In yesterday’s Wall Street session, Terreno Realty Corporation (NYSE:TRNO) shares traded at $61.80, down -0.88% from the previous session.
As we calculate the median target price by taking the range between a high of $80.00 and a low of $64.00, we find $71.00. Given the previous closing price of $62.35, this indicates a potential upside of 13.87 percent. TRNO stock price is now -1.44% away from the 50-day moving average and 4.16% away from the 200-day moving average. The market capitalization of the company currently stands at $5.25B.
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Brokers who have rated the stock have averaged $70.27 as their price target over the next twelve months.
With the price target reduced from $73 to $54, Scotiabank Downgraded its rating from Sector Outperform to Sector Perform for Terreno Realty Corporation (NYSE: TRNO). On October 13, 2022, Stifel recently initiated its ‘Buy’ rating on the stock quoting a target price of $62, while ‘JMP Securities’ rates the stock as ‘Mkt Outperform’.
In other news, CARLSON LEROY E, Director sold 4,000 shares of the company’s stock on Dec 02. The stock was sold for $233,960 at an average price of $58.49. Upon completion of the transaction, the Director now directly owns 37,791 shares in the company, valued at $2.34 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 11, Director PASQUALE DOUGLAS M bought 1,000 shares of the business’s stock. A total of $64,000 was incurred on buying the stock at an average price of $64.00. This leaves the insider owning 105,518 shares of the company worth $6.52 million. Insiders disposed of 12,367 shares of company stock worth roughly $0.76 million over the past 1 year. A total of 1.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TRNO stock. A new stake in Terreno Realty Corporation shares was purchased by CRAMER ROSENTHAL MCGLYNN LLC during the first quarter worth $22,823,000. TANDEM INVESTMENT ADVISORS, INC. invested $12,175,000 in shares of TRNO during the first quarter. In the first quarter, BAMCO INC /NY/ acquired a new stake in Terreno Realty Corporation valued at approximately $4,229,000. EMPLOYEES RETIREMENT SYSTEM OF TEXAS acquired a new stake in TRNO for approximately $2,163,000. DUFF & PHELPS INVESTMENT MANAGEMENT CO purchased a new stake in TRNO valued at around $2,154,000 in the second quarter. In total, there are 403 active investors with 97.66% ownership of the company’s stock.
On Thursday morning Terreno Realty Corporation (NYSE: TRNO) stock kicked off with the opening price of $61.81. During the past 12 months, Terreno Realty Corporation has had a low of $50.36 and a high of $81.01. The fifty day moving average price for TRNO is $62.71 and a two-hundred day moving average price translates $59.33 for the stock.
The latest earnings results from Terreno Realty Corporation (NYSE: TRNO) was released for Dec, 2022. According to the REIT – Industrial Company, earnings per share came in at $0.77, beating analysts’ expectations of $0.29 by 0.48. This compares to $0.44 EPS in the same period last year. The net profit margin was 71.40% and return on equity was 9.20% for TRNO. The company reported revenue of $76.01 million for the quarter, compared to $60.67 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 25.27 percent. For the current quarter, analysts expect TRNO to generate $75.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/06/2023. Investors who held shares on 03/31/2023 were paid a $0.40 dividend. On an annualized basis, this represents a $1.60 dividend and a 2.59% percent yield. There was an ex-dividend date of 03/30/2023 for this dividend. In terms of dividend payout ratio, TRNO is presently at 54.50%.
Terreno Realty Corporation(TRNO) Company Profile
Terreno Realty Corporation 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, D.C. All square feet, acres, occupancy and number of properties disclosed in these condensed notes to the consolidated financial statements are unaudited. As of September 30, 2020, the Company owned 219 buildings aggregating approximately 13.1 million square feet, 22 improved land parcels consisting of approximately 85.0 acres and one property under redevelopment expected to contain approximately 0.2 million square feet upon completion. The Company is an internally managed Maryland corporation and elected to be taxed as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the Code), commencing with its taxable year ended December 31, 2010.
