Terreno Realty (NYSE:TRNO) Receives New Coverage from Analysts at Barclays

Barclays initiated coverage on shares of Terreno Realty (NYSE:TRNO) in a research report released on Wednesday, MarketBeat reports. The brokerage issued an overweight rating and a $71.00 price target on the real estate investment trust’s stock.

Several other research firms have also commented on TRNO. The Goldman Sachs Group boosted their price objective on shares of Terreno Realty from $60.00 to $66.00 and gave the stock a neutral rating in a research note on Thursday, January 11th. Wells Fargo & Company assumed coverage on Terreno Realty in a research report on Thursday, December 7th. They issued an overweight rating and a $71.00 price objective for the company. Scotiabank upped their target price on Terreno Realty from $64.00 to $66.00 and gave the company a sector perform rating in a research report on Monday, February 12th. Piper Sandler increased their price target on Terreno Realty from $70.00 to $73.00 and gave the company an overweight rating in a research note on Friday, March 22nd. Finally, StockNews.com upgraded Terreno Realty from a sell rating to a hold rating in a research note on Saturday, March 23rd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $65.89.

Terreno Realty Trading Up 2.3 %

Shares of NYSE:TRNO opened at $65.34 on Wednesday. The company has a market capitalization of $5.88 billion, a PE ratio of 36.10, a P/E/G ratio of 2.98 and a beta of 0.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.28. Terreno Realty has a 12-month low of $50.42 and a 12-month high of $65.64. The business’s fifty day simple moving average is $62.72 and its 200-day simple moving average is $59.73.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The company had revenue of $86.48 million for the quarter, compared to the consensus estimate of $84.06 million. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. As a group, equities research analysts predict that Terreno Realty will post 2.39 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Thursday, March 28th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.75%. Terreno Realty’s payout ratio is currently 99.45%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. Vanguard Group Inc. raised its stake in shares of Terreno Realty by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 12,061,890 shares of the real estate investment trust’s stock valued at $755,919,000 after buying an additional 142,712 shares during the last quarter. Wellington Management Group LLP raised its position in Terreno Realty by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 648,438 shares of the real estate investment trust’s stock valued at $40,638,000 after acquiring an additional 50,433 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in Terreno Realty by 9.5% in the fourth quarter. Congress Asset Management Co. MA now owns 195,317 shares of the real estate investment trust’s stock valued at $12,241,000 after acquiring an additional 16,999 shares during the period. American International Group Inc. boosted its position in Terreno Realty by 1.0% in the 4th quarter. American International Group Inc. now owns 41,232 shares of the real estate investment trust’s stock worth $2,584,000 after purchasing an additional 392 shares in the last quarter. Finally, Napa Wealth Management purchased a new stake in Terreno Realty in the 4th quarter worth approximately $286,000.

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.