Terreno Realty (NYSE:TRNO) Stock Rating Reaffirmed by Mizuho

Mizuho reaffirmed their underperform rating on shares of Terreno Realty (NYSE:TRNO) in a report published on Thursday, Marketbeat.com reports. Mizuho currently has a $62.00 price target on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company cut Terreno Realty from an overweight rating to an equal weight rating and raised their target price for the company from $71.00 to $75.00 in a research report on Wednesday, August 28th. Scotiabank raised their target price on Terreno Realty from $59.00 to $70.00 and gave the company a sector perform rating in a research report on Monday, August 26th. JMP Securities raised their target price on Terreno Realty from $65.00 to $72.00 and gave the company a market outperform rating in a research report on Tuesday, August 13th. StockNews.com cut Terreno Realty from a hold rating to a sell rating in a research report on Thursday, August 29th. Finally, Wedbush restated a neutral rating and set a $70.00 target price (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Terreno Realty has an average rating of Hold and an average target price of $69.56.

Terreno Realty Price Performance

Shares of TRNO opened at $68.58 on Thursday. The business’s 50-day moving average is $66.73 and its two-hundred day moving average is $61.99. The company has a market capitalization of $6.63 billion, a P/E ratio of 35.72, a P/E/G ratio of 3.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. Terreno Realty has a fifty-two week low of $50.42 and a fifty-two week high of $71.63.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). The company had revenue of $94.25 million for the quarter, compared to analyst estimates of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. Research analysts predict that Terreno Realty will post 2.42 earnings per share for the current year.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

Insiders Place Their Bets

In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.64, for a total value of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.64, for a total value of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael A. Coke sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.53, for a total transaction of $513,975.00. Following the completion of the transaction, the president now directly owns 402,164 shares in the company, valued at $27,560,298.92. The disclosure for this sale can be found here. Insiders have sold 18,643 shares of company stock valued at $1,277,581 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Terreno Realty

Institutional investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of Terreno Realty during the 1st quarter valued at approximately $31,000. Whittier Trust Co. raised its position in shares of Terreno Realty by 123.4% during the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 337 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Terreno Realty during the 2nd quarter valued at approximately $48,000. EntryPoint Capital LLC raised its position in shares of Terreno Realty by 80.3% during the 1st quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 419 shares during the period. Finally, CWM LLC raised its position in shares of Terreno Realty by 58.2% during the 2nd quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 438 shares during the period.

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.