Terreno Realty (NYSE:TRNO) Price Target Cut to $60.00 by Analysts at Piper Sandler

Terreno Realty (NYSE:TRNO) had its target price cut by Piper Sandler from $61.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on TRNO. Scotiabank reduced their price target on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft started coverage on Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price on the stock. Barclays decreased their target price on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Tuesday, March 25th. BMO Capital Markets lifted their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.45.

Terreno Realty Stock Up 1.6 %

Shares of Terreno Realty stock opened at $57.65 on Tuesday. 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 has a 52-week low of $48.18 and a 52-week high of $71.63. The company’s 50 day moving average price is $63.27 and its 200-day moving average price is $62.39. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 2.82 and a beta of 1.00.

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

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were paid a $0.49 dividend. The ex-dividend date was Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.40%. Terreno Realty’s payout ratio is 102.08%.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently bought and sold shares of TRNO. HighTower Advisors LLC purchased a new position in shares of Terreno Realty during the third quarter valued at approximately $255,000. Orion Portfolio Solutions LLC increased its position in Terreno Realty by 10.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the real estate investment trust’s stock valued at $627,000 after buying an additional 903 shares in the last quarter. MML Investors Services LLC raised its stake in Terreno Realty by 6.1% during 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 during the last quarter. Barclays PLC boosted its holdings in Terreno Realty by 131.0% in the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after acquiring an additional 96,380 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Terreno Realty by 15.9% in the third quarter. Tidal Investments LLC now owns 61,852 shares of the real estate investment trust’s stock worth $4,134,000 after acquiring an additional 8,490 shares during the last quarter.

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.