Barclays Cuts Terreno Realty (NYSE:TRNO) Price Target to $68.00

Terreno Realty (NYSE:TRNO) had its target price trimmed by Barclays from $69.00 to $68.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on TRNO. Scotiabank decreased their price target on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. Mizuho reissued an “underperform” rating and issued a $62.00 target price on shares of Terreno Realty in a research note on Thursday, September 5th. Wolfe Research upgraded shares of Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. The Goldman Sachs Group upped their price objective on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $69.22.

Terreno Realty Stock Performance

NYSE:TRNO opened at $61.36 on Monday. The firm’s 50-day moving average is $66.56 and its 200-day moving average is $62.53. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.84 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. Terreno Realty has a 52-week low of $52.42 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. The firm had revenue of $94.25 million during the quarter, compared to analyst estimates of $89.07 million. Equities research analysts anticipate that Terreno Realty will post 2.41 earnings per share for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.49 per share. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.96 annualized dividend and a yield of 3.19%. Terreno Realty’s dividend payout ratio is 102.08%.

Insiders Place Their Bets

In other news, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following the transaction, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Jaime Jackson Cannon sold 4,998 shares of Terreno Realty stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.64, for a total value of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares in the company, valued at $7,618,216.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,643 shares of company stock valued at $1,277,581 in the last 90 days. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Terreno Realty

Institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. boosted its stake in Terreno Realty by 112.3% in the third quarter. Harbor Capital Advisors Inc. now owns 24,869 shares of the real estate investment trust’s stock valued at $1,662,000 after acquiring an additional 13,157 shares during the last quarter. US Bancorp DE lifted its stake in shares of Terreno Realty by 7.2% in the 3rd quarter. US Bancorp DE now owns 30,378 shares of the real estate investment trust’s stock valued at $2,030,000 after purchasing an additional 2,040 shares during the period. Congress Asset Management Co. boosted its position in shares of Terreno Realty by 8.2% in the 3rd quarter. Congress Asset Management Co. now owns 261,033 shares of the real estate investment trust’s stock worth $17,445,000 after purchasing an additional 19,738 shares during the last quarter. Financial Advocates Investment Management acquired a new stake in shares of Terreno Realty during the third quarter worth $205,000. Finally, Diversify Wealth Management LLC increased its holdings in Terreno Realty by 14.4% in the third quarter. Diversify Wealth Management LLC now owns 4,959 shares of the real estate investment trust’s stock valued at $316,000 after purchasing an additional 625 shares during the last quarter.

Terreno Realty Company Profile

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.