Terreno Realty (NYSE:TRNO) PT Raised to $72.00

Terreno Realty (NYSE:TRNO) had its price target raised by JMP Securities from $65.00 to $72.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a market outperform rating on the real estate investment trust’s stock.

A number of other analysts have also commented on TRNO. BNP Paribas initiated coverage on shares of Terreno Realty in a research note on Tuesday, June 4th. They set an outperform rating and a $68.00 price objective for the company. Wedbush reaffirmed a neutral rating and set a $57.00 price objective (down from $67.00) on shares of Terreno Realty in a research note on Tuesday, May 14th. StockNews.com downgraded Terreno Realty from a hold rating to a sell rating in a report on Wednesday, May 15th. The Goldman Sachs Group upped their target price on Terreno Realty from $60.00 to $68.00 and gave the company a neutral rating in a report on Monday. Finally, Scotiabank dropped their target price on Terreno Realty from $66.00 to $59.00 and set a sector perform rating on the stock in a report on Thursday, May 16th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Terreno Realty presently has an average rating of Moderate Buy and an average target price of $66.44.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $67.75 on Tuesday. Terreno Realty has a twelve month low of $50.42 and a twelve month high of $69.74. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 3.30 and a beta of 0.89. The firm has a 50-day moving average of $63.27 and a two-hundred day moving average of $61.19.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.49 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a yield of 2.89%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio is currently 102.08%.

Insider Buying and Selling

In related news, President Michael A. Coke sold 7,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the transaction, the president now owns 402,164 shares in the company, valued at $27,560,298.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Terreno Realty news, President Michael A. Coke sold 7,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.53, for a total transaction of $513,975.00. Following the transaction, the president now owns 402,164 shares in the company, valued at $27,560,298.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.64, for a total value of $421,792.80. Following the transaction, the executive vice president now owns 110,988 shares in the company, valued at approximately $7,618,216.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,643 shares of company stock worth $1,277,581. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Terreno Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Terreno Realty by 7.6% during the first quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock valued at $861,988,000 after purchasing an additional 919,851 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Terreno Realty by 16.4% during the first quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock valued at $342,322,000 after purchasing an additional 727,995 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Terreno Realty by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust’s stock valued at $276,381,000 after purchasing an additional 291,051 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Terreno Realty by 7.3% in the second quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock valued at $127,287,000 after acquiring an additional 146,808 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Terreno Realty by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,383,262 shares of the real estate investment trust’s stock valued at $81,862,000 after acquiring an additional 103,833 shares during the period.

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.