Terreno Realty (NYSE:TRNO) Sets New 1-Year High – Still a Buy?

Terreno Realty Corporation (NYSE:TRNO) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $67.83 and last traded at $67.5750, with a volume of 134719 shares changing hands. The stock had previously closed at $67.33.

Analyst Upgrades and Downgrades

A number of research firms have commented on TRNO. Robert W. Baird set a $69.00 price target on shares of Terreno Realty in a research report on Friday, May 8th. Wells Fargo & Company lowered their price objective on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Raymond James Financial began coverage on Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, UBS Group set a $68.00 price target on Terreno Realty in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Terreno Realty has an average rating of “Moderate Buy” and a consensus price target of $69.21.

Terreno Realty Price Performance

The firm has a market capitalization of $7.20 billion, a P/E ratio of 16.55 and a beta of 1.05. The business’s fifty day moving average is $65.64 and its 200 day moving average is $63.77. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.36. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. The firm had revenue of $124.44 million for the quarter, compared to analyst estimates of $122.60 million. As a group, analysts forecast that Terreno Realty Corporation will post 2.8 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, June 26th. Terreno Realty’s dividend payout ratio is currently 50.86%.

Hedge Funds Weigh In On Terreno Realty

A number of institutional investors have recently bought and sold shares of TRNO. EverSource Wealth Advisors LLC raised its holdings in 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 worth $25,000 after buying an additional 189 shares during the period. Wiser Advisor Group LLC acquired a new position in shares of Terreno Realty in the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd increased its position in shares of Terreno Realty by 52.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 172 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 350 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Terreno Realty during the fourth quarter valued at approximately $30,000.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.