Terreno Realty (NYSE:TRNO) Hits New 12-Month Low on Analyst Downgrade

Terreno Realty Co. (NYSE:TRNO) hit a new 52-week low on Monday after Scotiabank lowered their price target on the stock from $68.00 to $57.00. Scotiabank currently has a sector perform rating on the stock. Terreno Realty traded as low as $52.28 and last traded at $53.27, with a volume of 515615 shares. The stock had previously closed at $55.86.

A number of other research analysts also recently issued reports on the company. Piper Sandler downgraded Terreno Realty from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $61.00 in a report on Monday. Barclays reduced their target price on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 25th. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $65.00 to $77.00 in a report on Friday, February 21st. BMO Capital Markets upped their price target on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.55.

Hedge Funds Weigh In On Terreno Realty

Hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC purchased a new position in Terreno Realty during the fourth quarter valued at $27,000. Steward Partners Investment Advisory LLC increased its position in shares of Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 361 shares during the last quarter. Quarry LP boosted its stake in Terreno Realty by 613.7% during the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 626 shares during the period. Quadrant Capital Group LLC increased its position in Terreno Realty by 94.6% during the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 370 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Terreno Realty in the 4th quarter worth about $71,000.

Terreno Realty Stock Performance

The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $5.50 billion, a PE ratio of 27.81, a PEG ratio of 2.82 and a beta of 1.00. The business’s 50 day moving average is $65.55 and its 200 day moving average is $63.20.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, equities research analysts predict that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were paid a $0.49 dividend. The ex-dividend date was Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 3.67%. Terreno Realty’s dividend payout ratio is currently 102.08%.

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.