Terreno Realty (NYSE:TRNO) Reaches New 12-Month High – Time to Buy?

Shares of Terreno Realty Corporation (NYSE:TRNO) hit a new 52-week high during trading on Friday . The stock traded as high as $67.04 and last traded at $66.6750, with a volume of 305092 shares changing hands. The stock had previously closed at $65.76.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Terreno Realty from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Robert W. Baird set a $67.00 price objective on shares of Terreno Realty in a research report on Wednesday, February 11th. Citigroup lifted their price objective on shares of Terreno Realty from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Weiss Ratings raised shares of Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 22nd. Finally, UBS Group set a $72.00 price objective on shares of Terreno Realty in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

Terreno Realty Trading Up 1.7%

The firm has a market cap of $7.10 billion, a P/E ratio of 17.14 and a beta of 1.12. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $63.93 and its 200 day simple moving average is $61.64.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $1.53 EPS for the quarter, topping the consensus estimate of $0.85 by $0.68. The business had revenue of $137.48 million for the quarter, compared to analyst estimates of $124.72 million. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. As a group, analysts expect that Terreno Realty Corporation will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 27th were paid a $0.52 dividend. The ex-dividend date was Friday, March 27th. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. Terreno Realty’s dividend payout ratio (DPR) is presently 53.33%.

Hedge Funds Weigh In On Terreno Realty

Large investors have recently modified their holdings of the business. Congress Asset Management Co. increased its stake in shares of Terreno Realty by 4.8% in the third quarter. Congress Asset Management Co. now owns 545,558 shares of the real estate investment trust’s stock worth $30,960,000 after purchasing an additional 25,202 shares in the last quarter. Strs Ohio increased its stake in shares of Terreno Realty by 131.6% in the third quarter. Strs Ohio now owns 286,300 shares of the real estate investment trust’s stock worth $16,248,000 after purchasing an additional 162,700 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Terreno Realty by 16.5% in the third quarter. Bessemer Group Inc. now owns 564,695 shares of the real estate investment trust’s stock worth $32,046,000 after purchasing an additional 79,964 shares in the last quarter. Castellan Group purchased a new position in shares of Terreno Realty in the third quarter worth about $3,578,000. Finally, DigitalBridge Group Inc. increased its stake in shares of Terreno Realty by 29.0% in the third quarter. DigitalBridge Group Inc. now owns 346,700 shares of the real estate investment trust’s stock worth $18,649,000 after purchasing an additional 78,000 shares in the last quarter.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.