Terreno Realty (NYSE:TRNO) Hits New 1-Year Low After Analyst Downgrade

Shares of Terreno Realty Co. (NYSE:TRNO) hit a new 52-week low during mid-day trading on Monday after Scotiabank lowered their price target on the stock from $68.00 to $57.00. Scotiabank currently has a sector perform rating on the stock. Terreno Realty traded as low as $52.28 and last traded at $53.27, with a volume of 515615 shares. The stock had previously closed at $55.86.

Several other analysts have also recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Piper Sandler lowered Terreno Realty from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $78.00 to $61.00 in a research note on Monday. Barclays cut their target price on shares of Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Tuesday, March 25th. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $77.00 in a research report on Friday, February 21st. Finally, BMO Capital Markets boosted their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Two equities 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 $66.55.

Institutional Investors Weigh In On Terreno Realty

Several large investors have recently added to or reduced their stakes in TRNO. Manchester Capital Management LLC purchased a new position in shares of Terreno Realty during the fourth quarter worth approximately $27,000. Steward Partners Investment Advisory LLC raised its position in Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 361 shares in the last quarter. Quarry LP lifted its holdings in shares of Terreno Realty by 613.7% in the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 626 shares during the period. Quadrant Capital Group LLC grew its position in shares of Terreno Realty by 94.6% during the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 370 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Terreno Realty during the fourth quarter valued at $71,000.

Terreno Realty Price Performance

The firm has a fifty day moving average of $65.55 and a two-hundred day moving average of $63.20. The stock has a market capitalization of $5.50 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23.

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 (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%. On average, analysts predict that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were paid a $0.49 dividend. The ex-dividend date was Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 3.67%. Terreno Realty’s dividend payout ratio (DPR) is presently 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.