Terreno Realty (NYSE:TRNO) Shares Gap Up – Here’s What Happened

Terreno Realty Co. (NYSE:TRNO) shares gapped up before the market opened on Monday . The stock had previously closed at $59.37, but opened at $64.23. Terreno Realty shares last traded at $63.01, with a volume of 695,068 shares.

Analyst Ratings Changes

A number of research firms have recently issued reports on TRNO. JMP Securities reiterated a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a research report on Monday. Scotiabank reduced their price objective on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. Wolfe Research raised Terreno Realty to a “hold” rating in a report on Sunday, September 22nd. Wells Fargo & Company downgraded Terreno Realty from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $71.00 to $75.00 in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group increased their price objective on shares of Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.22.

Terreno Realty Trading Up 5.8 %

The business’s 50-day moving average price is $62.11 and its two-hundred day moving average price is $63.50. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 34.43, a price-to-earnings-growth ratio of 2.73 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.71 and a quick ratio of 2.71.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). The business had revenue of $99.64 million for the quarter, compared to analysts’ expectations of $96.31 million. Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. Equities analysts expect that Terreno Realty Co. will post 2.41 earnings per share for the current year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, December 13th. Terreno Realty’s dividend payout ratio (DPR) is 107.69%.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Terreno Realty by 16.4% in the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock worth $708,348,000 after purchasing an additional 1,496,666 shares during the period. Geode Capital Management LLC lifted its position in Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after buying an additional 8,940 shares in the last quarter. American Century Companies Inc. grew its stake in Terreno Realty by 7.3% during the second quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock worth $127,287,000 after buying an additional 146,808 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Terreno Realty by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock worth $115,475,000 after acquiring an additional 315,506 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Terreno Realty by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,383,262 shares of the real estate investment trust’s stock valued at $81,862,000 after acquiring an additional 103,833 shares during the period.

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.