Terreno Realty (NYSE:TRNO) Sees Strong Trading Volume

Terreno Realty Co. (NYSE:TRNO) saw strong trading volume on Tuesday . 1,072,218 shares traded hands during trading, an increase of 79% from the previous session’s volume of 599,269 shares.The stock last traded at $63.65 and had previously closed at $63.98.

Analyst Upgrades and Downgrades

TRNO has been the subject of a number of research analyst reports. Mizuho lowered their price target on Terreno Realty from $67.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, December 5th. StockNews.com upgraded Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. Piper Sandler raised their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Scotiabank increased their price target on Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a research report on Monday, February 12th. Finally, Barclays started coverage on Terreno Realty in a research report on Wednesday. They set an “overweight” rating and a $71.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.89.

Terreno Realty Price Performance

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 company’s 50 day simple moving average is $62.72 and its 200 day simple moving average is $59.73. The company has a market capitalization of $5.88 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.97 and a beta of 0.81.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share 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 the consensus estimate of $84.06 million. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. As a group, sell-side analysts predict that Terreno Realty Co. will post 2.39 earnings per share for the current year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Thursday, March 28th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is currently 99.45%.

Hedge Funds Weigh In On Terreno Realty

Institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Terreno Realty during the 1st quarter valued at about $28,000. Ronald Blue Trust Inc. raised its position in shares of Terreno Realty by 93.9% during the 3rd quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 260 shares during the period. SRS Capital Advisors Inc. lifted its stake in Terreno Realty by 337.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 408 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Terreno Realty in the 4th quarter valued at about $35,000. Finally, Pinebridge Investments L.P. bought a new stake in shares of Terreno Realty during the second quarter valued at approximately $49,000.

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.