Terreno Realty Corporation (NYSE:TRNO) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on Terreno Realty, with seven buy ratings, one strong buy, three holds and two sells. The average 12-month price target is $72.86, above the reported share price of $67.57.
• Terreno Realty beat quarterly EPS expectations, reporting $0.54 versus the $0.41 consensus, although revenue of $124.71 million fell short of estimates. The stock was down 1.2% and remains below its 52-week high of $78.94.
• The company increased its quarterly dividend from $0.52 to $0.57 per share, equivalent to an annualized $2.28 payout and a 3.4% yield. Two executives also recently sold shares, while insiders collectively own 1.9% of the company.

Shares of Terreno Realty Corporation (NYSE:TRNO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $72.8571.

Several equities analysts have issued reports on TRNO shares. Cantor Fitzgerald boosted their target price on Terreno Realty from $75.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, August 17th. Piper Sandler raised their price target on Terreno Realty from $79.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Mizuho lifted their price target on Terreno Realty from $56.00 to $60.00 and gave the company an "underperform" rating in a research note on Wednesday, August 19th. The Goldman Sachs Group upped their price objective on Terreno Realty from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, KeyCorp increased their price objective on Terreno Realty from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th.

Insider Transactions at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 8,000 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the transaction, the president directly owned 425,381 shares in the company, valued at approximately $29,087,552.78. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John Tull Meyer sold 4,447 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the completion of the transaction, the executive vice president directly owned 131,825 shares of the company's stock, valued at approximately $9,048,468. This trade represents a 3.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 189 shares during the last quarter. Wiser Advisor Group LLC acquired a new stake in Terreno Realty in the third quarter valued at $25,000. Clearstead Trust LLC purchased a new position in shares of Terreno Realty in the second quarter valued at $28,000. Caitong International Asset Management Co. Ltd increased its position in shares of Terreno Realty by 52.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 172 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 350 shares in the last quarter.

Terreno Realty Stock Down 1.2%

Shares of NYSE:TRNO opened at $67.57 on Thursday. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 18.12 and a beta of 1.03. The firm's 50-day simple moving average is $69.16 and its 200-day simple moving average is $66.31. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. Terreno Realty has a fifty-two week low of $55.71 and a fifty-two week high of $78.94.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. The business had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. As a group, equities research analysts predict that Terreno Realty will post 2.82 earnings per share for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.57 per share. This is a boost from Terreno Realty's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.4%. Terreno Realty's dividend payout ratio is currently 55.76%.

About Terreno Realty

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

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