Terreno Realty Co. (NYSE:TRNO) – Analysts at Jefferies Financial Group boosted their Q3 2018 earnings per share estimates for shares of Terreno Realty in a research report issued to clients and investors on Thursday, August 2nd. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will earn $0.34 per share for the quarter, up from their prior estimate of $0.33. Jefferies Financial Group also issued estimates for Terreno Realty’s Q4 2018 earnings at $0.35 EPS, FY2018 earnings at $1.32 EPS, Q1 2020 earnings at $0.37 EPS, Q2 2020 earnings at $0.37 EPS and FY2020 earnings at $1.52 EPS.
A number of other research firms have also issued reports on TRNO. National Securities reissued a “buy” rating and set a $39.00 target price on shares of Terreno Realty in a research note on Tuesday, May 8th. Zacks Investment Research raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a research note on Saturday, May 5th. DA Davidson set a $50.00 target price on shares of Terreno Realty and gave the company a “buy” rating in a research note on Friday, May 4th. KeyCorp boosted their target price on shares of Terreno Realty from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Friday. Finally, Compass Point raised shares of Terreno Realty from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 18th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $38.91.
Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its stake in Terreno Realty by 491.6% during the first quarter. Assetmark Inc. now owns 3,526 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 2,930 shares during the last quarter. Eii Capital Management Inc. acquired a new stake in Terreno Realty during the second quarter valued at approximately $188,000. Advisor Group Inc. lifted its stake in Terreno Realty by 111.6% during the fourth quarter. Advisor Group Inc. now owns 5,424 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 2,861 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Terreno Realty during the first quarter valued at approximately $207,000. Finally, Guggenheim Capital LLC acquired a new stake in Terreno Realty during the fourth quarter valued at approximately $229,000. 98.49% of the stock is owned by institutional investors and hedge funds.
In other Terreno Realty news, Director Gabriela Franco Parcella bought 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The stock was acquired at an average cost of $37.97 per share, with a total value of $208,835.00. Following the completion of the purchase, the director now directly owns 7,914 shares in the company, valued at $300,494.58. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, October 5th will be paid a $0.24 dividend. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, October 4th. Terreno Realty’s dividend payout ratio is currently 80.73%.
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 Additional information about Terreno Realty Corporation is available on the company's web site at www.terreno.com.
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