Analysts forecast that Terreno Realty Corporation (NYSE:TRNO) will report $33.91 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Terreno Realty Corporation’s earnings, with estimates ranging from $33.18 million to $35.87 million. Terreno Realty Corporation reported sales of $27.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 25.1%. The company is scheduled to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that Terreno Realty Corporation will report full year sales of $33.91 million for the current fiscal year, with estimates ranging from $131.00 million to $137.62 million. For the next fiscal year, analysts anticipate that the firm will report sales of $150.49 million per share, with estimates ranging from $137.37 million to $166.80 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Terreno Realty Corporation.
Terreno Realty Corporation (NYSE:TRNO) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $32.78 million during the quarter, compared to analysts’ expectations of $31.72 million. Terreno Realty Corporation had a return on equity of 3.13% and a net margin of 20.91%.
Several brokerages have recently weighed in on TRNO. BidaskClub lowered Terreno Realty Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and set a $37.00 price objective (up previously from $34.50) on shares of Terreno Realty Corporation in a report on Wednesday, August 9th. FBR & Co restated a “neutral” rating and set a $39.00 target price on shares of Terreno Realty Corporation in a research report on Tuesday, October 3rd. Jefferies Group LLC restated a “hold” rating and set a $34.00 target price on shares of Terreno Realty Corporation in a research report on Tuesday, October 3rd. Finally, BTIG Research restated a “buy” rating and set a $39.00 target price (up previously from $35.00) on shares of Terreno Realty Corporation in a research report on Wednesday, September 27th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $35.29.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRNO. BlackRock Inc. grew its stake in shares of Terreno Realty Corporation by 2,189.1% during the first quarter. BlackRock Inc. now owns 4,165,859 shares of the real estate investment trust’s stock worth $116,645,000 after purchasing an additional 3,983,872 shares during the period. FMR LLC grew its stake in shares of Terreno Realty Corporation by 16.8% during the first quarter. FMR LLC now owns 7,184,259 shares of the real estate investment trust’s stock worth $201,159,000 after purchasing an additional 1,035,842 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Terreno Realty Corporation during the second quarter worth $14,854,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Terreno Realty Corporation during the second quarter worth $12,482,000. Finally, Granite Investment Partners LLC acquired a new stake in shares of Terreno Realty Corporation during the second quarter worth $12,408,000. 97.97% of the stock is owned by institutional investors.
Terreno Realty Corporation (NYSE:TRNO) traded down 0.08% during trading on Thursday, reaching $36.75. The company’s stock had a trading volume of 181,297 shares. Terreno Realty Corporation has a 52-week low of $24.81 and a 52-week high of $37.40. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 77.53 and a beta of 0.81. The stock’s 50-day moving average is $36.52 and its 200 day moving average is $33.54.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be paid a $0.22 dividend. This is a boost from Terreno Realty Corporation’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, October 5th. Terreno Realty Corporation’s dividend payout ratio (DPR) is 191.30%.
TRADEMARK VIOLATION WARNING: “Zacks: Brokerages Expect Terreno Realty Corporation (TRNO) Will Announce Quarterly Sales of $33.91 Million” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2017/10/26/zacks-brokerages-expect-terreno-realty-corporation-trno-will-announce-quarterly-sales-of-33-91-million.html.
Terreno Realty Corporation Company Profile
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
Get a free copy of the Zacks research report on Terreno Realty Corporation (TRNO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Terreno Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terreno Realty Corporation and related companies with MarketBeat.com's FREE daily email newsletter.