Terreno Realty (NYSE:TRNO) Downgraded to “Neutral” at Robert W. Baird

Robert W. Baird lowered shares of Terreno Realty (NYSE:TRNO) from an outperform rating to a neutral rating in a report issued on Tuesday, Analyst Ratings Network reports. The brokerage currently has $79.00 price target on the real estate investment trust’s stock, down from their prior price target of $80.00.

A number of other brokerages also recently issued reports on TRNO. Zacks Investment Research raised Terreno Realty from a hold rating to a buy rating and set a $95.00 price target on the stock in a report on Friday, December 31st. KeyCorp increased their target price on Terreno Realty from $71.00 to $86.00 and gave the company an overweight rating in a report on Friday, November 5th. Finally, BTIG Research increased their target price on Terreno Realty from $70.00 to $94.00 and gave the company a buy rating in a report on Thursday, December 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $81.29.

Shares of TRNO stock opened at $77.70 on Tuesday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 79.29 and a beta of 0.62. The business’s fifty day moving average is $79.06 and its 200 day moving average is $71.46. Terreno Realty has a twelve month low of $53.97 and a twelve month high of $86.00. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.35.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, November 3rd. The real estate investment trust reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.14). Terreno Realty had a return on equity of 4.11% and a net margin of 32.60%. The company had revenue of $57.27 million during the quarter, compared to the consensus estimate of $54.92 million. Equities research analysts expect that Terreno Realty will post 1.72 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 5th. Stockholders of record on Wednesday, December 15th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, December 14th. Terreno Realty’s payout ratio is 138.78%.

Several large investors have recently bought and sold shares of TRNO. Vanguard Group Inc. raised its position in Terreno Realty by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 9,996,484 shares of the real estate investment trust’s stock valued at $644,974,000 after purchasing an additional 115,888 shares in the last quarter. Principal Financial Group Inc. grew its stake in Terreno Realty by 4.7% during the 2nd quarter. Principal Financial Group Inc. now owns 4,715,859 shares of the real estate investment trust’s stock worth $304,268,000 after buying an additional 210,470 shares during the last quarter. FMR LLC grew its stake in Terreno Realty by 29.7% during the 2nd quarter. FMR LLC now owns 3,754,171 shares of the real estate investment trust’s stock worth $242,218,000 after buying an additional 859,263 shares during the last quarter. State Street Corp lifted its position in Terreno Realty by 3.0% during the 2nd quarter. State Street Corp now owns 2,701,301 shares of the real estate investment trust’s stock worth $175,065,000 after acquiring an additional 78,973 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Terreno Realty by 4.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,626,601 shares of the real estate investment trust’s stock worth $104,948,000 after acquiring an additional 66,307 shares during the period. 93.54% of the stock is owned by institutional investors and hedge funds.

Terreno Realty Company Profile

Terreno Realty Corp. operates as a real estate company, which acquires, owns, and manages industrial properties. It invests in several types of industrial real estate, including warehouse/distribution, flex, research and development, and trans-shipment. The company was founded by Michael A. Coke and W.

See Also: Bar Chart

Analyst Recommendations 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.