Terreno Realty (NYSE:TRNO) Share Price Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Terreno Realty shares rose above their 200-day moving average, reaching $66.82 and last trading near $66.66. Analysts maintain a “Moderate Buy” consensus, with an average price target of $73.71.
• The REIT exceeded quarterly EPS expectations, reporting $0.54 versus the $0.41 consensus, although revenue of $124.71 million fell short of estimates.
• Terreno increased its quarterly dividend to $0.57 per share, or $2.28 annually, representing a 3.4% yield; recent insider activity included share sales by two executives.

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $66.42 and traded as high as $66.82. Terreno Realty shares last traded at $66.6550, with a volume of 912,792 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on TRNO. Cantor Fitzgerald lifted their target price on Terreno Realty from $75.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Citigroup upped their target price on shares of Terreno Realty from $70.00 to $73.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Barclays increased their target price on Terreno Realty from $60.00 to $69.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. BMO Capital Markets restated a "market perform" rating on shares of Terreno Realty in a report on Monday, September 21st. Finally, UBS Group set a $74.00 price objective on shares of Terreno Realty in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.71.

Terreno Realty Stock Performance

The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $68.16 and a 200-day moving average of $66.42. The firm has a market capitalization of $7.26 billion, a P/E ratio of 17.87 and a beta of 1.02.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. The company had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. On average, research analysts anticipate that Terreno Realty Corporation will post 2.83 EPS for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.4%. This is a boost from Terreno Realty's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty's payout ratio is currently 55.76%.

Insider Buying and Selling

In other 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 transaction of $547,040.00. Following the transaction, the president directly owned 425,381 shares in the company, valued at $29,087,552.78. The trade was a 1.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Meyer sold 4,447 shares of Terreno Realty stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the transaction, the executive vice president owned 131,825 shares of the company's stock, valued at $9,048,468. The trade was a 3.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently added to or reduced their stakes in TRNO. Sequoia Financial Advisors LLC acquired a new stake in shares of Terreno Realty during the 2nd quarter worth about $243,000. Tidal Investments LLC boosted its position in shares of Terreno Realty by 28.4% in the second quarter. Tidal Investments LLC now owns 170,058 shares of the real estate investment trust's stock valued at $11,015,000 after acquiring an additional 37,616 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Terreno Realty in the 2nd quarter worth about $30,000. Allworth Financial LP grew its position in shares of Terreno Realty by 5.1% during the 2nd quarter. Allworth Financial LP now owns 10,176 shares of the real estate investment trust's stock worth $659,000 after purchasing an additional 495 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Terreno Realty by 3.2% during the second quarter. Arizona State Retirement System now owns 29,319 shares of the real estate investment trust's stock worth $1,899,000 after purchasing an additional 915 shares during the period.

Terreno Realty Company Profile

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. The company focuses primarily on functional, well-located properties that support distribution, transportation, and other industrial activities.

Terreno's portfolio includes warehouses, distribution facilities, transshipment buildings, and industrial properties that may offer outdoor storage or other specialized features. Its strategy emphasizes infill locations with access to population centers, transportation infrastructure, ports, airports, and other important logistics networks.

The company serves six key coastal markets: Los Angeles, Northern New Jersey and New York City, the San Francisco Bay Area, Seattle, Miami, and Washington, DC Terreno Realty was founded in 2009 and became a publicly traded company in 2010.

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