BMO Capital Markets Forecasts Strong Price Appreciation for Terreno Realty (NYSE:TRNO) Stock

Terreno Realty (NYSE:TRNO) had its price objective upped by BMO Capital Markets from $71.00 to $73.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the real estate investment trust’s stock.

TRNO has been the topic of a number of other reports. Piper Sandler dropped their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Barclays reissued an “equal weight” rating and set a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Scotiabank decreased their price objective on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft started coverage on Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective for the company. Finally, JMP Securities reissued a “market outperform” rating and set a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Terreno Realty has a consensus rating of “Hold” and a consensus target price of $68.45.

Terreno Realty Stock Down 0.9 %

TRNO stock opened at $66.74 on Wednesday. The stock’s 50 day simple moving average is $62.10 and its 200 day simple moving average is $64.07. Terreno Realty has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.71 and a current ratio of 0.23. The company has a market cap of $6.66 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping 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%. On average, research analysts expect that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio is presently 102.08%.

Hedge Funds Weigh In On Terreno Realty

Institutional investors have recently bought and sold shares of the company. Stifel Financial Corp lifted its stake in Terreno Realty by 39.3% in the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock valued at $6,156,000 after purchasing an additional 25,988 shares during the last quarter. Barclays PLC lifted its stake 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 valued at $11,360,000 after purchasing an additional 96,380 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Terreno Realty by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock valued at $115,475,000 after purchasing an additional 315,506 shares during the last quarter. Geode Capital Management LLC lifted its stake in Terreno Realty by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after purchasing an additional 8,940 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Terreno Realty in the third quarter valued at approximately $225,000.

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.