Terreno Realty (NYSE:TRNO) Reaches New 1-Year High - Time to Buy?

Key Points

• Terreno Realty hit a new 52-week high, trading as high as $69.80 after rising 1.1%, with the stock recently last seen near $69.93.
• Analyst views are mixed but lean positive: the consensus rating is Moderate Buy with an average price target of $69.21, though some firms recently cut targets or issued cautious ratings.
• The company reported better-than-expected quarterly results, posting $0.66 EPS versus $0.30 expected and revenue of $124.44 million, while also paying a quarterly dividend of $0.52 per share for a 3.0% yield.

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $69.80 and last traded at $69.9290, with a volume of 20170 shares trading hands. The stock had previously closed at $69.40.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Robert W. Baird set a $69.00 price objective on Terreno Realty in a report on Friday, May 8th. Wells Fargo & Company reduced their target price on Terreno Realty from $68.00 to $64.00 and set an "equal weight" rating on the stock in a report on Monday, June 1st. Raymond James Financial initiated coverage on Terreno Realty in a research report on Wednesday, June 17th. They set an "underperform" rating for the company. Weiss Ratings upgraded Terreno Realty from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Finally, KeyCorp restated an "overweight" rating on shares of Terreno Realty in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.21.

Terreno Realty Trading Up 1.1%

The stock has a market capitalization of $7.46 billion, a PE ratio of 17.17 and a beta of 1.05. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The business's 50-day moving average is $65.92 and its two-hundred day moving average is $64.05.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate of $0.30 by $0.36. The company had revenue of $124.44 million for the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. On average, analysts predict that Terreno Realty Corporation will post 2.8 earnings per share for the current year.

Terreno Realty Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, June 26th. Terreno Realty's dividend payout ratio (DPR) is presently 50.86%.

Hedge Funds Weigh In On Terreno Realty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in Terreno Realty by 30.0% in the second quarter. GAMMA Investing LLC now owns 2,557 shares of the real estate investment trust's stock valued at $166,000 after acquiring an additional 590 shares in the last quarter. Moody National Bank Trust Division lifted its position in shares of Terreno Realty by 15.3% during the second quarter. Moody National Bank Trust Division now owns 11,727 shares of the real estate investment trust's stock worth $760,000 after purchasing an additional 1,559 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Terreno Realty by 12.8% in the first quarter. Empowered Funds LLC now owns 3,649 shares of the real estate investment trust's stock valued at $224,000 after purchasing an additional 414 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Terreno Realty by 2.8% in the first quarter. Glenmede Trust Co. NA now owns 14,548 shares of the real estate investment trust's stock valued at $894,000 after purchasing an additional 403 shares during the period. Finally, Cim Investment Management Inc. acquired a new stake in Terreno Realty during the 1st quarter valued at $204,000.

Terreno Realty Company Profile

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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