Terreno Realty (NYSE:TRNO) Earns "Market Outperform" Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Terreno Realty (NYSE:TRNO - Free Report) in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a $72.00 price objective on the real estate investment trust's stock.

A number of other brokerages also recently weighed in on TRNO. Barclays reaffirmed an "equal weight" rating and set a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Piper Sandler lowered their target price on Terreno Realty from $80.00 to $78.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Scotiabank reduced their price objective on Terreno Realty from $70.00 to $67.00 and set a "sector perform" rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a research note on Tuesday, January 14th. They set a "hold" rating and a $60.00 price objective for the company. Finally, BMO Capital Markets initiated coverage on Terreno Realty in a research note on Tuesday, February 4th. They issued a "market perform" rating and a $71.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $68.45.

Terreno Realty Stock Up 1.1 %

Terreno Realty stock traded up $0.73 during midday trading on Monday, hitting $67.21. The stock had a trading volume of 529,093 shares, compared to its average volume of 874,741. The company has a current ratio of 0.23, a quick ratio of 2.71 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average price of $61.95 and a 200 day moving average price of $64.05. Terreno Realty has a 12 month low of $53.78 and a 12 month high of $71.63. The stock has a market cap of $6.71 billion, a P/E ratio of 35.04, a P/E/G ratio of 2.85 and a beta of 0.91.

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, beating analysts' consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Research analysts predict that Terreno Realty will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 2.92%. Terreno Realty's dividend payout ratio is presently 102.08%.

Institutional Trading of Terreno Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Terreno Realty by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock valued at $902,293,000 after acquiring an additional 1,484,301 shares in the last quarter. FMR LLC boosted its stake in Terreno Realty by 5.9% during the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock valued at $663,987,000 after purchasing an additional 628,116 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Terreno Realty by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust's stock valued at $144,031,000 after purchasing an additional 19,900 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Terreno Realty by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust's stock worth $108,729,000 after buying an additional 110,610 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Terreno Realty by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust's stock valued at $76,183,000 after buying an additional 14,995 shares during the period.

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.