Terreno Realty (NYSE:TRNO) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Terreno Realty (NYSE:TRNO) from a neutral rating to a buy rating in a report issued on Friday morning, MarketBeat.com reports. They currently have $77.00 target price on the real estate investment trust’s stock, up from their prior target price of $65.00.

A number of other equities research analysts have also recently commented on TRNO. Barclays reiterated an “equal weight” rating and set a $60.00 price target (down previously from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Scotiabank cut their price target on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, October 25th. Piper Sandler cut their price target on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price on the stock. Finally, BMO Capital Markets raised their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $69.27.

Terreno Realty Stock Up 0.4 %

Shares of NYSE:TRNO opened at $67.08 on Friday. Terreno Realty has a 52-week low of $53.78 and a 52-week high of $71.63. The firm has a fifty day moving average of $62.66 and a 200 day moving average of $64.03. The firm has a market capitalization of $6.69 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91. 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 (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate 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, research analysts anticipate that Terreno Realty will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

Institutional Investors Weigh In On Terreno Realty

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp grew its stake in Terreno Realty by 39.3% during the 3rd quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock valued at $6,156,000 after acquiring an additional 25,988 shares in the last quarter. Barclays PLC boosted its position in Terreno Realty by 131.0% during the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after purchasing an additional 96,380 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Terreno Realty by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock worth $115,475,000 after purchasing an additional 315,506 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after buying an additional 8,940 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Terreno Realty during the third quarter worth approximately $225,000.

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.