Terreno Realty Corporation (NYSE:TRNO) Receives Average Recommendation of "Hold" from 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 received an average rating of "Hold" from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $63.00.

A number of analysts recently issued reports on the company. The Goldman Sachs Group set a $64.00 price objective on Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. KeyCorp reduced their price objective on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, August 21st. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Wells Fargo & Company reduced their price objective on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Finally, Barclays lifted their price objective on Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday.

Terreno Realty Stock Up 0.5%

Shares of Terreno Realty stock traded up $0.31 during midday trading on Thursday, hitting $58.59. The company's stock had a trading volume of 733,252 shares, compared to its average volume of 730,904. The firm has a market capitalization of $6.05 billion, a P/E ratio of 23.25, a PEG ratio of 2.48 and a beta of 1.06. The stock has a 50-day simple moving average of $56.52 and a 200-day simple moving average of $58.15. The company has a quick ratio of 1.75, a current 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 business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a $0.52 dividend. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, September 29th. Terreno Realty's payout ratio is presently 77.78%.

Insider Buying and Selling at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the sale, the president owned 412,415 shares of the company's stock, valued at $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Terreno Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its position in shares of Terreno Realty by 140.6% in the second quarter. Osaic Holdings Inc. now owns 611 shares of the real estate investment trust's stock worth $35,000 after buying an additional 357 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Terreno Realty by 50.1% in the 2nd quarter. Squarepoint Ops LLC now owns 32,815 shares of the real estate investment trust's stock valued at $1,840,000 after acquiring an additional 10,953 shares in the last quarter. Hudson Bay Capital Management LP raised its holdings in Terreno Realty by 359.3% in the 2nd quarter. Hudson Bay Capital Management LP now owns 390,919 shares of the real estate investment trust's stock valued at $21,919,000 after acquiring an additional 305,806 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Terreno Realty by 11.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 352,236 shares of the real estate investment trust's stock valued at $19,750,000 after acquiring an additional 35,855 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Terreno Realty by 7.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 261,880 shares of the real estate investment trust's stock valued at $14,691,000 after acquiring an additional 18,985 shares in the last quarter.

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.