Terreno Realty (NYSE:TRNO) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Terreno Realty (NYSE:TRNO) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13, FiscalAI reports. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The business had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.17 million.

Terreno Realty Stock Performance

TRNO traded down $1.41 on Thursday, hitting $68.04. 227,198 shares of the stock traded hands, compared to its average volume of 770,066. The business has a fifty day moving average price of $68.25 and a two-hundred day moving average price of $65.66. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $7.23 billion, a PE ratio of 16.61 and a beta of 1.03. Terreno Realty has a 52 week low of $53.00 and a 52 week high of $78.94.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.4%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is 50.86%.

Analyst Ratings Changes

TRNO has been the topic of several recent research reports. Raymond James Financial initiated coverage on shares of Terreno Realty in a research note on Wednesday, June 17th. They issued an “underperform” rating on the stock. The Goldman Sachs Group upped their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Scotiabank reduced their price target on shares of Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 18th. Barclays lifted their price objective on shares of Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Terreno Realty in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised 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 valued at $28,000 after purchasing an additional 172 shares during the period. UMB Bank n.a. raised its position in Terreno Realty by 49.4% during the fourth quarter. UMB Bank n.a. now owns 535 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 177 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of 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 last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Terreno Realty by 15.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 193 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Terreno Realty by 2.8% in the third quarter. Mackenzie Financial Corp now owns 7,072 shares of the real estate investment trust’s stock valued at $401,000 after buying an additional 193 shares during the period.

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.