Terreno Realty (NYSE:TRNO) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Terreno Realty beat earnings expectations: The REIT reported quarterly EPS of $0.54, exceeding the $0.41 consensus by $0.13. Revenue was $124.71 million, below the $127.17 million estimate.
• Shares declined 1.1% to $69.56 following the results, despite trading above their 50-day and 200-day moving averages. The stock has a market capitalization of approximately $7.39 billion.
• Analysts remain moderately bullish: Terreno Realty has an average “Moderate Buy” rating and a consensus price target of $71.71, with targets ranging from $68 to $85. Several institutional investors, including Balyasny Asset Management and UBS, recently increased their holdings.

Terreno Realty (NYSE:TRNO - Get Free Report) announced its earnings results on Wednesday. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13, FiscalAI reports. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. The company had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.17 million.

Terreno Realty Stock Down 1.1%

Terreno Realty stock traded down $0.80 on Wednesday, hitting $69.56. 620,667 shares of the stock traded hands, compared to its average volume of 771,839. The firm has a market cap of $7.39 billion, a P/E ratio of 17.01 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. Terreno Realty has a 1 year low of $53.00 and a 1 year high of $78.94. The business's fifty day simple moving average is $68.19 and its 200 day simple moving average is $65.60.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TRNO shares. The Goldman Sachs Group boosted their price target on shares of Terreno Realty from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Raymond James Financial started coverage on shares of Terreno Realty in a report on Wednesday, June 17th. They issued an "underperform" rating for the company. Robert W. Baird set a $69.00 price target on Terreno Realty in a research report on Friday, May 8th. Barclays upped their target price on shares of Terreno Realty from $60.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th. Finally, UBS Group set a $68.00 price objective on Terreno Realty in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $71.71.

Hedge Funds Weigh In On Terreno Realty

Several institutional investors and hedge funds have recently modified their holdings of TRNO. Balyasny Asset Management L.P. grew its position in Terreno Realty by 529.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 407,497 shares of the real estate investment trust's stock valued at $23,924,000 after purchasing an additional 342,740 shares during the last quarter. UBS Group AG grew its holdings in shares of Terreno Realty by 108.1% during the third quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust's stock valued at $34,044,000 after buying an additional 311,559 shares during the last quarter. Adelante Capital Management LLC bought a new stake in shares of Terreno Realty during the third quarter valued at approximately $16,070,000. State Street Corp raised its holdings in Terreno Realty by 4.0% in the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust's stock worth $336,139,000 after acquiring an additional 230,444 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Terreno Realty by 31.3% in the 2nd quarter. Bank of America Corp DE now owns 812,348 shares of the real estate investment trust's stock valued at $45,548,000 after acquiring an additional 193,555 shares in the last quarter.

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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