Equities research analysts predict that Terreno Realty Corporation (NYSE:TRNO) will post $33.02 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Terreno Realty Corporation’s earnings, with the lowest sales estimate coming in at $31.78 million and the highest estimate coming in at $34.40 million. Terreno Realty Corporation posted sales of $27.10 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 21.8%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Terreno Realty Corporation will report full year sales of $33.02 million for the current year, with estimates ranging from $126.78 million to $134.50 million. For the next financial year, analysts anticipate that the company will report sales of $148.27 million per share, with estimates ranging from $130.75 million to $154.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Terreno Realty Corporation.
Terreno Realty Corporation (NYSE:TRNO) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. Terreno Realty Corporation had a return on equity of 3.13% and a net margin of 20.91%. The firm had revenue of $32.78 million for the quarter, compared to analysts’ expectations of $31.72 million.
A number of research analysts recently weighed in on TRNO shares. Jefferies Group LLC reissued a “hold” rating and issued a $29.00 price objective on shares of Terreno Realty Corporation in a research note on Monday, April 17th. Stifel Nicolaus raised their price objective on Terreno Realty Corporation from $29.00 to $34.50 and gave the company a “buy” rating in a research note on Monday, May 15th. Zacks Investment Research downgraded Terreno Realty Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th. National Securities downgraded Terreno Realty Corporation from a “buy” rating to a “neutral” rating and raised their price objective for the company from $29.00 to $33.00 in a research note on Thursday, May 11th. Finally, Wunderlich raised their price objective on Terreno Realty Corporation from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, May 8th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Terreno Realty Corporation has a consensus rating of “Hold” and an average target price of $31.81.
Shares of Terreno Realty Corporation (NYSE TRNO) traded up 0.40% during mid-day trading on Friday, hitting $34.80. The stock had a trading volume of 384,316 shares. Terreno Realty Corporation has a one year low of $24.81 and a one year high of $34.92. The company has a 50-day moving average of $33.48 and a 200 day moving average of $30.35. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 73.26 and a beta of 0.83.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.88 dividend on an annualized basis and a yield of 2.53%. This is a positive change from Terreno Realty Corporation’s previous quarterly dividend of $0.20.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Karp Capital Management Corp acquired a new stake in Terreno Realty Corporation during the first quarter worth about $265,000. UBS Asset Management Americas Inc. raised its stake in shares of Terreno Realty Corporation by 24.7% in the first quarter. UBS Asset Management Americas Inc. now owns 78,304 shares of the real estate investment trust’s stock valued at $2,193,000 after buying an additional 15,522 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Terreno Realty Corporation by 1.7% in the first quarter. BNP Paribas Arbitrage SA now owns 16,853 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 282 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Terreno Realty Corporation by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 337,853 shares of the real estate investment trust’s stock valued at $9,460,000 after buying an additional 24,780 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its stake in shares of Terreno Realty Corporation by 11.9% in the first quarter. New Mexico Educational Retirement Board now owns 6,600 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 700 shares during the last quarter.
About Terreno Realty Corporation
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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