Terreno Realty’s (TRNO) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Terreno Realty (NYSE:TRNO) in a research report released on Monday,Benzinga reports. The brokerage currently has a $72.00 price objective on the real estate investment trust’s stock.

Several other research firms have also recently weighed in on TRNO. Deutsche Bank Aktiengesellschaft began coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price for the company. Piper Sandler lowered their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. BMO Capital Markets initiated 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. Barclays restated an “equal weight” rating and issued a $60.00 target price (down previously from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Finally, Scotiabank dropped their price target on shares of 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.45.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $66.52 on Monday. The company has a market capitalization of $6.64 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.71 and a current ratio of 0.23. Terreno Realty has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The company’s 50-day moving average is $61.81 and its 200 day moving average is $64.03.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, equities research analysts forecast that Terreno Realty will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s payout ratio is 102.08%.

Institutional Investors Weigh In On Terreno Realty

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Terreno Realty by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock worth $902,293,000 after buying an additional 1,484,301 shares during the last quarter. FMR LLC raised its stake in Terreno Realty by 16.4% during the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock worth $708,348,000 after acquiring an additional 1,496,666 shares during the period. Geode Capital Management LLC raised its stake in Terreno Realty by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust’s stock worth $144,031,000 after acquiring an additional 19,900 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Terreno Realty by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust’s stock valued at $108,729,000 after purchasing an additional 110,610 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Terreno Realty by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust’s stock worth $76,183,000 after purchasing an additional 14,995 shares in the last quarter.

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.