Terreno Realty (NYSE:TRNO) Hits New 1-Year High at $66.34

Terreno Realty Co. (NYSE:TRNO)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $66.34 and last traded at $65.89, with a volume of 79449 shares. The stock had previously closed at $65.33.

Analyst Ratings Changes

TRNO has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Mizuho reduced their target price on shares of Terreno Realty from $67.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, December 5th. Piper Sandler increased their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Wells Fargo & Company started coverage on Terreno Realty in a research note on Thursday, December 7th. They issued an “overweight” rating and a $71.00 price target for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $65.00 target price on shares of Terreno Realty in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $66.00.

Terreno Realty Stock Performance

The firm has a market capitalization of $5.95 billion, a PE ratio of 36.44, a P/E/G ratio of 2.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.68 and a quick ratio of 2.68. The business has a 50-day simple moving average of $62.72 and a 200-day simple moving average of $59.73.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.10. The business had revenue of $86.48 million during the quarter, compared to analyst estimates of $84.06 million. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. Equities research analysts expect that Terreno Realty Co. will post 2.39 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Wednesday, March 27th. Terreno Realty’s dividend payout ratio is presently 99.45%.

Hedge Funds Weigh In On Terreno Realty

Several institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. raised its stake in Terreno Realty by 6.8% in the first quarter. Advisor Group Holdings Inc. now owns 3,948 shares of the real estate investment trust’s stock worth $320,000 after buying an additional 253 shares in the last quarter. MetLife Investment Management LLC increased its position in Terreno Realty by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 39,255 shares of the real estate investment trust’s stock valued at $2,907,000 after buying an additional 13,997 shares in the last quarter. Rhumbline Advisers raised its stake in Terreno Realty by 17.2% in the first quarter. Rhumbline Advisers now owns 137,608 shares of the real estate investment trust’s stock valued at $10,190,000 after buying an additional 20,239 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Terreno Realty by 6.0% during the first quarter. Great West Life Assurance Co. Can now owns 63,883 shares of the real estate investment trust’s stock worth $4,907,000 after acquiring an additional 3,589 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Terreno Realty by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,336,796 shares of the real estate investment trust’s stock valued at $98,993,000 after purchasing an additional 22,692 shares during the last quarter.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) 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 All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.