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. “
TRNO has been the topic of a number of other reports. FBR & Co reissued a hold rating and set a $26.00 target price on shares of Terreno Realty Corporation in a research report on Monday, November 7th. National Securities boosted their target price on shares of Terreno Realty Corporation from $24.50 to $28.00 and gave the stock a buy rating in a research report on Thursday, November 17th. DA Davidson reissued a buy rating on shares of Terreno Realty Corporation in a research report on Monday, November 14th. Jefferies Group LLC reissued a hold rating and set a $27.00 target price on shares of Terreno Realty Corporation in a research report on Tuesday, January 31st. Finally, Mitsubishi UFJ Financial Group reissued a neutral rating and set a $29.00 target price on shares of Terreno Realty Corporation in a research report on Thursday, January 5th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $27.94.
Shares of Terreno Realty Corporation (NYSE:TRNO) opened at 27.55 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 118.75 and a beta of 0.77. Terreno Realty Corporation has a 52 week low of $20.54 and a 52 week high of $29.08. The company’s 50-day moving average is $27.85 and its 200-day moving average is $27.05.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 12th. Shareholders of record on Tuesday, March 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 24th. This represents a $0.80 annualized dividend and a yield of 2.90%. Terreno Realty Corporation’s payout ratio is 347.83%.
Hedge funds have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC acquired a new stake in Terreno Realty Corporation during the second quarter valued at $964,000. DIAM Co. Ltd. raised its stake in Terreno Realty Corporation by 2.0% in the second quarter. DIAM Co. Ltd. now owns 802,953 shares of the company’s stock valued at $20,547,000 after buying an additional 16,123 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Terreno Realty Corporation by 50.0% in the second quarter. JPMorgan Chase & Co. now owns 23,066 shares of the company’s stock valued at $597,000 after buying an additional 7,691 shares during the last quarter. Nationwide Fund Advisors raised its stake in Terreno Realty Corporation by 2.6% in the second quarter. Nationwide Fund Advisors now owns 28,464 shares of the company’s stock valued at $736,000 after buying an additional 733 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Terreno Realty Corporation by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 6,049 shares of the company’s stock valued at $156,000 after buying an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.
About Terreno Realty Corporation
Terreno Realty Corporation (Terreno) is a real estate investment trust. The Company acquires, owns and operates industrial real estate located in approximately six coastal United States markets, such as Los Angeles Area; Northern New Jersey/New York City; San Francisco Bay Area; Seattle Area; Miami Area, and Washington, DC/Baltimore.
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