StockNews.com Lowers Terreno Realty (NYSE:TRNO) to Sell

StockNews.com lowered shares of Terreno Realty (NYSE:TRNO) from a hold rating to a sell rating in a research report report published on Friday morning.

TRNO has been the subject of several other reports. Wolfe Research upgraded Terreno Realty to a hold rating in a report on Sunday, September 22nd. The Goldman Sachs Group raised their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a neutral rating in a report on Monday, August 12th. Scotiabank lifted 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 note on Monday, August 26th. Mizuho reissued an underperform rating and set a $62.00 price objective on shares of Terreno Realty in a research report on Thursday, September 5th. Finally, Wedbush reaffirmed a neutral rating and issued a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Two 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $69.56.

Terreno Realty Stock Up 1.2 %

Terreno Realty stock opened at $63.30 on Friday. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 2.88 and a beta of 0.90. The company’s 50 day simple moving average is $67.62 and its 200 day simple moving average is $62.56. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. Terreno Realty has a fifty-two week low of $50.42 and a fifty-two week high of $71.63.

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 for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. The firm had revenue of $94.25 million for the quarter, compared to the consensus estimate of $89.07 million. As a group, sell-side analysts anticipate that Terreno Realty will post 2.42 EPS for the current year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a yield of 3.10%. Terreno Realty’s payout ratio is 108.29%.

Insider Activity

In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction dated 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 owns 101,927 shares in the company, valued at approximately $6,970,787.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the firm’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 transaction, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the sale, the executive vice president now directly owns 110,988 shares in the company, valued at $7,618,216.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,643 shares of company stock worth $1,277,581 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Terreno Realty

Hedge funds have recently bought and sold shares of the company. Mather Group LLC. bought a new position in Terreno Realty during the first quarter worth $31,000. Whittier Trust Co. boosted its holdings in shares of Terreno Realty by 123.4% during the 1st 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 period. Ashton Thomas Private Wealth LLC acquired a new position in Terreno Realty in the 2nd quarter valued at about $48,000. EntryPoint Capital LLC raised its holdings in Terreno Realty by 80.3% in the 1st quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 419 shares during the period. Finally, CWM LLC lifted its position in Terreno Realty by 58.2% during the second quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 438 shares during 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.