Terreno Realty Co. (NYSE:TRNO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Terreno Realty Co. (NYSE:TRNO) have received a consensus recommendation of “Hold” from the twelve research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $69.27.

A number of research firms have recently issued reports on TRNO. Deutsche Bank Aktiengesellschaft started coverage on Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target on the stock. BMO Capital Markets boosted their price target on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. JMP Securities restated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Finally, Barclays reiterated an “equal weight” rating and issued a $60.00 price target (down from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC raised its holdings in Terreno Realty by 16.4% during the third quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock valued at $708,348,000 after acquiring an additional 1,496,666 shares during the period. Vanguard Group Inc. raised its stake in Terreno Realty by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after purchasing an additional 1,484,301 shares during the period. Deutsche Bank AG raised its stake in Terreno Realty by 287.6% during the 4th quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust’s stock valued at $91,454,000 after purchasing an additional 1,147,404 shares during the period. Norges Bank purchased a new position in Terreno Realty in the 4th quarter worth approximately $58,818,000. Finally, Northern Trust Corp boosted its stake in Terreno Realty by 51.6% in the 4th quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust’s stock worth $109,150,000 after purchasing an additional 628,065 shares during the period.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $67.86 on Friday. The business has a 50-day simple moving average of $63.20 and a two-hundred day simple moving average of $64.04. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91. Terreno Realty has a fifty-two week low of $53.78 and a fifty-two week high of $71.63.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share 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%. On average, analysts expect that Terreno Realty will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 2.89%. Terreno Realty’s payout ratio is 102.08%.

About Terreno Realty

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.