Terreno Realty (NYSE:TRNO) Stock Breaks Above Fifty Day Moving Average - Here's What Happened

Key Points

• Terreno Realty shares crossed above their 50-day moving average, reaching $65.75 and last trading near $65.69, with a market capitalization of approximately $7.16 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $73.47; targets range from $60 to $75, alongside mixed ratings from buy to sell.
• The REIT reported quarterly EPS of $0.54, exceeding estimates by $0.13, and raised its quarterly dividend from $0.52 to $0.57 per share, equivalent to a 3.5% annualized yield.

Terreno Realty Corporation (NYSE:TRNO - Get Free Report)'s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $65.67 and traded as high as $65.75. Terreno Realty shares last traded at $65.6890, with a volume of 854,611 shares.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TRNO. Barclays boosted their price objective on shares of Terreno Realty from $60.00 to $69.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Weiss Ratings cut shares of Terreno Realty from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, September 3rd. Mizuho raised their target price on shares of Terreno Realty from $56.00 to $60.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 19th. Royal Bank Of Canada set a $73.00 target price on shares of Terreno Realty in a report on Wednesday, October 7th. Finally, KeyCorp boosted their price target on shares of Terreno Realty from $72.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $73.47.

Terreno Realty Stock Performance

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 has a market capitalization of $7.16 billion, a PE ratio of 17.61 and a beta of 1.03. The stock has a 50 day moving average of $65.67 and a two-hundred day moving average of $65.72.

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

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.57 per share. This is an increase from Terreno Realty's previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. This represents a $2.28 annualized dividend and a yield of 3.5%. Terreno Realty's payout ratio is 61.13%.

Insiders Place Their Bets

In related news, President Michael 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 completion of the transaction, the president 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Meyer sold 4,447 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the transaction, the executive vice president directly owned 131,825 shares in the company, valued at $9,048,468. The trade was a 3.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Terreno Realty

Several institutional investors and hedge funds have recently bought and sold shares of TRNO. Clearstead Trust LLC acquired a new position in shares of Terreno Realty in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Terreno Realty by 57.0% during the 1st 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. Integrated Wealth Concepts LLC purchased a new stake in shares of Terreno Realty during the 2nd quarter worth about $30,000. Quantbot Technologies LP purchased a new stake in shares of Terreno Realty during the 2nd quarter worth about $53,000. Finally, GK Wealth Management LLC acquired a new stake in Terreno Realty during the 3rd quarter worth approximately $62,000.

About Terreno Realty

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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