Terreno Realty (NYSE:TRNO) Raised to “Hold” at Wolfe Research

Wolfe Research upgraded shares of Terreno Realty (NYSE:TRNO) to a hold rating in a research report sent to investors on Sunday, Zacks.com reports.

TRNO has been the subject of several other reports. Wells Fargo & Company downgraded Terreno Realty from an overweight rating to an equal weight rating and upped their price objective for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. JMP Securities raised their price objective 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. Wedbush reaffirmed a neutral rating and issued a $70.00 target price (up previously from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. Mizuho reissued an underperform rating and issued a $62.00 price objective on shares of Terreno Realty in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group lifted their price target on Terreno Realty from $60.00 to $68.00 and gave the company a neutral rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $69.56.

Terreno Realty Trading Down 0.7 %

Shares of TRNO stock opened at $68.75 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. Terreno Realty has a fifty-two week low of $50.42 and a fifty-two week high of $71.63. The stock has a market capitalization of $6.66 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 3.18 and a beta of 0.90. The company has a 50 day moving average price of $68.28 and a 200 day moving average price of $62.41.

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

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.85%. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio is presently 93.75%.

Insider Activity at Terreno Realty

In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following the transaction, the chief financial officer now owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the transaction, the executive vice president now owns 110,988 shares in the company, valued at $7,618,216.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, 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. Over the last three months, 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

A number of institutional investors and hedge funds have recently bought and sold shares of TRNO. Mather Group LLC. acquired a new position in shares of Terreno Realty during the first quarter valued at $31,000. Whittier Trust Co. boosted its holdings in Terreno Realty by 123.4% during the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 337 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Terreno Realty in the second quarter valued at approximately $48,000. EntryPoint Capital LLC raised its stake in Terreno Realty by 80.3% during the 1st quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 419 shares during the period. Finally, CWM LLC increased its stake in Terreno Realty by 58.2% during the 2nd quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 438 shares in the last quarter.

Terreno Realty Company Profile

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.