Piper Sandler Has Lowered Expectations for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO) had its price target trimmed by Piper Sandler from $80.00 to $78.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on TRNO. StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Barclays reiterated an “equal weight” rating and set a $60.00 price target (down from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective on the stock. BMO Capital Markets assumed coverage on Terreno Realty in a research report on Tuesday. They issued a “market perform” rating and a $71.00 target price on the stock. Finally, Scotiabank lowered their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.27.

Terreno Realty Trading Up 1.5 %

TRNO opened at $67.60 on Thursday. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. The company’s 50 day simple moving average is $61.29 and its two-hundred day simple moving average is $64.09. Terreno Realty has a 1-year low of $53.78 and a 1-year high of $71.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.71 and a quick ratio of 2.71.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. Analysts expect that Terreno Realty will post 2.42 EPS for the current fiscal year.

Terreno Realty Announces Dividend

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

Hedge Funds Weigh In On Terreno Realty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in Terreno Realty in the third quarter valued at approximately $26,000. Assetmark Inc. increased its position in shares of Terreno Realty by 2,381.3% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 381 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in shares of Terreno Realty in the 4th quarter valued at approximately $27,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Terreno Realty by 176.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 361 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Terreno Realty by 6,580.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 987 shares during the last quarter.

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.