Terreno Realty (NYSE:TRNO) Price Target Raised to $62.00

Terreno Realty (NYSE:TRNO - Free Report) had its price objective raised by Mizuho from $52.00 to $62.00 in a research note released on Tuesday, Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust's stock.

Other analysts also recently issued reports about the company. Wells Fargo & Company began coverage on Terreno Realty in a research report on Thursday, December 7th. They issued an overweight rating and a $71.00 target price for the company. StockNews.com raised Terreno Realty from a sell rating to a hold rating in a research report on Saturday, March 23rd. Wedbush reissued a neutral rating and issued a $67.00 target price on shares of Terreno Realty in a research report on Thursday, March 28th. Barclays assumed coverage on Terreno Realty in a research report on Wednesday, March 27th. They issued an overweight rating and a $71.00 price target for the company. Finally, Piper Sandler lifted their price target on Terreno Realty from $70.00 to $73.00 and gave the company an overweight rating in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Terreno Realty presently has an average rating of Hold and a consensus price target of $67.11.

Terreno Realty Stock Performance

Terreno Realty stock traded down $1.29 during mid-day trading on Tuesday, reaching $62.80. 745,289 shares of the company's stock were exchanged, compared to its average volume of 702,409. The business's fifty day simple moving average is $62.96 and its 200 day simple moving average is $59.83. The firm has a market capitalization of $6.06 billion, a PE ratio of 34.70, a P/E/G ratio of 3.06 and a beta of 0.81. Terreno Realty has a one year low of $50.42 and a one year high of $66.63. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.28.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.10. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. The business had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.06 million. On average, sell-side analysts expect that Terreno Realty will post 2.41 earnings per share for the current year.

Terreno Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Thursday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, March 27th. Terreno Realty's dividend payout ratio is 99.45%.

Institutional Investors Weigh In On Terreno Realty

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Terreno Realty by 1.4% during the third quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust's stock valued at $677,009,000 after buying an additional 168,728 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Terreno Realty by 8.4% in the 3rd quarter. Wellington Management Group LLP now owns 598,005 shares of the real estate investment trust's stock worth $33,967,000 after purchasing an additional 46,475 shares in the last quarter. Townsquare Capital LLC increased its position in shares of Terreno Realty by 12.0% during the 3rd quarter. Townsquare Capital LLC now owns 22,073 shares of the real estate investment trust's stock valued at $1,254,000 after purchasing an additional 2,364 shares during the last quarter. Wolverine Asset Management LLC increased its position in shares of Terreno Realty by 63.9% during the 3rd quarter. Wolverine Asset Management LLC now owns 27,224 shares of the real estate investment trust's stock valued at $1,546,000 after purchasing an additional 10,617 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Terreno Realty by 11.1% during the 3rd quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust's stock valued at $233,632,000 after purchasing an additional 411,973 shares during 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.