Brokerages Set Terreno Realty Corporation (NYSE:TRNO) Price Target at $69.36

Shares of Terreno Realty Corporation (NYSE:TRNO) have been given an average rating of “Moderate Buy” by the twelve analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $69.3571.

Several research analysts have commented on the stock. Weiss Ratings raised shares of Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 22nd. Piper Sandler boosted their target price on Terreno Realty from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Cantor Fitzgerald increased their price target on Terreno Realty from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Barclays restated a “positive” rating and set a $60.00 price target on shares of Terreno Realty in a report on Tuesday, January 13th. Finally, Royal Bank Of Canada set a $72.00 price objective on Terreno Realty in a research note on Monday, February 9th.

Terreno Realty Price Performance

TRNO stock opened at $62.60 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The company’s fifty day moving average price is $62.90 and its 200-day moving average price is $60.73. Terreno Realty has a one year low of $48.18 and a one year high of $69.20. The company has a market capitalization of $6.52 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 2.49 and a beta of 1.12.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.68. The company had revenue of $137.48 million during the quarter, compared to analysts’ expectations of $124.72 million. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. On average, equities analysts anticipate that Terreno Realty will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. Terreno Realty’s dividend payout ratio (DPR) is 53.33%.

Institutional Investors Weigh In On Terreno Realty

A number of hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Terreno Realty in the 4th quarter worth $168,221,000. Osterweis Capital Management Inc. purchased a new stake in shares of Terreno Realty during the 2nd quarter valued at about $33,699,000. Boston Trust Walden Corp purchased a new stake in shares of Terreno Realty during the 3rd quarter valued at about $26,957,000. Schroder Investment Management Group lifted its holdings in shares of Terreno Realty by 55.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,131,989 shares of the real estate investment trust’s stock valued at $63,471,000 after acquiring an additional 405,015 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Terreno Realty by 529.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 407,497 shares of the real estate investment trust’s stock valued at $23,924,000 after acquiring an additional 342,740 shares during the last quarter.

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.