JMP Securities Boosts Terreno Realty (NYSE:TRNO) Price Target to $72.00

Terreno Realty (NYSE:TRNO) had its price target boosted by JMP Securities from $65.00 to $72.00 in a research note released on Tuesday, Benzinga reports. JMP Securities currently has a market outperform rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the company a neutral rating in a research report on Monday. Wedbush reiterated a neutral rating and issued a $57.00 target price (down previously from $67.00) on shares of Terreno Realty in a research report on Tuesday, May 14th. Barclays dropped their target price on shares of Terreno Realty from $71.00 to $68.00 and set an overweight rating on the stock in a research report on Friday, May 24th. StockNews.com lowered shares of Terreno Realty from a hold rating to a sell rating in a research report on Wednesday, May 15th. Finally, BNP Paribas began coverage on shares of Terreno Realty in a research report on Tuesday, June 4th. They issued an outperform rating and a $68.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Terreno Realty currently has a consensus rating of Moderate Buy and an average target price of $66.44.

Terreno Realty Stock Up 0.4 %

TRNO stock opened at $67.75 on Tuesday. The firm has a market cap of $6.55 billion, a PE ratio of 35.29, a P/E/G ratio of 3.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The firm’s fifty day moving average is $63.27 and its 200 day moving average is $61.19. Terreno Realty has a one year low of $50.42 and a one year high of $69.74.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.49 per share. The ex-dividend date is Monday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a yield of 2.89%. Terreno Realty’s payout ratio is presently 102.08%.

Insider Buying and Selling

In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of Terreno Realty 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 transaction, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at $7,618,216.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Terreno Realty news, President Michael A. Coke sold 7,500 shares of Terreno Realty stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.53, for a total transaction of $513,975.00. Following the transaction, the president now directly owns 402,164 shares of the company’s stock, valued at $27,560,298.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of Terreno Realty stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares in the company, valued at $7,618,216.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,643 shares of company stock worth $1,277,581. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors and hedge funds have recently made changes to their positions in TRNO. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Terreno Realty by 1.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,394 shares of the real estate investment trust’s stock valued at $2,469,000 after acquiring an additional 689 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Terreno Realty by 6.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 98,648 shares of the real estate investment trust’s stock valued at $6,182,000 after acquiring an additional 6,102 shares during the period. Cornercap Investment Counsel Inc. raised its stake in shares of Terreno Realty by 3.1% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 12,741 shares of the real estate investment trust’s stock valued at $798,000 after acquiring an additional 380 shares during the period. Mackenzie Financial Corp raised its stake in shares of Terreno Realty by 17.7% in the 4th quarter. Mackenzie Financial Corp now owns 8,597 shares of the real estate investment trust’s stock valued at $539,000 after acquiring an additional 1,294 shares during the period. Finally, Tandem Investment Advisors Inc. raised its stake in shares of Terreno Realty by 40.2% in the 4th quarter. Tandem Investment Advisors Inc. now owns 977,150 shares of the real estate investment trust’s stock valued at $61,238,000 after acquiring an additional 280,109 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.