Terreno Realty Corporation (NYSE:TRNO) Receives Average Recommendation of "Hold" from Brokerages

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $65.00.

A number of brokerages have recently commented on TRNO. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays cut their price objective on shares of 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. Scotiabank dropped their price target on shares of Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Piper Sandler dropped their price target 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. Finally, Wells Fargo & Company dropped their price target on shares of Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th.

Terreno Realty Stock Down 0.4%

Shares of TRNO stock traded down $0.24 during trading on Wednesday, reaching $56.99. The company's stock had a trading volume of 586,324 shares, compared to its average volume of 932,438. The business has a fifty day moving average price of $57.30 and a 200-day moving average price of $60.38. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 2.43 and a beta of 1.06. Terreno Realty has a one year low of $48.18 and a one year high of $71.63.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.44%. Terreno Realty's dividend payout ratio is currently 98.49%.

Hedge Funds Weigh In On Terreno Realty

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its stake in Terreno Realty by 304.3% during the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock worth $29,000 after buying an additional 350 shares in the last quarter. Quarry LP grew its stake in Terreno Realty by 613.7% during the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock worth $43,000 after buying an additional 626 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Terreno Realty by 94.6% during the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock worth $45,000 after buying an additional 370 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Terreno Realty by 90.2% during the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust's stock worth $50,000 after buying an additional 378 shares in the last quarter. Finally, CWM LLC grew its stake in Terreno Realty by 26.5% during the second quarter. CWM LLC now owns 1,171 shares of the real estate investment trust's stock worth $66,000 after buying an additional 245 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.