Terreno Realty Corporation (NYSE:TRNO) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Terreno Realty has a “Moderate Buy” consensus rating among 13 analysts, with seven buys, one strong buy, three holds, and two sells. The average 12-month price target is $73.29, above the reported share price of $65.75.
• The REIT exceeded quarterly earnings expectations, reporting $0.54 EPS versus the $0.41 consensus, though revenue of $124.71 million came in below estimates. Analysts expect full-year EPS of approximately $2.83.
• Terreno Realty raised its quarterly dividend from $0.52 to $0.57 per share, representing a $2.28 annualized payout and a 3.5% yield. Several major institutional investors, including BlackRock and Principal Financial Group, also increased or initiated positions.

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $73.2857.

A number of equities research analysts have weighed in on TRNO shares. Scotiabank boosted their target price on shares of Terreno Realty from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Wells Fargo & Company lifted their price objective on Terreno Realty from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 1st. UBS Group set a $68.00 price objective on Terreno Realty in a research report on Thursday, June 18th. Cantor Fitzgerald increased their target price on Terreno Realty from $75.00 to $77.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Finally, Barclays raised their target price on Terreno Realty from $60.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th.

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $65.75 on Monday. The firm's 50-day moving average price is $68.94 and its 200-day moving average price is $66.31. Terreno Realty has a 52-week low of $55.92 and a 52-week high of $78.94. The company has a market cap of $7.16 billion, a PE ratio of 17.63 and a beta of 1.02. 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 (NYSE:TRNO - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. The firm had revenue of $124.71 million during the quarter, compared to analysts' expectations of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. As a group, analysts anticipate that Terreno Realty will post 2.83 EPS for the current year.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.5%. This is a positive change from Terreno Realty's previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. Terreno Realty's dividend payout ratio (DPR) is presently 55.76%.

Insider Buying and Selling

In other Terreno Realty news, EVP John Meyer sold 4,447 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 131,825 shares of the company's stock, valued at approximately $9,048,468. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael Coke sold 8,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the transaction, the president owned 425,381 shares in the company, valued at $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Terreno Realty

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Terreno Realty during the 2nd quarter valued at approximately $1,213,726,000. Principal Financial Group Inc. raised its stake in Terreno Realty by 246.6% during the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust's stock worth $257,257,000 after acquiring an additional 2,979,982 shares during the period. Norges Bank purchased a new position in Terreno Realty during the fourth quarter valued at approximately $168,221,000. Legal & General Group Plc bought a new position in shares of Terreno Realty in the second quarter worth approximately $61,764,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Terreno Realty in the second quarter worth $53,869,000.

About Terreno Realty

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. The company focuses primarily on functional, well-located properties that support distribution, transportation, and other industrial activities.

Terreno's portfolio includes warehouses, distribution facilities, transshipment buildings, and industrial properties that may offer outdoor storage or other specialized features. Its strategy emphasizes infill locations with access to population centers, transportation infrastructure, ports, airports, and other important logistics networks.

The company serves six key coastal markets: Los Angeles, Northern New Jersey and New York City, the San Francisco Bay Area, Seattle, Miami, and Washington, DC Terreno Realty was founded in 2009 and became a publicly traded company in 2010.

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