Terreno Realty (NYSE:TRNO) Posts Earnings Results

Terreno Realty (NYSE:TRNO) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24), Zacks reports. The company had revenue of $99.64 million for the quarter, compared to the consensus estimate of $96.31 million. Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%.

Terreno Realty Stock Up 2.6 %

TRNO stock traded up $1.58 during trading on Friday, hitting $62.00. 769,245 shares of the company’s stock traded hands, compared to its average volume of 709,786. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.18 billion, a P/E ratio of 34.07, a PEG ratio of 2.76 and a beta of 0.90. Terreno Realty has a 1 year low of $53.23 and a 1 year high of $71.63. The business has a fifty day simple moving average of $65.30 and a two-hundred day simple moving average of $62.69.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, December 13th. Terreno Realty’s payout ratio is 107.69%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JMP Securities lifted their target price on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 13th. Wells Fargo & Company cut shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $71.00 to $75.00 in a report on Wednesday, August 28th. Wolfe Research upgraded Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. Wedbush reaffirmed a “neutral” rating and issued a $70.00 price objective (up previously from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. Finally, Barclays lowered their target price on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.22.

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.