Terreno Realty (NYSE:TRNO) Reaches New 1-Year Low on Analyst Downgrade

Terreno Realty Co. (NYSE:TRNO)’s share price hit a new 52-week low during trading on Monday after Scotiabank lowered their price target on the stock from $68.00 to $57.00. Scotiabank currently has a sector perform rating on the stock. Terreno Realty traded as low as $52.28 and last traded at $53.27, with a volume of 515615 shares changing hands. The stock had previously closed at $55.86.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets raised their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Piper Sandler cut Terreno Realty from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $78.00 to $61.00 in a research note on Monday. Barclays cut their target price on shares of Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. JMP Securities reiterated a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. Finally, The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $77.00 in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $66.55.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TRNO. Verition Fund Management LLC acquired a new position in shares of Terreno Realty during the third quarter worth about $225,000. HighTower Advisors LLC purchased a new position in Terreno Realty in the third quarter worth $255,000. Stifel Financial Corp boosted its position in shares of 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 worth $6,156,000 after purchasing an additional 25,988 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in Terreno Realty by 10.6% in the third quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the real estate investment trust’s stock valued at $627,000 after purchasing an additional 903 shares during the last quarter. Finally, MML Investors Services LLC increased its position in shares of Terreno Realty by 6.1% in the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 249 shares in the last quarter.

Terreno Realty Stock Down 4.6 %

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’s 50-day moving average is $64.96 and its 200 day moving average is $62.99. The firm has a market capitalization of $5.25 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, research analysts forecast that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.85%. Terreno Realty’s dividend payout ratio is currently 102.08%.

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.