Terreno Realty Co. (NYSE:TRNO) Receives $66.45 Consensus Price Target from Analysts

Terreno Realty Co. (NYSE:TRNO) has received a consensus recommendation of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $66.45.

Several equities analysts recently issued reports on TRNO shares. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $77.00 in a research report on Friday, February 21st. Piper Sandler cut their target price on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. StockNews.com raised Terreno Realty from a “sell” rating to a “hold” rating in a research report on Friday. JMP Securities reissued a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price on the stock.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently modified their holdings of TRNO. Barclays PLC boosted its stake in shares of Terreno Realty by 131.0% during the 3rd 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. Harbor Capital Advisors Inc. boosted its stake in shares of Terreno Realty by 20.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 29,884 shares of the real estate investment trust’s stock worth $1,767,000 after acquiring an additional 5,015 shares in the last quarter. Diversify Wealth Management LLC boosted its stake in shares of Terreno Realty by 48.0% during the 4th quarter. Diversify Wealth Management LLC now owns 7,341 shares of the real estate investment trust’s stock worth $425,000 after acquiring an additional 2,382 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Terreno Realty during the 4th quarter worth about $444,000. Finally, Fifth Third Bancorp boosted its stake in shares of Terreno Realty by 7.4% during the 4th quarter. Fifth Third Bancorp now owns 6,436 shares of the real estate investment trust’s stock worth $381,000 after acquiring an additional 441 shares in the last quarter.

Terreno Realty Price Performance

NYSE TRNO opened at $57.13 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The stock’s fifty day moving average price is $59.96 and its 200 day moving average price is $61.53. Terreno Realty has a 1 year low of $48.18 and a 1 year high of $71.63. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.82 and a beta of 1.07.

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, June 27th. Terreno Realty’s payout ratio is currently 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.