Shares of Terreno Realty Co. (NYSE:TRNO) have received an average rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $48.67.
Several research firms have recently weighed in on TRNO. Zacks Investment Research cut Terreno Realty from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. KeyCorp increased their price target on Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Mitsubishi UFJ Financial Group increased their price target on Terreno Realty to $45.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. ValuEngine cut Terreno Realty from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Goldman Sachs Group began coverage on Terreno Realty in a report on Wednesday, May 15th. They set a “buy” rating and a $49.00 price target on the stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in shares of Terreno Realty during the 2nd quarter valued at $49,000. Quadrant Capital Group LLC raised its holdings in Terreno Realty by 11,547.4% in the 1st quarter. Quadrant Capital Group LLC now owns 2,213 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 2,194 shares during the period. Marshall Wace North America L.P. raised its holdings in Terreno Realty by 50.1% in the 1st quarter. Marshall Wace North America L.P. now owns 2,318 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 774 shares during the period. Nisa Investment Advisors LLC raised its holdings in Terreno Realty by 812.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,375 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 3,005 shares during the period. Finally, Assetmark Inc. raised its holdings in Terreno Realty by 8.9% in the 2nd quarter. Assetmark Inc. now owns 4,045 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 330 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.16%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, October 3rd.
Terreno Realty Company Profile
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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