Terreno Realty (NYSE:TRNO) Price Target Lowered to $57.00 at Barclays

Terreno Realty (NYSE:TRNO) had its price target lowered by Barclays from $60.00 to $57.00 in a research note published on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Several other research firms have also recently commented on TRNO. JMP Securities reiterated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective for the company. Piper Sandler cut their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Finally, Scotiabank upped their price objective on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Terreno Realty currently has an average rating of “Hold” and a consensus price target of $69.09.

Terreno Realty Price Performance

Shares of TRNO stock opened at $63.02 on Tuesday. The firm has a fifty day simple moving average of $65.96 and a 200-day simple moving average of $63.71. The company has a market capitalization of $6.29 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. Terreno Realty has a twelve month low of $53.78 and a twelve month high of $71.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last posted 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%. Equities research analysts anticipate that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.11%. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. FMR LLC grew its position in Terreno Realty by 16.4% in the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock valued at $708,348,000 after buying an additional 1,496,666 shares in the last quarter. Vanguard Group Inc. raised its position in shares of 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 worth $902,293,000 after buying an additional 1,484,301 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Terreno Realty by 287.6% in the 4th quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust’s stock worth $91,454,000 after acquiring an additional 1,147,404 shares during the period. Norges Bank bought a new position in shares of Terreno Realty in the fourth quarter valued at approximately $58,818,000. Finally, Northern Trust Corp increased its stake in shares of Terreno Realty by 51.6% during the fourth quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust’s stock valued at $109,150,000 after acquiring an additional 628,065 shares during the period.

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.