FY2024 EPS Estimates for Terreno Realty Raised by Analyst

Terreno Realty Co. (NYSE:TRNO) – Investment analysts at Wedbush boosted their FY2024 earnings per share (EPS) estimates for shares of Terreno Realty in a research note issued on Monday, November 11th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings of $2.43 per share for the year, up from their previous estimate of $2.41. Wedbush currently has a “Neutral” rating and a $70.00 target price on the stock. The consensus estimate for Terreno Realty’s current full-year earnings is $2.41 per share. Wedbush also issued estimates for Terreno Realty’s Q4 2024 earnings at $0.63 EPS.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. The business had revenue of $99.64 million during the quarter, compared to the consensus estimate of $96.31 million.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Wells Fargo & Company downgraded shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $71.00 to $75.00 in a research report on Wednesday, August 28th. Barclays decreased their price target on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Scotiabank decreased their target price on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, October 25th. Finally, JMP Securities upped their price target 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.22.

Terreno Realty Stock Performance

TRNO opened at $61.00 on Wednesday. The business’s 50-day simple moving average is $65.16 and its 200 day simple moving average is $62.84. Terreno Realty has a 52-week low of $53.23 and a 52-week high of $71.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71. The firm has a market capitalization of $6.08 billion, a PE ratio of 33.52, a PEG ratio of 2.86 and a beta of 0.90.

Hedge Funds Weigh In On Terreno Realty

A number of hedge funds have recently made changes to their positions in TRNO. V Square Quantitative Management LLC acquired a new stake in Terreno Realty during the 3rd quarter valued at approximately $26,000. Assetmark Inc. increased its position in shares of Terreno Realty by 2,381.3% during the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 381 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Terreno Realty during the second quarter worth $48,000. EntryPoint Capital LLC boosted its position in Terreno Realty by 80.3% during the first quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 419 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Terreno Realty by 6,580.0% during the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 987 shares during the last quarter.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.21%. Terreno Realty’s dividend payout ratio (DPR) is presently 107.69%.

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.