Q3 2024 Earnings Forecast for Terreno Realty Co. Issued By Wedbush (NYSE:TRNO)

Terreno Realty Co. (NYSE:TRNO - Free Report) - Stock analysts at Wedbush reduced their Q3 2024 earnings per share estimates for Terreno Realty in a report issued on Tuesday, May 14th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $0.63 per share for the quarter, down from their prior estimate of $0.64. Wedbush has a "Neutral" rating and a $57.00 price objective on the stock. The consensus estimate for Terreno Realty's current full-year earnings is $2.42 per share. Wedbush also issued estimates for Terreno Realty's FY2024 earnings at $2.44 EPS and FY2025 earnings at $2.65 EPS.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Terreno Realty from $68.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday. Piper Sandler lifted their price target on Terreno Realty from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, March 22nd. Scotiabank dropped their price objective on Terreno Realty from $66.00 to $59.00 and set a "sector perform" rating on the stock in a research note on Thursday. StockNews.com downgraded Terreno Realty from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, JMP Securities restated a "market outperform" rating and issued a $65.00 price target on shares of Terreno Realty in a research note on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $64.56.

Terreno Realty Stock Up 2.2 %

Shares of NYSE TRNO traded up $1.27 during midday trading on Thursday, reaching $57.90. The company's stock had a trading volume of 1,653,873 shares, compared to its average volume of 715,147. The company has a current ratio of 10.17, a quick ratio of 10.17 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $59.85 and a 200-day simple moving average of $60.10. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.53 and a beta of 0.85. Terreno Realty has a fifty-two week low of $50.42 and a fifty-two week high of $66.63.

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, June 28th. Terreno Realty's payout ratio is 93.75%.

Institutional Trading of Terreno Realty

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Terreno Realty by 7.6% during the first quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust's stock worth $861,988,000 after purchasing an additional 919,851 shares during the period. Norges Bank acquired a new stake in shares of Terreno Realty during the 4th quarter worth approximately $54,302,000. Principal Financial Group Inc. boosted its position in shares of Terreno Realty by 16.4% during the 1st quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust's stock worth $342,322,000 after acquiring an additional 727,995 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in Terreno Realty by 91,086.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 713,076 shares of the real estate investment trust's stock valued at $44,688,000 after acquiring an additional 712,294 shares during the last quarter. Finally, FMR LLC raised its position in Terreno Realty by 10.3% during the third quarter. FMR LLC now owns 5,260,376 shares of the real estate investment trust's stock valued at $298,789,000 after purchasing an additional 493,182 shares in the last quarter.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.