Terreno Realty (NYSE:TRNO) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Terreno Realty (NYSE:TRNO – Get Rating) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

A number of other research firms also recently issued reports on TRNO. Scotiabank downgraded Terreno Realty from a sector outperform rating to a sector perform rating and decreased their price objective for the stock from $73.00 to $54.00 in a report on Monday, October 17th. Piper Sandler cut their target price on Terreno Realty from $73.00 to $69.00 and set an overweight rating on the stock in a research note on Friday, October 7th. Stifel Nicolaus initiated coverage on Terreno Realty in a research note on Wednesday, October 12th. They issued a buy rating and a $62.00 target price on the stock. TheStreet raised Terreno Realty from a c+ rating to a b- rating in a research note on Wednesday, November 30th. Finally, JMP Securities cut their target price on Terreno Realty from $75.00 to $69.00 and set a market outperform rating on the stock in a research note on Monday, October 10th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $66.67.

Terreno Realty Price Performance

TRNO opened at $63.46 on Tuesday. The stock has a fifty day simple moving average of $58.58 and a two-hundred day simple moving average of $58.53. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.38. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 27.96 and a beta of 0.78. Terreno Realty has a 12-month low of $50.36 and a 12-month high of $81.01.

Terreno Realty (NYSE:TRNO – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The firm had revenue of $70.80 million during the quarter, compared to the consensus estimate of $66.95 million. Terreno Realty had a return on equity of 8.14% and a net margin of 65.44%. Research analysts predict that Terreno Realty will post 1.97 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $1.60 annualized dividend and a yield of 2.52%. Terreno Realty’s payout ratio is 70.48%.

Insiders Place Their Bets

In other Terreno Realty news, Director Leroy E. Carlson sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $58.49, for a total value of $233,960.00. Following the transaction, the director now directly owns 37,791 shares of the company’s stock, valued at $2,210,395.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Truist Financial Corp raised its stake in shares of Terreno Realty by 1.6% in the second quarter. Truist Financial Corp now owns 10,833 shares of the real estate investment trust’s stock worth $604,000 after buying an additional 167 shares during the period. Sage Rhino Capital LLC raised its stake in shares of Terreno Realty by 0.9% in the third quarter. Sage Rhino Capital LLC now owns 23,794 shares of the real estate investment trust’s stock worth $1,261,000 after buying an additional 207 shares during the period. Amalgamated Bank raised its stake in shares of Terreno Realty by 2.2% in the third quarter. Amalgamated Bank now owns 9,657 shares of the real estate investment trust’s stock worth $512,000 after buying an additional 211 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Terreno Realty by 46.4% in the second quarter. First Horizon Advisors Inc. now owns 669 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 212 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Terreno Realty by 1.2% in the second quarter. Arizona State Retirement System now owns 20,459 shares of the real estate investment trust’s stock worth $1,140,000 after buying an additional 234 shares during the period. 98.53% of the stock is owned by hedge funds and other institutional investors.

About Terreno Realty

(Get Rating)

Terreno Realty Corp. operates as a real estate company, which acquires, owns, and manages industrial properties. It invests in several types of industrial real estate, including warehouse/distribution, flex, research and development, and trans-shipment. The company was founded by Michael A. Coke and W.