Terreno Realty (NYSE:TRNO) Announces Earnings Results

Terreno Realty (NYSE:TRNO) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.24, Zacks reports. Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%.

Terreno Realty Price Performance

Shares of NYSE TRNO traded down $0.54 during midday trading on Friday, reaching $67.13. 200,693 shares of the company traded hands, compared to its average volume of 829,567. Terreno Realty has a 12 month low of $53.78 and a 12 month 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 stock’s 50-day simple moving average is $61.42 and its 200-day simple moving average is $64.12. The firm has a market cap of $6.70 billion, a PE ratio of 36.89, a PEG ratio of 2.74 and a beta of 0.91.

Terreno Realty Dividend Announcement

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 given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is 107.69%.

Wall Street Analyst Weigh In

Several brokerages have commented on TRNO. BMO Capital Markets initiated coverage on Terreno Realty in a research report on Tuesday. They issued a “market perform” rating and a $71.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price for the company. Piper Sandler decreased their price target on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday. Scotiabank cut their price objective on shares of 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. Finally, Barclays reiterated an “equal weight” rating and issued a $60.00 target price (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $68.27.

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.