Terreno Realty Co. (NYSE:TRNO) Given Consensus Recommendation of “Hold” by Brokerages

Terreno Realty Co. (NYSE:TRNO) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $65.00.

Several analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Terreno Realty from $57.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 27th. Scotiabank reduced their price objective on shares of Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating for the company in a research report on Monday, April 7th. JMP Securities restated a “market outperform” rating and set a $72.00 price objective on shares of Terreno Realty in a research report on Monday, February 10th. Piper Sandler reduced their price objective on shares of Terreno Realty from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th.

Institutional Investors Weigh In On Terreno Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC purchased a new stake in shares of Terreno Realty in the fourth quarter valued at about $27,000. Geneos Wealth Management Inc. raised its holdings in shares of Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 350 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Terreno Realty by 176.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 361 shares during the last quarter. Quarry LP raised its holdings in shares of Terreno Realty by 613.7% in the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 626 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings 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 valued at $45,000 after buying an additional 370 shares during the last quarter.

Terreno Realty Stock Up 1.3%

Shares of NYSE:TRNO opened at $59.82 on Tuesday. The company has a market capitalization of $6.18 billion, a PE ratio of 31.16, a P/E/G ratio of 2.82 and a beta of 1.07. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty has a twelve month low of $48.18 and a twelve month high of $71.63. The firm has a 50 day simple moving average of $56.56 and a 200-day simple moving average of $61.02.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.49 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.28%. Terreno Realty’s payout ratio is 98.49%.

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.