Terreno Realty Co. (NYSE:TRNO) Given Consensus Rating of "Hold" by Analysts

Terreno Realty Co. (NYSE:TRNO - Get Free Report) has been assigned an average recommendation of "Hold" from the nine research firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $69.56.

Several equities research analysts have weighed in on TRNO shares. Barclays lowered their price objective on shares of Terreno Realty from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Friday, May 24th. Wells Fargo & Company lowered shares of 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 note on Wednesday. JMP Securities raised 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. The Goldman Sachs Group raised 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. Finally, BNP Paribas assumed coverage on shares of Terreno Realty in a research note on Tuesday, June 4th. They issued an "outperform" rating and a $68.00 target price on the stock.

Terreno Realty Price Performance

TRNO traded up $0.99 during midday trading on Friday, hitting $69.04. The company had a trading volume of 537,197 shares, compared to its average volume of 656,241. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market capitalization of $6.69 billion, a PE ratio of 35.96, a P/E/G ratio of 3.17 and a beta of 0.89. Terreno Realty has a twelve month low of $50.42 and a twelve month high of $71.63. The firm's 50-day simple moving average is $65.73 and its 200-day simple moving average is $61.78.

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 issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.84%. This is an increase from Terreno Realty's previous quarterly dividend of $0.45. The ex-dividend date is Monday, September 30th. Terreno Realty's payout ratio is presently 93.75%.

Insider Buying and Selling at Terreno Realty

In other news, President Michael A. Coke sold 7,500 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.53, for a total value of $513,975.00. Following the transaction, the president now directly owns 402,164 shares of the company's stock, valued at $27,560,298.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP John Tull Meyer sold 6,145 shares of the stock in a transaction dated 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 $7,618,216.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael A. Coke sold 7,500 shares of the company's stock in a transaction dated Friday, August 9th. The shares were 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 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 a total of 18,643 shares of company stock worth $1,277,581 over the last ninety days. Insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Terreno Realty

Several institutional investors and hedge funds have recently modified their holdings of TRNO. Creative Planning boosted its stake in shares of Terreno Realty by 7.0% in the 2nd quarter. Creative Planning now owns 4,797 shares of the real estate investment trust's stock valued at $284,000 after purchasing an additional 312 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Terreno Realty in the 2nd quarter valued at approximately $573,000. The Manufacturers Life Insurance Company boosted its stake in shares of Terreno Realty by 14.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,584 shares of the real estate investment trust's stock valued at $3,940,000 after purchasing an additional 8,336 shares in the last quarter. DigitalBridge Group Inc. boosted its stake in shares of Terreno Realty by 30.1% in the 2nd quarter. DigitalBridge Group Inc. now owns 175,288 shares of the real estate investment trust's stock valued at $10,374,000 after purchasing an additional 40,600 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Terreno Realty by 48.4% in the 2nd quarter. AQR Capital Management LLC now owns 44,114 shares of the real estate investment trust's stock valued at $2,611,000 after purchasing an additional 14,386 shares in 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.