Scotiabank Issues Positive Forecast for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO - Free Report) had its price target lifted by Scotiabank from $64.00 to $68.00 in a report published on Friday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust's stock.

TRNO has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $60.00 target price for the company. Barclays reaffirmed an "equal weight" rating and issued a $60.00 target price (down previously from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. BMO Capital Markets lifted their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group upgraded shares of Terreno Realty from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Finally, Piper Sandler dropped their price target on shares of Terreno Realty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $69.36.

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Terreno Realty Stock Up 0.4 %

Shares of TRNO traded up $0.25 on Friday, hitting $67.62. 1,266,750 shares of the stock traded hands, compared to its average volume of 885,487. The company has a market capitalization of $6.75 billion, a PE ratio of 35.22, a P/E/G ratio of 2.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The business has a 50 day simple moving average of $63.72 and a 200 day simple moving average of $63.99. Terreno Realty has a one year low of $53.78 and a one year high of $71.63.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, equities analysts forecast that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty's dividend payout ratio (DPR) is 102.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Terreno Realty by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock valued at $902,293,000 after buying an additional 1,484,301 shares in the last quarter. FMR LLC lifted its stake in Terreno Realty by 5.9% in the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock worth $663,987,000 after purchasing an additional 628,116 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Terreno Realty by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,145,502 shares of the real estate investment trust's stock worth $304,305,000 after purchasing an additional 210,696 shares in the last quarter. Geode Capital Management LLC lifted its stake in Terreno Realty by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust's stock worth $144,031,000 after purchasing an additional 19,900 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Terreno Realty by 51.6% in the 4th quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock worth $109,150,000 after purchasing an additional 628,065 shares in 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.