Terreno Realty (NYSE:TRNO) Price Target Raised to $70.00

Terreno Realty (NYSE:TRNO) had its price target boosted by Scotiabank from $59.00 to $70.00 in a research report released on Monday, Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group raised their price objective on shares of Terreno Realty from $60.00 to $68.00 and gave the company a neutral rating in a research note on Monday, August 12th. BNP Paribas started coverage on shares of Terreno Realty in a research note on Tuesday, June 4th. They issued an outperform rating and a $68.00 target price for the company. Wedbush reiterated a neutral rating and issued a $70.00 target price (up previously from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. StockNews.com raised shares of Terreno Realty from a sell rating to a hold rating in a research note on Tuesday, August 13th. Finally, Barclays dropped their target price on shares of Terreno Realty from $71.00 to $68.00 and set an overweight rating for the company in a research report on Friday, May 24th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $69.56.

Terreno Realty Stock Down 2.3 %

Shares of NYSE TRNO opened at $68.58 on Monday. The firm has a market cap of $6.65 billion, a PE ratio of 35.72, a P/E/G ratio of 3.17 and a beta of 0.89. Terreno Realty has a 12-month low of $50.42 and a 12-month high of $71.63. The company’s fifty day simple moving average is $65.31 and its 200 day simple moving average is $61.69. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.86%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, September 30th. Terreno Realty’s payout ratio is presently 93.75%.

Insider Buying and Selling

In related news, CFO Jaime Jackson Cannon sold 4,998 shares of Terreno Realty stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the transaction, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of Terreno Realty stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the transaction, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Michael A. Coke sold 7,500 shares of the business’s stock in a transaction on 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 in the company, valued at $27,560,298.92. 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 over the last three months. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its holdings in Terreno Realty by 7.0% in the 2nd quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 312 shares in the last quarter. Algert Global LLC bought a new position in shares of Terreno Realty in the 2nd quarter worth about $573,000. The Manufacturers Life Insurance Company increased its stake in shares of Terreno Realty by 14.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,584 shares of the real estate investment trust’s stock worth $3,940,000 after acquiring an additional 8,336 shares in the last quarter. DigitalBridge Group Inc. increased its stake in shares of Terreno Realty by 30.1% in the 2nd quarter. DigitalBridge Group Inc. now owns 175,288 shares of the real estate investment trust’s stock worth $10,374,000 after acquiring an additional 40,600 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Terreno Realty by 48.4% in the 2nd quarter. AQR Capital Management LLC now owns 44,114 shares of the real estate investment trust’s stock worth $2,611,000 after acquiring an additional 14,386 shares in the last quarter.

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.