Wedbush Brokers Boost Earnings Estimates for Terreno Realty

Terreno Realty Co. (NYSE:TRNO) – Stock analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for Terreno Realty in a note issued to investors on Monday, November 11th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings per share of $2.43 for the year, up from their previous forecast of $2.41. Wedbush has a “Neutral” rating and a $70.00 price objective on the stock. The consensus estimate for Terreno Realty’s current full-year earnings is $2.41 per share. Wedbush also issued estimates for Terreno Realty’s Q4 2024 earnings at $0.63 EPS.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.24). Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. The firm had revenue of $99.64 million during the quarter, compared to the consensus estimate of $96.31 million.

Several other analysts also recently weighed in on TRNO. 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. Scotiabank reduced their price objective on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. Mizuho reissued an “underperform” rating and set a $62.00 target price on shares of Terreno Realty in a research note on Thursday, September 5th. The Goldman Sachs Group upped their price target on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Barclays lowered their price objective on shares of Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Terreno Realty presently has a consensus rating of “Hold” and a consensus target price of $69.22.

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $60.85 on Wednesday. Terreno Realty has a 12-month low of $53.78 and a 12-month high of $71.63. The company has a market cap of $6.07 billion, a PE ratio of 33.43, a P/E/G ratio of 2.81 and a beta of 0.90. The stock has a 50 day simple moving average of $64.86 and a 200-day simple moving average of $62.88. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20.

Institutional Investors Weigh In On Terreno Realty

Large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Terreno Realty during the third quarter worth $26,000. Assetmark Inc. raised its holdings in Terreno Realty by 2,381.3% during the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 381 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Terreno Realty during the second quarter valued at about $48,000. EntryPoint Capital LLC boosted its holdings in shares of Terreno Realty by 80.3% in the first 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, International Assets Investment Management LLC increased its position in shares of Terreno Realty by 6,580.0% in the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 987 shares in the last quarter.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.22%. Terreno Realty’s dividend payout ratio is currently 107.69%.

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.