Terreno Realty Co. (NYSE:TRNO) Expected to Announce Quarterly Sales of $42.62 Million

Brokerages predict that Terreno Realty Co. (NYSE:TRNO) will report sales of $42.62 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Terreno Realty’s earnings, with estimates ranging from $42.04 million to $43.30 million. Terreno Realty reported sales of $37.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that Terreno Realty will report full year sales of $168.70 million for the current year, with estimates ranging from $167.01 million to $171.30 million. For the next year, analysts forecast that the firm will post sales of $182.58 million, with estimates ranging from $170.57 million to $196.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Terreno Realty.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.18). The business had revenue of $41.73 million for the quarter, compared to the consensus estimate of $41.53 million. Terreno Realty had a net margin of 36.83% and a return on equity of 4.55%.

A number of brokerages recently commented on TRNO. Zacks Investment Research downgraded Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday. KeyCorp upped their target price on Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, ValuEngine downgraded Terreno Realty from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.25.

Hedge funds have recently modified their holdings of the stock. Eii Capital Management Inc. grew its stake in shares of Terreno Realty by 3.0% in the second quarter. Eii Capital Management Inc. now owns 8,030 shares of the real estate investment trust’s stock worth $394,000 after acquiring an additional 233 shares during the last quarter. Assetmark Inc. grew its stake in shares of Terreno Realty by 8.9% in the second quarter. Assetmark Inc. now owns 4,045 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 330 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Terreno Realty by 4.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,227 shares of the real estate investment trust’s stock worth $829,000 after acquiring an additional 762 shares during the last quarter. Marshall Wace North America L.P. grew its stake in shares of Terreno Realty by 50.1% in the first quarter. Marshall Wace North America L.P. now owns 2,318 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 774 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Terreno Realty in the second quarter worth $49,000.

Shares of Terreno Realty stock traded up $0.24 during midday trading on Wednesday, reaching $53.67. 263,400 shares of the company’s stock traded hands, compared to its average volume of 305,469. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.96 and a quick ratio of 4.96. The stock has a 50 day moving average of $51.33 and a 200-day moving average of $48.10. Terreno Realty has a 12 month low of $33.52 and a 12 month high of $54.01.

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.01%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, October 3rd.

Terreno Realty Company Profile

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

Featured Article: What are the benefits of momentum investing?

Get a free copy of the Zacks research report on Terreno Realty (TRNO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Terreno Realty (NYSE:TRNO)

Receive News & Ratings for Terreno Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terreno Realty and related companies with MarketBeat.com's FREE daily email newsletter.