Terreno Realty (NYSE:TRNO) Shares Gap Down After Analyst Downgrade

Terreno Realty Co. (NYSE:TRNO) shares gapped down prior to trading on Tuesday after Barclays lowered their price target on the stock from $60.00 to $57.00. The stock had previously closed at $64.04, but opened at $62.55. Barclays currently has an equal weight rating on the stock. Terreno Realty shares last traded at $63.43, with a volume of 41,641 shares trading hands.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler dropped their price target on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. BMO Capital Markets upped their price objective on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. JMP Securities reissued a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a research report on Monday, February 10th. Finally, Scotiabank raised their price target on shares of Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.09.

Institutional Trading of Terreno Realty

Several institutional investors have recently added to or reduced their stakes in TRNO. Mariner LLC lifted its holdings in Terreno Realty by 3.7% in the fourth quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 161 shares during the last quarter. MML Investors Services LLC raised its stake in Terreno Realty by 6.1% during the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 249 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Terreno Realty by 0.9% in the fourth quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust’s stock worth $1,810,000 after purchasing an additional 271 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Terreno Realty by 1.0% during the fourth quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock valued at $1,663,000 after purchasing an additional 276 shares during the period. Finally, Summit Investment Advisors Inc. increased its stake in shares of Terreno Realty by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust’s stock valued at $591,000 after acquiring an additional 316 shares during the period.

Terreno Realty Trading Up 1.4 %

The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $66.04 and a 200-day moving average price of $63.71. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 2.82 and a beta of 0.93.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business 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 is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.07%. Terreno Realty’s dividend payout ratio (DPR) is presently 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.