Terreno Realty Co. (NYSE:TRNO) Receives $69.56 Average PT from Analysts

Shares of Terreno Realty Co. (NYSE:TRNO) have received an average rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $69.56.

TRNO has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Wells Fargo & Company cut Terreno Realty from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $71.00 to $75.00 in a research note on Wednesday, August 28th. JMP Securities increased their price target 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. StockNews.com cut Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Mizuho reiterated an “underperform” rating and issued a $62.00 price target on shares of Terreno Realty in a research note on Thursday, September 5th.

Insider Activity

In other news, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Michael A. Coke sold 7,500 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.53, for a total transaction of $513,975.00. Following the sale, the president now directly owns 402,164 shares of the company’s stock, valued at $27,560,298.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the sale, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. This trade represents a 0.00 % decrease in their ownership of the stock. 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. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Terreno Realty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans grew its holdings in Terreno Realty by 238.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,327,932 shares of the real estate investment trust’s stock valued at $78,587,000 after purchasing an additional 935,418 shares during the period. Vanguard Group Inc. grew its holdings in Terreno Realty by 7.6% in the first quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock valued at $861,988,000 after purchasing an additional 919,851 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Terreno Realty in the second quarter valued at approximately $39,064,000. Price T Rowe Associates Inc. MD grew its holdings in Terreno Realty by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust’s stock valued at $276,381,000 after purchasing an additional 291,051 shares during the period. Finally, American Century Companies Inc. grew its holdings in Terreno Realty by 7.3% in the second quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock valued at $127,287,000 after purchasing an additional 146,808 shares during the period.

Terreno Realty Price Performance

Shares of TRNO stock opened at $63.62 on Monday. Terreno Realty has a twelve month low of $50.42 and a twelve month high of $71.63. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 2.97 and a beta of 0.90. The stock has a fifty day simple moving average of $67.18 and a two-hundred day simple moving average of $62.56. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data 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). The company had revenue of $94.25 million for the quarter, compared to analysts’ expectations of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. On average, analysts predict that Terreno Realty will post 2.41 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.49 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.08%. Terreno Realty’s dividend payout ratio is currently 108.29%.

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.