Mizuho Reaffirms Underperform Rating for Terreno Realty (NYSE:TRNO)

Mizuho reiterated their underperform rating on shares of Terreno Realty (NYSE:TRNO) in a research note issued to investors on Thursday morning, Marketbeat reports. They currently have a $62.00 price objective on the real estate investment trust’s stock.

Other analysts have also issued research reports about the company. Barclays lowered their price target on Terreno Realty from $71.00 to $68.00 and set an overweight rating for the company in a report on Friday, May 24th. Scotiabank boosted their price target on Terreno Realty from $59.00 to $70.00 and gave the company a sector perform rating in a report on Monday, August 26th. JMP Securities boosted their price target on Terreno Realty from $65.00 to $72.00 and gave the company a market outperform rating in a report on Tuesday, August 13th. The Goldman Sachs Group boosted their price target on Terreno Realty from $60.00 to $68.00 and gave the company a neutral rating in a report on Monday, August 12th. Finally, Wells Fargo & Company lowered Terreno Realty from an overweight rating to an equal weight rating and boosted their price target for the company from $71.00 to $75.00 in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $69.56.

Terreno Realty Stock Up 0.2 %

Shares of NYSE:TRNO opened at $68.58 on Thursday. Terreno Realty has a 1 year low of $50.42 and a 1 year high of $71.63. The business has a 50 day simple moving average of $66.73 and a two-hundred day simple moving average of $61.99. The firm has a market capitalization of $6.63 billion, a PE ratio of 35.72, a price-to-earnings-growth ratio of 3.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.17). Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. The business had revenue of $94.25 million for the quarter, compared to analysts’ expectations of $89.07 million. On average, equities analysts predict that Terreno Realty will post 2.42 EPS for the current year.

Terreno Realty Increases Dividend

The firm also recently disclosed 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 is an increase from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a yield of 2.86%. Terreno Realty’s payout ratio is 102.08%.

Insider Transactions at Terreno Realty

In other news, EVP John Tull Meyer sold 6,145 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the sale, the executive vice president now owns 110,988 shares in the company, valued at approximately $7,618,216.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Michael A. Coke sold 7,500 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.53, for a total transaction of $513,975.00. Following the completion of the sale, the president now owns 402,164 shares in the company, valued at approximately $27,560,298.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.64, for a total value of $421,792.80. Following the sale, the executive vice president now owns 110,988 shares of the company’s stock, valued at approximately $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 valued at $1,277,581. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Terreno Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRNO. Thrivent Financial for Lutherans raised its stake in Terreno Realty by 238.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,327,932 shares of the real estate investment trust’s stock worth $78,587,000 after acquiring an additional 935,418 shares during the last quarter. Vanguard Group Inc. raised its stake in Terreno Realty by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock worth $861,988,000 after acquiring an additional 919,851 shares during the last quarter. Norges Bank purchased a new position in Terreno Realty in the 4th quarter worth $54,302,000. Principal Financial Group Inc. raised its stake in Terreno Realty by 16.4% in the 1st quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock worth $342,322,000 after acquiring an additional 727,995 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Terreno Realty by 91,086.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 713,076 shares of the real estate investment trust’s stock worth $44,688,000 after acquiring an additional 712,294 shares during the last quarter.

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.