Zacks Investment Research cut shares of Terreno Realty (NYSE:TRNO) from a hold rating to a sell rating in a research report released on Friday morning, Zacks.com reports.
According to Zacks, “Terreno Realty Corporation is an internally managed real estate investment trust (REIT) focused on acquiring industrial real estate located in major coastal U.S. markets. The Company’s main focus is on markets in Los Angeles Area; Northern New Jersey/New York City; San Francisco Bay Area; Seattle Area; Miami Area; and Washington, D.C./Baltimore. Terreno Realty Corporation focuses on investing in several types of industrial real estate, including warehouse/distribution, flex (including light manufacturing, and research and development) and trans-shipment. The Company will target functional buildings in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets, in which it operates. The Company will utilize local third-party property managers for day-to-day property management. Terreno Realty Corporationy will make all operating and leasing decisions on its properties. “
Other analysts have also recently issued reports about the company. KeyCorp boosted their price objective on Terreno Realty from $49.00 to $52.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Mitsubishi UFJ Financial Group upped their price target on Terreno Realty to $45.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Finally, Goldman Sachs Group started coverage on Liberty Property Trust in a research note on Wednesday, May 15th. They issued a neutral rating and a $49.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $49.25.
Shares of NYSE:TRNO opened at $48.75 on Friday. Terreno Realty has a 1-year low of $33.52 and a 1-year high of $50.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s 50-day moving average price is $48.21.
Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.10). The firm had revenue of $40.88 million for the quarter, compared to the consensus estimate of $40.02 million. Terreno Realty had a return on equity of 5.62% and a net margin of 44.18%. As a group, sell-side analysts expect that Terreno Realty will post 1.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were paid a $0.24 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.97%.
Several hedge funds have recently made changes to their positions in the company. Spirit of America Management Corp NY increased its stake in shares of Terreno Realty by 9.0% in the 2nd quarter. Spirit of America Management Corp NY now owns 35,287 shares of the real estate investment trust’s stock valued at $1,730,000 after acquiring an additional 2,912 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Terreno Realty by 74.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,898 shares of the real estate investment trust’s stock valued at $289,000 after acquiring an additional 2,523 shares during the last quarter. Exane Derivatives increased its stake in shares of Terreno Realty by 23,810.5% in the 2nd quarter. Exane Derivatives now owns 4,543 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 4,524 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Terreno Realty by 16.3% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 17,872 shares of the real estate investment trust’s stock valued at $876,000 after acquiring an additional 2,502 shares during the last quarter. Finally, Eii Capital Management Inc. increased its stake in shares of Terreno Realty by 3.0% in the 2nd quarter. Eii Capital Management Inc. now owns 8,030 shares of the real estate investment trust’s stock valued at $394,000 after acquiring an additional 233 shares during the last quarter. 99.75% of the stock is owned by institutional investors.
About Terreno Realty
Terreno Realty Corporation 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
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