Terreno Realty Corporation (NYSE:TRNO) Stock Has Consensus Price Target of $73.50

Key Points

• Analysts are moderately bullish on Terreno Realty: 11 of 15 covering analysts rate the stock Buy or Strong Buy, and the average 12-month price target is $73.50.
• Terreno reported quarterly EPS of $0.62, beating the $0.45 consensus estimate, and revenue of $132.23 million, above forecasts of $128.72 million.
• The REIT announced a quarterly dividend of $0.57 per share, equivalent to $2.28 annually and a 3.4% yield.

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) has received an average recommendation of "Moderate Buy" from the fifteen analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $73.50.

A number of analysts have weighed in on the stock. Scotiabank increased their target price on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Wells Fargo & Company raised their price target on shares of Terreno Realty from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 1st. Citigroup reaffirmed a "market outperform" rating on shares of Terreno Realty in a report on Wednesday, October 7th. UBS Group set a $74.00 price objective on shares of Terreno Realty in a research report on Monday, September 21st. Finally, Mizuho boosted their price objective on shares of Terreno Realty from $56.00 to $60.00 and gave the company an "underperform" rating in a research report on Wednesday, August 19th.

Terreno Realty Price Performance

Shares of TRNO opened at $67.33 on Tuesday. Terreno Realty has a 52 week low of $57.95 and a 52 week high of $78.94. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 20.10 and a beta of 0.98. The stock has a 50 day moving average of $65.52 and a 200-day moving average of $65.92.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17. Terreno Realty had a return on equity of 8.23% and a net margin of 68.05%. The business had revenue of $132.23 million for the quarter, compared to analyst estimates of $128.72 million. As a group, analysts forecast that Terreno Realty will post 2.83 EPS for the current year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Tuesday, December 15th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, December 15th. Terreno Realty's payout ratio is presently 68.06%.

Institutional Trading of Terreno Realty

A number of institutional investors and hedge funds have recently made changes to their positions in TRNO. Bessemer Group Inc. lifted its holdings in shares of Terreno Realty by 2.2% in the 3rd quarter. Bessemer Group Inc. now owns 704,440 shares of the real estate investment trust's stock worth $45,471,000 after purchasing an additional 15,226 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Terreno Realty by 6.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,139 shares of the real estate investment trust's stock worth $267,000 after buying an additional 265 shares during the last quarter. Virtus Advisers LLC bought a new position in Terreno Realty during the 3rd quarter worth $795,000. Aberdeen Group plc increased its position in Terreno Realty by 453.6% in the third quarter. Aberdeen Group plc now owns 234,611 shares of the real estate investment trust's stock worth $15,144,000 after buying an additional 192,230 shares during the period. Finally, Allworth Financial LP increased its position in Terreno Realty by 2.0% in the third quarter. Allworth Financial LP now owns 10,380 shares of the real estate investment trust's stock worth $672,000 after buying an additional 204 shares during the period.

About Terreno Realty

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties. Its portfolio includes warehouses and distribution facilities, as well as other properties used for activities such as transportation, logistics, and light manufacturing.

The company focuses on major coastal U.S. markets, including New York City, Northern New Jersey, Los Angeles, the San Francisco Bay Area, Seattle, and Miami. In addition to acquiring and leasing properties, Terreno pursues redevelopment and improvement projects to support its tenants' industrial and distribution needs.

Terreno Realty was founded in 2009.

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