Terreno Realty (NYSE:TRNO) Announces Earnings Results, Beats Estimates By $0.17 EPS

Key Points

• Terreno Realty reported quarterly EPS of $0.62, beating the $0.45 consensus estimate by $0.17; revenue of $132.23 million also topped estimates of $128.72 million.
• Shares rose $1.35 to $68.01 on Wednesday. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $73.50.
• Two executives disclosed stock sales: President Michael A. Coke sold 8,000 shares and EVP John Meyer sold 4,447 shares, while retaining substantial holdings.

Terreno Realty (NYSE:TRNO - Get Free Report) released its earnings results on Wednesday. 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, FiscalAI reports. The business had revenue of $132.23 million for the quarter, compared to analyst estimates of $128.72 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%.

Terreno Realty Stock Performance

Shares of TRNO traded up $1.35 on Wednesday, reaching $68.01. 818,389 shares of the company's stock traded hands, compared to its average volume of 754,520. The stock's 50 day simple moving average is $65.54 and its two-hundred day simple moving average is $65.81. The stock has a market cap of $7.41 billion, a PE ratio of 18.23 and a beta of 0.98. Terreno Realty has a 52-week low of $57.71 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.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on TRNO shares. UBS Group set a $74.00 price objective on shares of Terreno Realty in a report on Monday, September 21st. Weiss Ratings lowered Terreno Realty from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, September 3rd. Royal Bank Of Canada set a $73.00 price target on Terreno Realty in a report on Wednesday, October 7th. KeyCorp boosted their price objective on Terreno Realty from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Finally, Citigroup reiterated a "market outperform" rating on shares of Terreno Realty in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.50.

Terreno Realty Company Profile

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno's portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.

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