Terreno Realty (NYSE:TRNO) Given New $60.00 Price Target at Piper Sandler

Terreno Realty (NYSE:TRNO) had its target price reduced by Piper Sandler from $61.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on the stock. Scotiabank reduced their target price on shares of Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 7th. Barclays decreased their target price on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. JMP Securities reiterated a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.45.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $55.90 on Tuesday. The business has a 50-day moving average of $63.67 and a two-hundred day moving average of $62.50. The firm has a market capitalization of $5.76 billion, a PE ratio of 29.12, a P/E/G ratio of 2.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. Terreno Realty has a 12 month low of $48.18 and a 12 month high of $71.63.

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

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.51%. The ex-dividend date was Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 102.08%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TRNO. Manchester Capital Management LLC acquired a new stake in shares of Terreno Realty during the 4th quarter valued at approximately $27,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Terreno Realty by 176.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 361 shares during the period. Quarry LP lifted its position in shares of Terreno Realty by 613.7% in the 4th 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 last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Terreno Realty by 94.6% in the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 370 shares during the period. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Terreno Realty during the 4th quarter valued at about $71,000.

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.