Terreno Realty (NYSE:TRNO) Price Target Cut to $68.00 by Analysts at Barclays

Terreno Realty (NYSE:TRNO) had its price target reduced by Barclays from $69.00 to $68.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the company. Wolfe Research raised Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. JMP Securities boosted their price target on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 13th. Mizuho reissued an “underperform” rating and issued a $62.00 target price on shares of Terreno Realty in a research note on Thursday, September 5th. Scotiabank decreased their price objective on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group upped their target price on Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.22.

Terreno Realty Stock Up 0.7 %

Shares of NYSE TRNO opened at $61.90 on Monday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The company has a market cap of $5.99 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.84 and a beta of 0.90. Terreno Realty has a 52 week low of $50.88 and a 52 week high of $71.63. The business has a 50-day simple moving average of $66.84 and a two-hundred day simple moving average of $62.53.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS 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 firm had revenue of $94.25 million for the quarter, compared to analysts’ expectations of $89.07 million. Research analysts anticipate that Terreno Realty will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.49 per share. The ex-dividend date was Monday, September 30th. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a dividend yield of 3.17%. Terreno Realty’s payout ratio is 102.08%.

Insider Buying and Selling

In other Terreno Realty news, CFO Jaime Jackson Cannon sold 4,998 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now directly owns 101,927 shares in the company, valued at $6,970,787.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at $6,970,787.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the sale, the executive vice president now owns 110,988 shares in the company, valued at approximately $7,618,216.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,643 shares of company stock valued at $1,277,581 over the last quarter. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors have recently modified their holdings of TRNO. Sumitomo Mitsui Trust Holdings Inc. grew its position in Terreno Realty by 6.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 105,463 shares of the real estate investment trust’s stock valued at $7,003,000 after purchasing an additional 6,815 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Terreno Realty by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 39,904 shares of the real estate investment trust’s stock valued at $2,648,000 after acquiring an additional 937 shares in the last quarter. Norden Group LLC raised its holdings in Terreno Realty by 1,032.3% in the 1st quarter. Norden Group LLC now owns 57,904 shares of the real estate investment trust’s stock worth $3,845,000 after acquiring an additional 52,790 shares during the last quarter. Diversify Advisory Services LLC bought a new position in Terreno Realty in the 1st quarter valued at approximately $280,000. Finally, BNP Paribas Financial Markets boosted its stake in Terreno Realty by 1.9% during the 1st quarter. BNP Paribas Financial Markets now owns 42,062 shares of the real estate investment trust’s stock valued at $2,793,000 after purchasing an additional 780 shares during 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.