Terreno Realty Corporation (NYSE:TRNO) Given Average Recommendation of "Hold" by Brokerages

Shares of Terreno Realty Corporation (NYSE:TRNO - Get Free Report) have earned an average recommendation of "Hold" from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $65.00.

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

Terreno Realty Price Performance

TRNO traded up $0.44 during midday trading on Friday, hitting $56.51. The company had a trading volume of 897,779 shares, compared to its average volume of 939,093. Terreno Realty has a twelve month low of $48.18 and a twelve month high of $71.63. The company has a market capitalization of $5.84 billion, a PE ratio of 28.40, a P/E/G ratio of 2.39 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.35 and a current ratio of 2.35. The firm's 50-day simple moving average is $57.37 and its 200-day simple moving average is $60.65.

Terreno Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Friday, June 27th. Terreno Realty's payout ratio is presently 98.49%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. Vanguard Group Inc. grew its position in shares of Terreno Realty by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock valued at $902,293,000 after purchasing an additional 1,484,301 shares during the period. Nuveen LLC bought a new position in Terreno Realty in the first quarter valued at approximately $83,095,000. Deutsche Bank AG boosted its holdings in shares of Terreno Realty by 287.6% in the fourth quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust's stock valued at $91,454,000 after buying an additional 1,147,404 shares during the period. Norges Bank acquired a new position in shares of Terreno Realty in the fourth quarter valued at approximately $58,818,000. Finally, FMR LLC lifted its position in Terreno Realty by 5.9% in the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock valued at $663,987,000 after acquiring an additional 628,116 shares in 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.