Terreno Realty Co. (NYSE:TRNO) Receives Average Recommendation of “Hold” from Analysts

Shares of Terreno Realty Co. (NYSE:TRNO) have earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $69.56.

Several research firms recently issued reports on TRNO. The Goldman Sachs Group boosted their price objective on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Wells Fargo & Company cut shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $71.00 to $75.00 in a research report on Wednesday, August 28th. StockNews.com raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a research note on Monday. BNP Paribas initiated coverage on shares of Terreno Realty in a research note on Tuesday, June 4th. They set an “outperform” rating and a $68.00 target price on the stock. Finally, Wolfe Research raised shares of Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd.

Insider Buying and Selling at Terreno Realty

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

Institutional Trading of Terreno Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Terreno Realty by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock valued at $861,988,000 after acquiring an additional 919,851 shares during the period. Principal Financial Group Inc. grew its position in Terreno Realty by 16.4% during the 1st quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock worth $342,322,000 after purchasing an additional 727,995 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Terreno Realty by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust’s stock valued at $276,381,000 after purchasing an additional 291,051 shares during the period. American Century Companies Inc. raised its holdings in shares of Terreno Realty by 7.3% in the second quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock valued at $127,287,000 after buying an additional 146,808 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Terreno Realty by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,383,262 shares of the real estate investment trust’s stock worth $81,862,000 after buying an additional 103,833 shares during the period.

Terreno Realty Trading Down 0.0 %

Shares of TRNO stock opened at $66.83 on Thursday. Terreno Realty has a 1-year low of $50.42 and a 1-year high of $71.63. The firm has a market cap of $6.48 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 3.10 and a beta of 0.90. The company has a 50-day moving average of $68.33 and a two-hundred day moving average of $62.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34.

Terreno Realty (NYSE:TRNO) last posted its 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). Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. The company had revenue of $94.25 million during the quarter, compared to analyst estimates of $89.07 million. On average, analysts predict that Terreno Realty will post 2.42 EPS for the current year.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.93%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s payout ratio is presently 93.75%.

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.