Terreno Realty (NYSE:TRNO) Price Target Cut to $78.00 by Analysts at Piper Sandler

Terreno Realty (NYSE:TRNO) had its target price cut by Piper Sandler from $80.00 to $78.00 in a report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other research analysts have also recently weighed in on TRNO. Barclays reaffirmed an “equal weight” rating and set a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Scotiabank lowered 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 report on Friday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective for the company. StockNews.com downgraded shares of Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Finally, BMO Capital Markets started coverage on Terreno Realty in a research note on Tuesday. They issued a “market perform” rating and a $71.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Terreno Realty presently has a consensus rating of “Hold” and a consensus price target of $68.27.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $67.60 on Thursday. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $61.29 and a 200-day moving average price of $64.09. Terreno Realty has a 52 week low of $53.78 and a 52 week high of $71.63. The firm has a market capitalization of $6.74 billion, a PE ratio of 37.14, a P/E/G ratio of 2.74 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 research analysts expect that Terreno Realty will post 2.42 earnings per share for the current year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s payout ratio is 107.69%.

Hedge Funds Weigh In On Terreno Realty

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