Zacks: Analysts Expect Terreno Realty Co. (TRNO) Will Post Earnings of $0.34 Per Share

Wall Street analysts expect that Terreno Realty Co. (NYSE:TRNO) will report $0.34 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Terreno Realty’s earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.34. Terreno Realty posted earnings per share of $0.29 in the same quarter last year, which indicates a positive year over year growth rate of 17.2%. The company is expected to issue its next quarterly earnings results on Wednesday, February 6th.

On average, analysts expect that Terreno Realty will report full-year earnings of $1.30 per share for the current year, with EPS estimates ranging from $1.28 to $1.32. For the next fiscal year, analysts anticipate that the company will post earnings of $1.38 per share, with EPS estimates ranging from $1.35 to $1.42. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Terreno Realty.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Terreno Realty had a net margin of 34.83% and a return on equity of 4.68%. The company had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $37.68 million.

A number of research analysts recently issued reports on TRNO shares. KeyCorp lifted their price target on shares of Terreno Realty from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. JMP Securities reissued a “hold” rating on shares of Terreno Realty in a research report on Tuesday, October 16th. Mizuho started coverage on shares of Terreno Realty in a research report on Wednesday, October 3rd. They set a “neutral” rating for the company. ValuEngine cut shares of Terreno Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Zacks Investment Research cut shares of Terreno Realty from a “buy” rating to a “hold” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.50.

A number of institutional investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. raised its holdings in Terreno Realty by 6.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 35,980 shares of the real estate investment trust’s stock worth $1,356,000 after buying an additional 2,260 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Terreno Realty by 479.3% in the third quarter. JPMorgan Chase & Co. now owns 1,622,069 shares of the real estate investment trust’s stock worth $61,152,000 after buying an additional 1,342,083 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Terreno Realty by 2.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,642 shares of the real estate investment trust’s stock worth $2,211,000 after buying an additional 1,350 shares during the last quarter. Bessemer Group Inc. purchased a new position in Terreno Realty in the third quarter worth about $256,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Terreno Realty by 123.9% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 90,275 shares of the real estate investment trust’s stock valued at $3,403,000 after purchasing an additional 49,960 shares during the last quarter. 97.51% of the stock is owned by institutional investors and hedge funds.

NYSE TRNO traded down $0.20 during trading hours on Monday, reaching $38.95. 7,020 shares of the company’s stock traded hands, compared to its average volume of 361,599. Terreno Realty has a 52-week low of $31.56 and a 52-week high of $39.26. The stock has a market cap of $2.28 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 2.96 and a beta of 0.69. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.16 and a quick ratio of 0.16.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Tuesday, December 18th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.96 annualized dividend and a yield of 2.46%. Terreno Realty’s dividend payout ratio (DPR) is presently 88.07%.

About Terreno Realty

Terreno Realty Corporation 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

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