Terreno Realty (NYSE:TRNO) Given New $73.00 Price Target at BMO Capital Markets

Terreno Realty (NYSE:TRNO) had its price target upped by BMO Capital Markets from $71.00 to $73.00 in a research report released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on the stock. 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 note on Friday, October 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective for the company. Barclays reaffirmed an “equal weight” rating and issued a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Piper Sandler decreased their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a report on Monday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $68.45.

Terreno Realty Trading Down 0.6 %

TRNO opened at $66.52 on Wednesday. The firm has a market capitalization of $6.64 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.85 and a beta of 0.91. The firm’s 50 day moving average is $61.81 and its 200-day moving average is $64.03. Terreno Realty has a 52-week low of $53.78 and a 52-week high of $71.63. The company has a quick ratio of 2.71, a current ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Terreno Realty will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The company 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. This represents a $1.96 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

Institutional Investors Weigh In On Terreno Realty

Several institutional investors have recently bought and sold shares of TRNO. Creative Planning lifted its holdings in Terreno Realty by 7.0% in the second quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 312 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Terreno Realty by 6.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,140 shares of the real estate investment trust’s stock worth $1,279,000 after acquiring an additional 1,087 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Terreno Realty in the third quarter worth about $26,000. Blue Trust Inc. raised its position in Terreno Realty by 72.6% in the third quarter. Blue Trust Inc. now owns 3,067 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 1,290 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Terreno Realty by 16.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 482,554 shares of the real estate investment trust’s stock worth $32,249,000 after acquiring an additional 67,294 shares in 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.