Barclays Lowers Terreno Realty (NYSE:TRNO) Price Target to $68.00

Terreno Realty (NYSE:TRNO) had its price objective lowered by Barclays from $69.00 to $68.00 in a research report released on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Wedbush restated a “neutral” rating and set a $70.00 price target (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Wells Fargo & Company downgraded shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $71.00 to $75.00 in a report on Wednesday, August 28th. Mizuho restated an “underperform” rating and set a $62.00 target price on shares of Terreno Realty in a report on Thursday, September 5th. Finally, Scotiabank lowered their price objective on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $69.22.

Terreno Realty Stock Down 2.3 %

TRNO opened at $59.95 on Monday. The company has a market cap of $5.80 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 2.84 and a beta of 0.90. Terreno Realty has a twelve month low of $52.42 and a twelve month high of $71.63. The company has a 50-day moving average price of $66.38 and a 200 day moving average price of $62.51. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The firm had revenue of $94.25 million for the quarter, compared to analyst estimates of $89.07 million. Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. Sell-side analysts expect that Terreno Realty will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The firm 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. The ex-dividend date was Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a yield of 3.27%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s payout ratio is currently 102.08%.

Insider Activity

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

Institutional Trading of Terreno Realty

Hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. increased its stake in Terreno Realty by 112.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 24,869 shares of the real estate investment trust’s stock worth $1,662,000 after buying an additional 13,157 shares during the period. US Bancorp DE raised its stake in shares of Terreno Realty by 7.2% in the third quarter. US Bancorp DE now owns 30,378 shares of the real estate investment trust’s stock valued at $2,030,000 after acquiring an additional 2,040 shares in the last quarter. Congress Asset Management Co. boosted its holdings in Terreno Realty by 8.2% in the third quarter. Congress Asset Management Co. now owns 261,033 shares of the real estate investment trust’s stock valued at $17,445,000 after purchasing an additional 19,738 shares during the period. Financial Advocates Investment Management purchased a new position in Terreno Realty in the third quarter valued at $205,000. Finally, Diversify Wealth Management LLC increased its holdings in Terreno Realty by 14.4% during the 3rd quarter. Diversify Wealth Management LLC now owns 4,959 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 625 shares during the period.

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.