Brokerages forecast that Terreno Realty Co. (NYSE:TRNO) will report $0.35 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Terreno Realty’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.32. Terreno Realty reported earnings per share of $0.34 during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The company is expected to issue its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that Terreno Realty will report full-year earnings of $1.37 per share for the current year, with EPS estimates ranging from $1.30 to $1.41. For the next year, analysts anticipate that the business will report earnings of $1.51 per share, with EPS estimates ranging from $1.45 to $1.55. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Terreno Realty.
A number of research firms recently issued reports on TRNO. Goldman Sachs Group began coverage on shares of Terreno Realty in a report on Wednesday, May 15th. They issued a “buy” rating and a $49.00 target price for the company. Mitsubishi UFJ Financial Group boosted their price objective on shares of Terreno Realty to $45.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Zacks Investment Research downgraded shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Tuesday. KeyCorp boosted their price objective on shares of Terreno Realty from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, ValuEngine downgraded shares of Terreno Realty from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $49.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.27 per share. This is an increase from Terreno Realty’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 2.18%. The ex-dividend date is Thursday, October 3rd.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. Norges Bank purchased a new stake in Terreno Realty during the fourth quarter worth approximately $26,019,000. Principal Financial Group Inc. boosted its stake in shares of Terreno Realty by 34.0% in the first quarter. Principal Financial Group Inc. now owns 1,702,479 shares of the real estate investment trust’s stock valued at $71,572,000 after purchasing an additional 432,198 shares during the period. Resolution Capital Ltd boosted its stake in shares of Terreno Realty by 19.4% in the second quarter. Resolution Capital Ltd now owns 2,295,083 shares of the real estate investment trust’s stock valued at $112,551,000 after purchasing an additional 372,881 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Terreno Realty by 10.5% in the second quarter. JPMorgan Chase & Co. now owns 2,581,068 shares of the real estate investment trust’s stock valued at $123,891,000 after purchasing an additional 245,941 shares during the period. Finally, FMR LLC boosted its stake in shares of Terreno Realty by 3.1% in the fourth quarter. FMR LLC now owns 4,367,421 shares of the real estate investment trust’s stock valued at $153,603,000 after purchasing an additional 132,935 shares during the period.
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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