Terreno Realty Corporation (NYSE:TRNO) Receives Average Recommendation of “Hold” from Brokerages
Shares of Terreno Realty Corporation (NYSE:TRNO) have been given an average recommendation of “Hold” by the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $32.29.
Several research firms recently weighed in on TRNO. Jefferies Group LLC restated a “hold” rating and set a $35.00 target price (up previously from $29.00) on shares of Terreno Realty Corporation in a report on Friday, June 23rd. National Securities lowered shares of Terreno Realty Corporation from a “buy” rating to a “neutral” rating and lifted their target price for the company from $29.00 to $33.00 in a report on Thursday, May 11th. Stifel Nicolaus restated a “buy” rating and set a $34.50 target price on shares of Terreno Realty Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Terreno Realty Corporation from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Finally, BidaskClub lowered shares of Terreno Realty Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th.
Terreno Realty Corporation (TRNO) opened at 34.56 on Friday. The stock’s 50 day moving average price is $33.87 and its 200 day moving average price is $30.67. The firm has a market capitalization of $1.80 billion, a PE ratio of 72.91 and a beta of 0.83. Terreno Realty Corporation has a one year low of $24.81 and a one year high of $35.59.
Terreno Realty Corporation (NYSE:TRNO) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $32.78 million for the quarter, compared to analyst estimates of $31.72 million. Terreno Realty Corporation had a net margin of 20.91% and a return on equity of 3.13%. Analysts expect that Terreno Realty Corporation will post $0.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.88 dividend on an annualized basis and a yield of 2.55%. This is a positive change from Terreno Realty Corporation’s previous quarterly dividend of $0.20.
Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Terreno Realty Corporation by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 684,323 shares of the real estate investment trust’s stock worth $23,034,000 after buying an additional 62,063 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Terreno Realty Corporation by 61.0% in the second quarter. Citadel Advisors LLC now owns 61,701 shares of the real estate investment trust’s stock worth $2,076,000 after buying an additional 23,368 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Terreno Realty Corporation during the second quarter worth approximately $14,854,000. Parametric Portfolio Associates LLC raised its position in shares of Terreno Realty Corporation by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 75,243 shares of the real estate investment trust’s stock worth $2,533,000 after buying an additional 790 shares in the last quarter. Finally, Suntrust Banks Inc. purchased a new position in shares of Terreno Realty Corporation during the second quarter worth approximately $272,000.
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Terreno Realty Corporation Company Profile
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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