Terreno Realty Corporation (NYSE:TRNO) Receives $69.50 Consensus Price Target from Analysts

Terreno Realty Corporation (NYSE:TRNO) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $69.5714.

Several research analysts recently weighed in on TRNO shares. KeyCorp boosted their price target on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Cantor Fitzgerald boosted their price target on shares of Terreno Realty from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. iA Financial set a $75.00 price target on shares of Terreno Realty in a report on Friday, February 6th. Citigroup boosted their price target on shares of Terreno Realty from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, Citizens Jmp boosted their target price on shares of Terreno Realty from $66.00 to $70.00 and gave the company a “market outperform” rating in a research note on Friday, February 6th.

Terreno Realty Stock Down 0.0%

Terreno Realty stock opened at $66.03 on Tuesday. Terreno Realty has a fifty-two week low of $53.00 and a fifty-two week high of $67.55. The stock has a market cap of $7.02 billion, a PE ratio of 16.14 and a beta of 1.06. The firm’s 50-day simple moving average is $64.37 and its 200 day simple moving average is $62.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results 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. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. The business had revenue of $124.44 million for the quarter, compared to analysts’ expectations of $122.60 million. Research analysts predict that Terreno Realty will post 2.79 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, June 26th. Terreno Realty’s payout ratio is presently 50.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRNO. Principal Financial Group Inc. boosted its stake in Terreno Realty by 246.6% in the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock valued at $257,257,000 after acquiring an additional 2,979,982 shares during the last quarter. Norges Bank purchased a new position in Terreno Realty in the fourth quarter valued at about $168,221,000. Janus Henderson Group PLC boosted its stake in Terreno Realty by 1,252.5% in the first quarter. Janus Henderson Group PLC now owns 642,749 shares of the real estate investment trust’s stock valued at $39,487,000 after acquiring an additional 595,225 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Terreno Realty by 529.3% in the fourth 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. Finally, UBS Group AG boosted its stake in Terreno Realty by 108.1% in the third quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock valued at $34,044,000 after acquiring an additional 311,559 shares during the last quarter.

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.