Terreno Realty (NYSE:TRNO) Shares Gap Down Following Analyst Downgrade

Shares of Terreno Realty Co. (NYSE:TRNO) gapped down prior to trading on Tuesday after Barclays lowered their price target on the stock from $60.00 to $57.00. The stock had previously closed at $64.04, but opened at $62.55. Barclays currently has an equal weight rating on the stock. Terreno Realty shares last traded at $63.43, with a volume of 41,641 shares trading hands.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Piper Sandler dropped their target price 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. JMP Securities reissued a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research report on Monday, February 10th. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $77.00 in a research report on Friday, February 21st. Finally, Scotiabank lifted their price objective on shares of Terreno Realty from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Friday, February 28th. Two 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $69.09.

Hedge Funds Weigh In On Terreno Realty

A number of institutional investors have recently bought and sold shares of the business. Manchester Capital Management LLC acquired a new stake in Terreno Realty during the 4th quarter worth about $27,000. Steward Partners Investment Advisory LLC raised its position in Terreno Realty by 176.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 361 shares in the last quarter. Quarry LP raised its position in Terreno Realty by 613.7% during the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 626 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Terreno Realty by 94.6% in the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 370 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new stake in Terreno Realty in the 4th quarter worth approximately $71,000.

Terreno Realty Stock Down 1.6 %

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 firm has a market cap of $6.29 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 2.82 and a beta of 0.93. The business’s 50 day moving average price is $65.96 and its 200 day moving average price is $63.71.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share 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%. On average, equities analysts forecast that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

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

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.