Terreno Realty Corporation (NYSE:TRNO) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Terreno Realty has a “Moderate Buy” consensus rating from 14 analysts, with an average 12-month price target of $73.47 versus the stock’s reported price of $63.99.
• The REIT exceeded quarterly earnings expectations, reporting $0.54 in EPS versus the $0.41 consensus estimate, although revenue of $124.71 million fell short of expectations.
• Terreno Realty increased its quarterly dividend from $0.52 to $0.57 per share, equivalent to an annualized dividend of $2.28 and a reported yield of 3.6%.

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $73.47.

A number of equities analysts recently commented on TRNO shares. Royal Bank Of Canada set a $73.00 price target on shares of Terreno Realty in a research report on Wednesday, October 7th. The Goldman Sachs Group boosted their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, July 24th. Piper Sandler decreased their target price on shares of Terreno Realty from $91.00 to $85.00 and set an "overweight" rating on the stock in a research report on Monday. UBS Group set a $74.00 target price on shares of Terreno Realty in a report on Monday, September 21st. Finally, Cantor Fitzgerald raised their target price on shares of Terreno Realty from $75.00 to $77.00 and gave the stock an "overweight" rating in a report on Monday, August 17th.

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $63.99 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The stock's fifty day moving average price is $66.32 and its two-hundred day moving average price is $66.68. Terreno Realty has a one year low of $56.09 and a one year high of $78.94. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 17.16 and a beta of 1.03.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. The firm had revenue of $124.71 million for the quarter, compared to analysts' expectations of $127.15 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. On average, equities analysts forecast that Terreno Realty will post 2.84 EPS for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a dividend of $0.57 per share. This is an increase from Terreno Realty's previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Terreno Realty's dividend payout ratio (DPR) is currently 61.13%.

Insider Buying and Selling

In other Terreno Realty news, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction on Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the transaction, the president directly owned 425,381 shares of the company's stock, valued at $29,087,552.78. The trade was a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Meyer sold 4,447 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the sale, the executive vice president owned 131,825 shares of the company's stock, valued at approximately $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TRNO. EverSource Wealth Advisors LLC lifted its position in Terreno Realty by 57.0% during the first quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 159 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Terreno Realty by 0.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 23,863 shares of the real estate investment trust's stock worth $1,466,000 after buying an additional 200 shares in the last quarter. Cim Investment Management Inc. increased its holdings in Terreno Realty by 7.4% in the 2nd quarter. Cim Investment Management Inc. now owns 3,565 shares of the real estate investment trust's stock valued at $231,000 after buying an additional 246 shares during the period. PNC Financial Services Group Inc. increased its holdings in Terreno Realty by 4.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,486 shares of the real estate investment trust's stock valued at $460,000 after buying an additional 320 shares during the period. Finally, Glenmede Trust Co. NA increased its holdings in Terreno Realty by 2.8% in the 1st quarter. Glenmede Trust Co. NA now owns 14,548 shares of the real estate investment trust's stock valued at $894,000 after buying an additional 403 shares during the period.

Terreno Realty Company Profile

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. Its portfolio is focused primarily on functional, well-located properties that support logistics, distribution, warehousing, and other industrial uses.

The company serves metropolitan areas including Los Angeles, the San Francisco Bay Area, Seattle, New York City and Northern New Jersey, Miami, and Washington, DC Its properties generally include warehouse, distribution, flex, and other industrial facilities leased to businesses across a range of industries.

Terreno Realty was founded in 2009 and became a publicly traded company in 2010.

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