Terreno Realty (NYSE:TRNO) Reaches New 12-Month Low Following Analyst Downgrade

Terreno Realty Co. (NYSE:TRNO - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday after Scotiabank lowered their price target on the stock from $68.00 to $57.00. Scotiabank currently has a sector perform rating on the stock. Terreno Realty traded as low as $52.28 and last traded at $53.27, with a volume of 515615 shares trading hands. The stock had previously closed at $55.86.

Several other brokerages have also recently commented on TRNO. BMO Capital Markets increased 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 report on Wednesday, February 12th. Piper Sandler downgraded Terreno Realty from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $78.00 to $61.00 in a report on Monday, April 7th. The Goldman Sachs Group upgraded Terreno Realty from a "neutral" rating to a "buy" rating and boosted their price target for the company from $65.00 to $77.00 in a report on Friday, February 21st. Barclays reduced their price objective on Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a "hold" rating and a $60.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $66.55.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRNO. Manchester Capital Management LLC bought a new stake in shares of Terreno Realty during the fourth quarter valued at approximately $27,000. Steward Partners Investment Advisory LLC raised its stake in Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 361 shares in the last quarter. Quarry LP boosted its position in Terreno Realty by 613.7% during the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 626 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Terreno Realty by 94.6% in the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 370 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Terreno Realty during the fourth quarter valued at $71,000.

Terreno Realty Trading Up 1.1 %

The business's 50 day moving average is $64.12 and its two-hundred day moving average is $62.66. The firm has a market capitalization of $5.62 billion, a P/E ratio of 28.42, a PEG ratio of 2.82 and a beta of 1.00. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share 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%. Analysts expect that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Thursday, March 27th. Terreno Realty's payout ratio is currently 102.08%.

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.