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

Key Points

• Terreno Realty has a “Moderate Buy” consensus rating from 13 analysts, with seven buy ratings, one strong-buy rating, three holds and two sells. The average 12-month price target is $71.71.
• The REIT reported quarterly earnings of $0.66 per share, beating the $0.30 consensus estimate, while revenue of $124.44 million also exceeded expectations.
• Terreno announced a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a 2.9% yield; shares recently traded at $71.67, near the average analyst target.

Shares of Terreno Realty Corporation (NYSE:TRNO - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $71.7143.

TRNO has been the topic of a number of research analyst reports. UBS Group set a $68.00 target price on Terreno Realty in a research note on Thursday, June 18th. Robert W. Baird set a $69.00 price target on Terreno Realty in a research note on Friday, May 8th. Raymond James Financial assumed coverage on Terreno Realty in a report on Wednesday, June 17th. They issued an "underperform" rating for the company. Weiss Ratings raised Terreno Realty from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Finally, Piper Sandler raised their price objective on Terreno Realty from $79.00 to $91.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st.

Institutional Trading of Terreno Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. EverSource Wealth Advisors LLC boosted its position in Terreno Realty by 57.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 159 shares in the last quarter. Wiser Advisor Group LLC bought a new position in shares of Terreno Realty in the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its position in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 350 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 172 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Terreno Realty in the 4th quarter valued at approximately $30,000.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $71.67 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $7.62 billion, a PE ratio of 17.52 and a beta of 1.05. Terreno Realty has a twelve month low of $53.00 and a twelve month high of $78.94. The company has a 50-day moving average price of $68.00 and a two-hundred day moving average price of $65.40.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.36. The company had revenue of $124.44 million during the quarter, compared to analysts' expectations of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. Equities analysts forecast that Terreno Realty will post 2.81 EPS for the current year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, June 26th. Terreno Realty's dividend payout ratio is currently 50.86%.

About Terreno Realty

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

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