Terreno Realty (NYSE:TRNO) Upgraded to Hold at Wolfe Research

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

Several other analysts have also recently weighed in on TRNO. Mizuho restated an underperform rating and set a $62.00 price objective on shares of Terreno Realty in a research report on Thursday, September 5th. StockNews.com cut Terreno Realty from a hold rating to a sell rating in a report on Thursday, August 29th. Scotiabank increased their price target on shares of Terreno Realty from $59.00 to $70.00 and gave the company a sector perform rating in a research report on Monday, August 26th. The Goldman Sachs Group increased their price objective on Terreno Realty from $60.00 to $68.00 and gave the company a neutral rating in a research note on Monday, August 12th. Finally, JMP Securities lifted their target price on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a market outperform rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $69.56.

Terreno Realty Price Performance

Terreno Realty stock opened at $68.75 on Friday. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 3.18 and a beta of 0.90. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The business has a 50-day simple moving average of $68.28 and a 200 day simple moving average of $62.41. Terreno Realty has a 52 week low of $50.42 and a 52 week high of $71.63.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. The company had revenue of $94.25 million during the quarter, compared to the consensus estimate of $89.07 million. On average, research analysts forecast that Terreno Realty will post 2.42 earnings per share 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. Shareholders of record on Monday, September 30th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.85%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is currently 93.75%.

Insiders Place Their Bets

In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 value of $341,813.22. Following the sale, the chief financial officer now owns 101,927 shares in the company, valued at $6,970,787.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the sale, the executive vice president now owns 110,988 shares of the company’s stock, valued at $7,618,216.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,643 shares of company stock valued at $1,277,581. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Terreno Realty

A number of large investors have recently made changes to their positions in TRNO. Covestor Ltd grew its position in Terreno Realty by 7.2% during the first quarter. Covestor Ltd now owns 2,950 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 197 shares during the period. Amalgamated Bank raised its position in shares of Terreno Realty by 9.9% during the 2nd quarter. Amalgamated Bank now owns 3,154 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 284 shares during the period. Caprock Group LLC boosted its stake in shares of Terreno Realty by 2.1% in the first quarter. Caprock Group LLC now owns 14,355 shares of the real estate investment trust’s stock worth $960,000 after acquiring an additional 292 shares during the period. Creative Planning raised its stake in Terreno Realty by 7.0% during the 2nd quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 312 shares during the period. Finally, Whittier Trust Co. raised its stake in Terreno Realty by 123.4% during the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 337 shares during the period.

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.