Piper Sandler Has Lowered Expectations for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO) had its target price lowered by Piper Sandler from $61.00 to $60.00 in a research report sent to investors on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on the company. BMO Capital Markets raised their target price on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Barclays decreased their target price on shares of Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.45.

Terreno Realty Stock Performance

Shares of TRNO opened at $55.90 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. Terreno Realty has a 1 year low of $48.18 and a 1 year high of $71.63. The firm has a fifty day moving average of $63.67 and a 200-day moving average of $62.50. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, equities analysts anticipate that Terreno Realty will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Thursday, March 27th. Terreno Realty’s dividend payout ratio is 102.08%.

Institutional Trading of Terreno Realty

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Terreno Realty in the first quarter worth $948,000. GAMMA Investing LLC boosted its position in Terreno Realty by 840.2% during the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 1,109 shares during the period. Harbor Capital Advisors Inc. grew its stake in Terreno Realty by 7.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 32,078 shares of the real estate investment trust’s stock valued at $2,028,000 after acquiring an additional 2,194 shares in the last quarter. Portside Wealth Group LLC acquired a new position in shares of Terreno Realty in the 1st quarter valued at about $202,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Terreno Realty in the first quarter worth approximately $240,000.

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.