Key Points
- Terreno Realty President Michael Coke sold 8,000 shares at an average price of $68.38, generating $547,040 and reducing his ownership by 1.85%.
- The REIT exceeded quarterly EPS expectations, reporting $0.54 versus the $0.41 consensus estimate, although revenue of $124.71 million fell short of forecasts.
- Terreno increased its quarterly dividend to $0.57 per share, equivalent to an annualized $2.28 payout and a 3.3% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $71.93.
Terreno Realty Corporation (NYSE:TRNO - Get Free Report) President Michael Coke sold 8,000 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the sale, the president owned 425,381 shares of the company's stock, valued at approximately $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Terreno Realty Trading Down 0.7%
Shares of TRNO opened at $68.25 on Tuesday. Terreno Realty Corporation has a twelve month low of $53.00 and a twelve month high of $78.94. The firm has a market capitalization of $7.44 billion, a P/E ratio of 18.30 and a beta of 1.03. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. The stock's fifty day simple moving average is $68.43 and its 200 day simple moving average is $65.78.
Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. The firm had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. On average, equities research analysts forecast that Terreno Realty Corporation will post 2.82 earnings per share for the current year.
Terreno Realty Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 30th. This is an increase from Terreno Realty's previous quarterly dividend of $0.52. Terreno Realty's dividend payout ratio (DPR) is presently 55.76%.
Institutional Investors Weigh In On Terreno Realty
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRNO. Sage Rhino Capital LLC raised its stake in shares of Terreno Realty by 36.6% in the 4th quarter. Sage Rhino Capital LLC now owns 40,190 shares of the real estate investment trust's stock valued at $2,360,000 after purchasing an additional 10,777 shares in the last quarter. Principal Financial Group Inc. grew its stake in Terreno Realty by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust's stock worth $70,950,000 after purchasing an additional 81,444 shares in the last quarter. Strs Ohio grew its stake in Terreno Realty by 27.0% in the fourth quarter. Strs Ohio now owns 363,700 shares of the real estate investment trust's stock worth $21,353,000 after purchasing an additional 77,400 shares in the last quarter. Bessemer Group Inc. increased its holdings in Terreno Realty by 4.2% in the first quarter. Bessemer Group Inc. now owns 680,641 shares of the real estate investment trust's stock valued at $41,805,000 after buying an additional 27,624 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Terreno Realty by 16.1% in the first quarter. Sei Investments Co. now owns 275,521 shares of the real estate investment trust's stock valued at $16,923,000 after buying an additional 38,218 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on TRNO. UBS Group set a $68.00 target price on shares of Terreno Realty in a research report on Thursday, June 18th. Piper Sandler lifted their price target on shares of Terreno Realty from $79.00 to $91.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of Terreno Realty in a research note on Friday, July 31st. Raymond James Financial started coverage on shares of Terreno Realty in a research report on Wednesday, June 17th. They issued an "underperform" rating for the company. Finally, Citigroup raised their target price on shares of Terreno Realty from $70.00 to $73.00 and gave the company a "neutral" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $71.93.
View Our Latest Research Report on Terreno Realty
About Terreno Realty
(
Get Free Report)
Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.
Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.
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