Terreno Realty (NYSE:TRNO) Given Market Outperform Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of Terreno Realty (NYSE:TRNO) in a report issued on Monday,Benzinga reports. They currently have a $72.00 price target on the real estate investment trust’s stock.

TRNO has been the topic of several other research reports. Piper Sandler dropped their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Barclays reiterated an “equal weight” rating and issued a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price for the company. BMO Capital Markets started coverage on Terreno Realty in a research note on Tuesday, February 4th. They issued a “market perform” rating and a $71.00 price target on the stock. Finally, Scotiabank dropped their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.27.

Terreno Realty Price Performance

NYSE:TRNO opened at $66.81 on Monday. The company has a 50 day moving average price of $61.55 and a 200-day moving average price of $64.05. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. Terreno Realty has a 1-year low of $53.78 and a 1-year high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 2.71.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Equities research analysts forecast that Terreno Realty will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 2.93%. Terreno Realty’s dividend payout ratio is presently 102.08%.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds and other institutional investors have recently bought and sold shares of TRNO. FMR LLC grew its stake in shares of Terreno Realty by 16.4% in the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock valued at $708,348,000 after buying an additional 1,496,666 shares during the period. Geode Capital Management LLC grew its position in Terreno Realty by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after acquiring an additional 8,940 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Terreno Realty by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust’s stock worth $108,729,000 after purchasing an additional 110,610 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Terreno Realty by 1.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust’s stock valued at $76,183,000 after buying an additional 14,995 shares during the period. Finally, Copeland Capital Management LLC lifted its position in Terreno Realty by 7.1% in the fourth quarter. Copeland Capital Management LLC now owns 1,209,144 shares of the real estate investment trust’s stock valued at $71,509,000 after buying an additional 79,701 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.