Terreno Realty (NYSE:TRNO) Stock Gets Price Target Cut from Robert W. Baird

Terreno Realty (NYSE:TRNO) had its price target decreased by Robert W. Baird from $70.00 to $69.00 in a research note issued to investors on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

Several other research firms have also recently issued reports on TRNO. Scotiabank boosted their target price on Terreno Realty from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. KeyCorp raised their price target on Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Barclays lifted their price target on Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. UBS Group set a $74.00 price objective on Terreno Realty in a report on Monday, September 21st. Finally, Cantor Fitzgerald upped their price objective on Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.88.

Terreno Realty Stock Performance

Shares of NYSE:TRNO traded up $0.48 during midday trading on Thursday, hitting $67.01. The stock had a trading volume of 782,917 shares, compared to its average volume of 791,208. The company has a market capitalization of $7.39 billion, a PE ratio of 20.00 and a beta of 0.98. The stock has a 50 day moving average price of $65.60 and a two-hundred day moving average price of $66.02. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.21. Terreno Realty has a 1 year low of $57.95 and a 1 year high of $78.94.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.17. The firm had revenue of $132.23 million during the quarter, compared to analysts’ expectations of $128.72 million. Terreno Realty had a net margin of 68.05% and a return on equity of 8.10%. As a group, equities analysts predict that Terreno Realty will post 2.83 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 8th. Investors of record on Tuesday, December 15th will be given a $0.57 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $2.28 annualized dividend and a dividend yield of 3.4%. Terreno Realty’s payout ratio is currently 68.06%.

Hedge Funds Weigh In On Terreno Realty

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in Terreno Realty by 606.2% during the third quarter. Empowered Funds LLC now owns 27,063 shares of the real estate investment trust’s stock worth $1,747,000 after acquiring an additional 23,231 shares during the last quarter. GSI Capital Advisors LLC lifted its holdings in shares of Terreno Realty by 77.9% in the third quarter. GSI Capital Advisors LLC now owns 177,430 shares of the real estate investment trust’s stock valued at $11,453,000 after purchasing an additional 77,674 shares in the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of Terreno Realty by 2.5% in the third quarter. Resona Asset Management Co. Ltd. now owns 47,869 shares of the real estate investment trust’s stock valued at $3,165,000 after purchasing an additional 1,165 shares during the last quarter. Westpac Banking Corp grew its position in shares of Terreno Realty by 40.7% in the third quarter. Westpac Banking Corp now owns 18,292 shares of the real estate investment trust’s stock valued at $1,181,000 after purchasing an additional 5,292 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in shares of Terreno Realty by 1.0% in the third quarter. Voya Investment Management LLC now owns 23,702 shares of the real estate investment trust’s stock valued at $1,530,000 after purchasing an additional 238 shares during the last quarter.

About Terreno Realty

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties. Its portfolio includes warehouses and distribution facilities, as well as other properties used for activities such as transportation, logistics, and light manufacturing. The company focuses on major coastal U.S. markets, including New York City, Northern New Jersey, Los Angeles, the San Francisco Bay Area, Seattle, and Miami. In addition to acquiring and leasing properties, Terreno pursues redevelopment and improvement projects to support its tenants’ industrial and distribution needs.