Terreno Realty Corporation (NYSE:TRNO) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Terreno Realty Corporation has received a consensus rating of "Hold" from eleven ratings firms, with an average 12-month price target of $63.70.
• Recently, the company declared an increase in its quarterly dividend to $0.52 per share, effective for shareholders on record by September 29th, representing an annualized yield of 3.6%.
• Key investment firms have adjusted their price targets on Terreno Realty, with Goldman Sachs setting a target of $64.00 and Barclays increasing theirs to $57.00.

Shares of Terreno Realty Corporation (NYSE:TRNO - Get Free Report) have been given a consensus recommendation of "Hold" by the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $63.70.

A number of research analysts recently weighed in on the stock. KeyCorp reduced their price objective on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, August 21st. Barclays lifted their price objective on shares of Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, September 15th. Wells Fargo & Company reduced their price objective on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. The Goldman Sachs Group set a $64.00 price target on shares of Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Piper Sandler boosted their price target on shares of Terreno Realty from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, September 18th.

Insider Activity at Terreno Realty

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC grew its position in shares of Terreno Realty by 2.0% during the 2nd quarter. Corient Private Wealth LLC now owns 22,576 shares of the real estate investment trust's stock valued at $1,266,000 after purchasing an additional 448 shares in the last quarter. Texas Permanent School Fund Corp grew its position in Terreno Realty by 3.3% in the second quarter. Texas Permanent School Fund Corp now owns 40,792 shares of the real estate investment trust's stock worth $2,287,000 after acquiring an additional 1,308 shares in the last quarter. Osaic Holdings Inc. grew its position in 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 acquiring an additional 357 shares in the last quarter. Squarepoint Ops LLC grew its position in Terreno Realty by 50.1% in the second quarter. Squarepoint Ops LLC now owns 32,815 shares of the real estate investment trust's stock worth $1,840,000 after acquiring an additional 10,953 shares in the last quarter. Finally, Hudson Bay Capital Management LP grew its position in Terreno Realty by 359.3% in the second quarter. Hudson Bay Capital Management LP now owns 390,919 shares of the real estate investment trust's stock worth $21,919,000 after acquiring an additional 305,806 shares in the last quarter.

Terreno Realty Stock Up 0.6%

Terreno Realty stock opened at $58.03 on Monday. Terreno Realty has a 1-year low of $48.18 and a 1-year high of $69.20. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 2.48 and a beta of 1.04. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $56.69 and a 200 day simple moving average of $57.24.

Terreno Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a dividend of $0.52 per share. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. Terreno Realty's dividend payout ratio (DPR) is presently 82.54%.

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.

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