Terreno Realty (NYSE:TRNO) Reaches New 1-Year High – Time to Buy?

Shares of Terreno Realty Corporation (NYSE:TRNO) hit a new 52-week high during trading on Monday . The company traded as high as $69.80 and last traded at $69.9290, with a volume of 20170 shares. The stock had previously closed at $69.40.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Robert W. Baird set a $69.00 target price on Terreno Realty in a research note on Friday, May 8th. UBS Group set a $68.00 price target on Terreno Realty in a research note on Thursday, June 18th. Raymond James Financial started coverage on Terreno Realty in a report on Wednesday, June 17th. They issued an “underperform” rating for the company. Scotiabank lowered their price objective on Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 18th. Finally, Wells Fargo & Company lowered their price objective on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Terreno Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.21.

Terreno Realty Stock Up 1.1%

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 17.17 and a beta of 1.05. The firm’s fifty day moving average is $65.92 and its 200-day moving average is $64.05.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.36. The company had revenue of $124.44 million during the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. On average, sell-side analysts predict that Terreno Realty Corporation will post 2.8 earnings per share for the current year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 3.0%. Terreno Realty’s dividend payout ratio (DPR) is presently 50.86%.

Institutional Trading of Terreno Realty

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Terreno Realty by 73.3% during the second 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 in the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Terreno Realty in the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd increased 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 acquiring an additional 172 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Terreno Realty by 304.3% in 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 during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Terreno Realty during the 4th quarter valued at approximately $30,000.

About Terreno Realty

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.