Brokerages Set Terreno Realty Corporation (NYSE:TRNO) Target Price at $64.00

Shares of Terreno Realty Corporation (NYSE:TRNO) have been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $64.00.

TRNO has been the topic of several analyst reports. Barclays lowered their price target on shares of Terreno Realty from $57.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 27th. The Goldman Sachs Group set a $64.00 price target on shares of Terreno Realty and gave the company a “buy” rating in a report on Tuesday, August 12th. Wells Fargo & Company set a $72.00 price target on shares of Terreno Realty in a report on Sunday, July 13th. Finally, Wall Street Zen raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $55.6440 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. Terreno Realty has a 1-year low of $48.18 and a 1-year high of $71.63. The company has a market capitalization of $5.75 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.28 and a beta of 1.02. The firm’s 50 day simple moving average is $56.49 and its two-hundred day simple moving average is $59.45.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.52 per share. This is an increase from Terreno Realty’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. Terreno Realty’s payout ratio is 77.78%.

Insider Transactions at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total transaction of $539,600.00. Following the completion of the sale, the president directly owned 412,415 shares of the company’s stock, valued at $22,253,913.40. This trade represents a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Terreno Realty by 4.0% during the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after buying an additional 230,444 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Terreno Realty by 2.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust’s stock valued at $333,261,000 after buying an additional 125,940 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Terreno Realty by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock valued at $262,918,000 after buying an additional 523,950 shares in the last quarter. Norges Bank purchased a new stake in Terreno Realty during the 2nd quarter valued at approximately $156,525,000. Finally, Geode Capital Management LLC grew its holdings in Terreno Realty by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 2,631,838 shares of the real estate investment trust’s stock valued at $147,584,000 after buying an additional 92,519 shares in 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.