Terreno Realty (NYSE:TRNO) Price Target Cut to $57.00 by Analysts at Barclays

Terreno Realty (NYSE:TRNO) had its price target cut by Barclays from $60.00 to $57.00 in a research note released on Tuesday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on TRNO. Piper Sandler dropped their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and upped their price objective for the company from $65.00 to $77.00 in a report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. BMO Capital Markets boosted their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Finally, Scotiabank raised their price objective on shares of Terreno Realty from $64.00 to $68.00 and gave the stock a “sector perform” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Terreno Realty currently has an average rating of “Hold” and a consensus target price of $69.09.

Terreno Realty Stock Performance

NYSE TRNO opened at $63.10 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $6.30 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. Terreno Realty has a 52-week low of $53.78 and a 52-week high of $71.63. The company has a 50-day simple moving average of $66.08 and a 200 day simple moving average of $63.70.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts predict that Terreno Realty will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be paid a $0.49 dividend. The ex-dividend date is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 3.11%. Terreno Realty’s dividend payout ratio is presently 102.08%.

Institutional Trading of Terreno Realty

Several institutional investors and hedge funds have recently made changes to their positions in TRNO. Pathstone Holdings LLC increased its stake in Terreno Realty by 4.4% in the third quarter. Pathstone Holdings LLC now owns 23,624 shares of the real estate investment trust’s stock valued at $1,579,000 after acquiring an additional 995 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Terreno Realty during the 3rd quarter valued at about $1,397,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Terreno Realty by 22.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock valued at $115,475,000 after buying an additional 315,506 shares in the last quarter. Citigroup Inc. lifted its position in Terreno Realty by 48.5% in the 3rd quarter. Citigroup Inc. now owns 103,289 shares of the real estate investment trust’s stock worth $6,903,000 after buying an additional 33,743 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Terreno Realty by 5.3% in the third quarter. The Manufacturers Life Insurance Company now owns 70,103 shares of the real estate investment trust’s stock worth $4,685,000 after buying an additional 3,519 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.