty Corporation (NYSE:TRNO) Receives $67.00 Average Target Price from Analysts

Terreno Realty Corporation (NYSE:TRNO) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $67.25.

A number of brokerages have weighed in on TRNO. Scotiabank raised Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 target price for the company in a research report on Monday, November 10th. Barclays raised their price target on Terreno Realty from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, September 15th. Piper Sandler upgraded Terreno Realty from a “neutral” rating to an “overweight” rating and set a $75.00 price objective for the company in a report on Monday, November 10th. KeyCorp lowered their price objective on shares of 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, Citigroup raised their target price on shares of Terreno Realty from $58.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th.

Insider Buying and Selling

In other Terreno Realty news, EVP John Tull Meyer sold 4,758 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $59.95, for a total transaction of $285,242.10. Following the completion of the sale, the executive vice president owned 119,949 shares in the company, valued at $7,190,942.55. This represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mather Group LLC. purchased a new stake in shares of Terreno Realty during the 3rd quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in Terreno Realty by 73.3% in the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 189 shares in the last quarter. Wiser Advisor Group LLC bought a new position in Terreno Realty in the third quarter worth about $25,000. First Horizon Corp purchased a new stake in shares of Terreno Realty during the third quarter valued at about $26,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 172 shares in the last quarter.

Terreno Realty Trading Up 0.7%

Shares of TRNO opened at $62.97 on Tuesday. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. Terreno Realty has a 1-year low of $48.18 and a 1-year high of $69.20. The company has a 50-day moving average of $59.47 and a 200 day moving average of $57.85.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.34. Terreno Realty had a net margin of 59.56% and a return on equity of 6.71%. The business had revenue of $116.25 million for the quarter, compared to analyst estimates of $114.62 million. On average, research analysts expect that Terreno Realty will post 2.64 EPS for the current 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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, December 15th. Terreno Realty’s dividend payout ratio (DPR) is presently 66.03%.

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.