Barclays Cuts Terreno Realty (NYSE:TRNO) Price Target to $68.00

Terreno Realty (NYSE:TRNO) had its target price cut by Barclays from $69.00 to $68.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

TRNO has been the subject of several other reports. Wedbush restated a “neutral” rating and set a $70.00 target price (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Mizuho reaffirmed an “underperform” rating and issued a $62.00 target price on shares of Terreno Realty in a report on Thursday, September 5th. The Goldman Sachs Group upped their price target on Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. JMP Securities lifted their price objective on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 13th. Finally, StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Terreno Realty presently has a consensus rating of “Hold” and a consensus target price of $69.22.

Terreno Realty Trading Up 0.7 %

NYSE:TRNO opened at $61.90 on Monday. The company has a market cap of $5.99 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.84 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $66.84 and a two-hundred day simple moving average of $62.53. Terreno Realty has a 12 month low of $50.88 and a 12 month high of $71.63.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The firm had revenue of $94.25 million for the quarter, compared to analysts’ expectations of $89.07 million. Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. Research analysts forecast that Terreno Realty will post 2.41 earnings per share for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.49 dividend. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Monday, September 30th. Terreno Realty’s payout ratio is currently 102.08%.

Insiders Place Their Bets

In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the sale, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Michael A. Coke sold 7,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.53, for a total value of $513,975.00. Following the sale, the president now directly owns 402,164 shares in the company, valued at $27,560,298.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following the completion of the transaction, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,643 shares of company stock worth $1,277,581 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Terreno Realty

A number of institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in Terreno Realty during the third quarter worth $26,000. Whittier Trust Co. grew its holdings in Terreno Realty by 123.4% during the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 337 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Terreno Realty in the 2nd quarter worth about $48,000. EntryPoint Capital LLC lifted its stake in Terreno Realty by 80.3% in the first quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 419 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Terreno Realty by 6,580.0% during the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 987 shares during the period.

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.