Terreno Realty (NYSE:TRNO) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Terreno Realty (NYSE:TRNO) from a neutral rating to a buy rating in a report released on Friday, MarketBeat.com reports. The firm currently has $77.00 target price on the real estate investment trust’s stock, up from their previous target price of $65.00.

TRNO has been the topic of several other reports. Barclays restated an “equal weight” rating and issued a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Scotiabank decreased their price target on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price target for the company. Piper Sandler reduced their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.27.

Terreno Realty Stock Performance

Shares of TRNO opened at $67.08 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty has a 52-week low of $53.78 and a 52-week high of $71.63. The company has a 50-day simple moving average of $62.56 and a 200-day simple moving average of $64.03. The company has a market capitalization of $6.69 billion, a PE ratio of 34.94, a P/E/G ratio of 2.82 and a beta of 0.91.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Equities research analysts predict that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be paid a $0.49 dividend. The ex-dividend date is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.92%. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Institutional Trading of Terreno Realty

Institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in shares of Terreno Realty by 39.3% in the 3rd quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock valued at $6,156,000 after purchasing an additional 25,988 shares in the last quarter. Barclays PLC increased its holdings in Terreno Realty by 131.0% in the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock valued at $11,360,000 after buying an additional 96,380 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Terreno Realty by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock valued at $115,475,000 after buying an additional 315,506 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Terreno Realty by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after buying an additional 8,940 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Terreno Realty in the 3rd quarter worth approximately $225,000.

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.