Terreno Realty (NYSE:TRNO) Receives “Underperform” Rating from Mizuho

Mizuho restated their underperform rating on shares of Terreno Realty (NYSE:TRNO) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Mizuho currently has a $62.00 price target on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the company. StockNews.com downgraded Terreno Realty from a hold rating to a sell rating in a report on Thursday, August 29th. Wells Fargo & Company downgraded Terreno Realty from an overweight rating to an equal weight rating and lifted their target price for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. JMP Securities lifted their target price on Terreno Realty from $65.00 to $72.00 and gave the company a market outperform rating in a research note on Tuesday, August 13th. BNP Paribas started coverage on Terreno Realty in a research note on Tuesday, June 4th. They set an outperform rating and a $68.00 target price on the stock. Finally, Scotiabank lifted their target price on Terreno Realty from $59.00 to $70.00 and gave the company a sector perform rating in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $69.56.

Terreno Realty Trading Down 0.5 %

Shares of NYSE TRNO opened at $68.46 on Thursday. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 3.17 and a beta of 0.90. Terreno Realty has a 12-month low of $50.42 and a 12-month high of $71.63. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The stock’s 50 day simple moving average is $66.54 and its 200 day simple moving average is $61.96.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.17). The company had revenue of $94.25 million during the quarter, compared to the consensus estimate of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. Equities research analysts expect that Terreno Realty will post 2.42 EPS for the current year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s payout ratio is currently 93.75%.

Insider Transactions at Terreno Realty

In other news, President Michael A. Coke sold 7,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the sale, the president now owns 402,164 shares of the company’s stock, valued at approximately $27,560,298.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Michael A. Coke sold 7,500 shares of Terreno Realty stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the transaction, the president now directly owns 402,164 shares in the company, valued at approximately $27,560,298.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jaime Jackson Cannon sold 4,998 shares of Terreno Realty stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the transaction, the chief financial officer now owns 101,927 shares in the company, valued at $6,970,787.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,643 shares of company stock valued at $1,277,581. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Terreno Realty

Hedge funds have recently modified their holdings of the stock. Mather Group LLC. purchased a new position in shares of Terreno Realty during the first quarter valued at $31,000. Whittier Trust Co. grew its holdings in shares of Terreno Realty by 123.4% during the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 337 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Terreno Realty during the second quarter valued at $48,000. EntryPoint Capital LLC grew its holdings in shares of Terreno Realty by 80.3% during the first quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 419 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Terreno Realty by 58.2% during the second quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 438 shares in the last quarter.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.