Terreno Realty Corporation (NYSE:TRNO) Receives $65.00 Consensus PT from Analysts

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) has received a consensus rating of "Hold" from the eleven research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $65.00.

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Barclays cut their price objective on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 27th. Piper Sandler lowered their target price on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, Scotiabank dropped their target price on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th.

Terreno Realty Price Performance

Shares of Terreno Realty stock traded down $0.29 during trading on Friday, reaching $56.21. 2,062,541 shares of the company's stock were exchanged, compared to its average volume of 943,380. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.35 and a current ratio of 2.35. Terreno Realty has a 1-year low of $48.18 and a 1-year high of $71.63. The company has a market cap of $5.81 billion, a P/E ratio of 28.25, a PEG ratio of 2.41 and a beta of 1.07. The firm's 50-day moving average price is $57.37 and its 200 day moving average price is $60.75.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.49%. Terreno Realty's dividend payout ratio (DPR) is 98.49%.

Institutional Trading of Terreno Realty

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in shares of Terreno Realty by 58.3% in the 4th quarter. Bank of New York Mellon Corp now owns 948,090 shares of the real estate investment trust's stock worth $56,070,000 after purchasing an additional 349,060 shares during the period. Amalgamated Bank raised its stake in Terreno Realty by 819.1% during the fourth quarter. Amalgamated Bank now owns 28,987 shares of the real estate investment trust's stock worth $1,714,000 after buying an additional 25,833 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Terreno Realty in the fourth quarter valued at $202,000. Oregon Public Employees Retirement Fund acquired a new position in Terreno Realty in the fourth quarter valued at $1,390,000. Finally, Oppenheimer Asset Management Inc. boosted its position in Terreno Realty by 3.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,585 shares of the real estate investment trust's stock valued at $685,000 after acquiring an additional 400 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.