Wedbush Analysts Lift Earnings Estimates for Terreno Realty

Terreno Realty Co. (NYSE:TRNO - Free Report) - Wedbush boosted their FY2024 EPS estimates for shares of Terreno Realty in a research note issued to investors on Monday, November 11th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $2.43 per share for the year, up from their previous estimate of $2.41. Wedbush has a "Neutral" rating and a $70.00 price objective on the stock. The consensus estimate for Terreno Realty's current full-year earnings is $2.41 per share. Wedbush also issued estimates for Terreno Realty's Q4 2024 earnings at $0.63 EPS.

A number of other research firms have also issued reports on TRNO. Barclays lowered their target price on Terreno Realty from $69.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Scotiabank dropped their price objective on shares of Terreno Realty from $70.00 to $67.00 and set a "sector perform" rating on the stock in a report on Friday, October 25th. JMP Securities increased their target price on shares of Terreno Realty from $65.00 to $72.00 and gave the company a "market outperform" rating in a research note on Tuesday, August 13th. Wells Fargo & Company downgraded Terreno Realty from an "overweight" rating to an "equal weight" rating and raised their price objective for the stock from $71.00 to $75.00 in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group upped their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the company a "neutral" rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Terreno Realty has a consensus rating of "Hold" and a consensus target price of $69.22.

Terreno Realty Stock Up 1.3 %

Shares of TRNO traded up $0.81 during trading hours on Wednesday, hitting $61.81. 694,894 shares of the company were exchanged, compared to its average volume of 709,005. The firm's 50 day moving average is $65.00 and its 200-day moving average is $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71. Terreno Realty has a 52 week low of $53.78 and a 52 week high of $71.63. The company has a market cap of $6.16 billion, a PE ratio of 34.18, a PEG ratio of 2.81 and a beta of 0.90.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.24). Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. The business had revenue of $99.64 million during the quarter, compared to the consensus estimate of $96.31 million.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th will be paid a $0.49 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.17%. Terreno Realty's dividend payout ratio (DPR) is presently 107.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. Sei Investments Co. raised its position in Terreno Realty by 33.3% in the 1st quarter. Sei Investments Co. now owns 379,938 shares of the real estate investment trust's stock worth $25,228,000 after purchasing an additional 94,813 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Terreno Realty by 107.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 49,548 shares of the real estate investment trust's stock worth $3,185,000 after acquiring an additional 25,683 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Terreno Realty by 10.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 133,856 shares of the real estate investment trust's stock valued at $8,888,000 after acquiring an additional 13,064 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Terreno Realty by 37.2% in the 1st quarter. Bessemer Group Inc. now owns 292,785 shares of the real estate investment trust's stock valued at $19,441,000 after purchasing an additional 79,441 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Terreno Realty by 292.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,712 shares of the real estate investment trust's stock worth $693,000 after purchasing an additional 8,728 shares during the last quarter.

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.