Terreno Realty (NYSE:TRNO) Coverage Initiated at BMO Capital Markets

BMO Capital Markets began coverage on shares of Terreno Realty (NYSE:TRNO) in a report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a market perform rating and a $71.00 price objective on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on TRNO. Scotiabank decreased their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. JMP Securities reiterated a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a research report on Monday, January 6th. Barclays reiterated an “equal weight” rating and issued a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Terreno Realty presently has an average rating of “Hold” and an average price target of $68.27.

Terreno Realty Price Performance

TRNO stock opened at $67.60 on Tuesday. The company has a market capitalization of $6.74 billion, a P/E ratio of 37.14, a PEG ratio of 2.74 and a beta of 0.91. Terreno Realty has a twelve month low of $53.78 and a twelve month high of $71.63. The business has a 50 day simple moving average of $61.29 and a 200-day simple moving average of $64.09. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. As a group, equities analysts anticipate that Terreno Realty will post 2.42 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 102.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TRNO. Huntington National Bank boosted its stake in shares of Terreno Realty by 7.4% during the third quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 177 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Terreno Realty by 6.1% during the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 249 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Terreno Realty by 1.0% during the fourth quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock valued at $1,663,000 after acquiring an additional 276 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Terreno Realty by 1.1% during the third quarter. Handelsbanken Fonder AB now owns 27,830 shares of the real estate investment trust’s stock valued at $1,860,000 after acquiring an additional 300 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Terreno Realty by 7.0% during the second quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 312 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.