Scotiabank Cuts Terreno Realty (NYSE:TRNO) Price Target to $67.00

Terreno Realty (NYSE:TRNO) had its price objective trimmed by Scotiabank from $70.00 to $67.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. Mizuho reaffirmed an “underperform” rating and issued a $62.00 price objective on shares of Terreno Realty in a research report on Thursday, September 5th. The Goldman Sachs Group increased their target price on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. StockNews.com cut Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, JMP Securities increased their price objective on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $69.22.

Terreno Realty Stock Performance

Shares of TRNO opened at $61.47 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The stock has a market cap of $5.94 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.92 and a beta of 0.90. The business’s 50 day moving average price is $66.96 and its 200-day moving average price is $62.52. Terreno Realty has a 52 week low of $50.65 and a 52 week high of $71.63.

Terreno Realty (NYSE:TRNO) last released its 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 return on equity of 5.08% and a net margin of 45.69%. The company had revenue of $94.25 million during the quarter, compared to the consensus estimate of $89.07 million. Equities research analysts anticipate that Terreno Realty will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.19%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Insider Activity

In related news, President Michael A. Coke sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.53, for a total transaction of $513,975.00. Following the completion of the sale, the president now directly owns 402,164 shares in the company, valued at approximately $27,560,298.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Terreno Realty news, President Michael A. Coke sold 7,500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.53, for a total value of $513,975.00. Following the transaction, the president now directly owns 402,164 shares in the company, valued at approximately $27,560,298.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the sale, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,643 shares of company stock valued at $1,277,581 in the last quarter. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Terreno Realty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Advocates Investment Management bought a new position in shares of Terreno Realty during the 3rd quarter valued at approximately $205,000. Diversify Wealth Management LLC lifted its holdings in Terreno Realty by 14.4% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Terreno Realty by 35.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,753 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 986 shares during the period. Moody Aldrich Partners LLC increased its stake in shares of Terreno Realty by 34.9% in the third quarter. Moody Aldrich Partners LLC now owns 106,741 shares of the real estate investment trust’s stock worth $7,134,000 after purchasing an additional 27,617 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Terreno Realty by 6,580.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 987 shares during the period.

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.