Terreno Realty Corporation (NYSE:TRNO) Given Average Rating of "Hold" by Analysts

Key Points

• Terreno Realty Corporation (NYSE:TRNO) has received an average rating of "Hold" from analysts, with seven analysts recommending a hold and three a buy, as impacted by recent price target adjustments.
• The company recently announced an increase in its quarterly dividend to $0.52 per share, yielding 3.6%, with the ex-dividend date set for September 29th.
• President Michael A. Coke sold 10,000 shares of Terreno Realty at an average price of $53.96, decreasing his ownership position by 2.37% but still retaining over 412,000 shares valued at approximately $22.25 million.

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) has been given an average rating of "Hold" by the ten brokerages that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $62.8889.

A number of research firms have recently weighed in on TRNO. Barclays cut their price target on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 27th. Wells Fargo & Company lowered their target price on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. The Goldman Sachs Group set a $64.00 target price on shares of Terreno Realty and gave the company a "buy" rating in a research note on Tuesday, August 12th. KeyCorp lowered their target price on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th.

Insider Transactions at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the transaction, the president directly owned 412,415 shares in the company, valued at approximately $22,253,913.40. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.40% of the company's stock.

Institutional Trading of Terreno Realty

Several hedge funds and other institutional investors have recently bought and sold shares of TRNO. EverSource Wealth Advisors LLC boosted its position in shares of Terreno Realty by 73.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 189 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 350 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Terreno Realty by 140.6% during the 2nd quarter. Osaic Holdings Inc. now owns 611 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 357 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Terreno Realty by 90.2% during the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 378 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Terreno Realty by 26.5% during the 2nd quarter. CWM LLC now owns 1,171 shares of the real estate investment trust's stock valued at $66,000 after acquiring an additional 245 shares in the last quarter.

Terreno Realty Stock Down 0.7%

Terreno Realty stock opened at $57.32 on Thursday. The company has a market capitalization of $5.92 billion, a P/E ratio of 22.75, a P/E/G ratio of 2.46 and a beta of 1.06. The firm's fifty day simple moving average is $56.40 and its 200-day simple moving average is $58.46. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. Terreno Realty has a 1-year low of $48.18 and a 1-year high of $70.10.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, September 29th. This is a boost from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's dividend payout ratio (DPR) is 77.78%.

Terreno Realty Company Profile

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.

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