Terreno Realty (NYSE:TRNO – Free Report) had its price target upped by Scotiabank from $68.00 to $72.00 in a report released on Wednesday morning, Marketbeat reports. The brokerage currently has a sector outperform rating on the real estate investment trust’s stock.
A number of other research analysts also recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Terreno Realty in a report on Friday, July 31st. Barclays increased their price objective on Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. UBS Group set a $68.00 price objective on Terreno Realty in a research report on Thursday, June 18th. Raymond James Financial began coverage on Terreno Realty in a research note on Wednesday, June 17th. They set an “underperform” rating on the stock. Finally, Robert W. Baird set a $69.00 target price on Terreno Realty in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.43.
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Terreno Realty Stock Performance
Terreno Realty (NYSE:TRNO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. The business had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. As a group, equities research analysts predict that Terreno Realty will post 2.82 EPS for the current year.
Terreno Realty Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a $0.57 dividend. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is 55.76%.
Insider Transactions at Terreno Realty
In other news, President Michael A. Coke sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the transaction, the president directly owned 425,381 shares in the company, valued at $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Tull Meyer sold 4,447 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the sale, the executive vice president directly owned 131,825 shares of the company’s stock, valued at $9,048,468. This represents a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company’s stock.
Institutional Investors Weigh In On Terreno Realty
A number of institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in shares of Terreno Realty by 90.2% during the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 378 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Terreno Realty by 304.3% during the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 350 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 189 shares in the last quarter. First Trust Advisors LP increased its holdings in Terreno Realty by 78.9% in the 2nd quarter. First Trust Advisors LP now owns 52,473 shares of the real estate investment trust’s stock valued at $2,942,000 after buying an additional 23,135 shares during the period. Finally, Amundi increased its holdings in Terreno Realty by 18.6% in the 2nd quarter. Amundi now owns 67,020 shares of the real estate investment trust’s stock valued at $3,799,000 after buying an additional 10,525 shares during the period.
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.
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