Imagine if you had decided to invest $10,000 in Terreno Realty Corporation (NYSE: TRNO) back in March 2019. At that time, you would have been able to purchase 241.84 shares of the company at a price of $41.35 per share. Fast forward to March 13, 2024, and you would have seen an appreciation of 11.49% in the value of your investment.
Terreno Realty Corp. is a real estate investment trust specializing in industrial properties. They currently own and operate 259 properties, totaling 16 million square feet, in key U.S. coastal markets such as Miami, Northern New Jersey/New York City, Washington D.C., Seattle, Los Angeles, and San Francisco. With a customer base of 580 as of December 31, 2023, Terreno Realty focuses on acquiring properties in strategic locations near major population centers and transportation hubs.
As of March 13, 2024, Terreno Realty Corporation boasts a market capitalization of $5.63 billion, with a 52-week trading range of $50.42-$65.64. The company’s success lies in its commitment to acquiring functional and flexible properties in prime locations, making it an attractive investment option for those looking to capitalize on the industrial real estate sector.
TRNO Stock Shows Promising Performance Trading Near 52-Week High on March 13, 2024
On March 13, 2024, TRNO stock showed promising performance as it traded near the top of its 52-week range and above its 200-day simple moving average. This indicated positive momentum for the stock.
The price of TRNO shares increased by $0.62 since the market last closed, representing a 0.95% rise. The stock opened at $64.48, which was $0.04 lower than its previous close. Despite the slight dip in the opening price, the stock quickly gained momentum and continued to rise throughout the trading day.
Investors may have been drawn to TRNO stock on March 13 due to its strong performance indicators. Trading near the top of its 52-week range suggests that the stock has been performing well compared to its historical prices. Additionally, trading above its 200-day simple moving average indicates a bullish trend for the stock.
TRNO Stock Performance Analysis: Revenue Up, Net Income Down
On March 13, 2024, TRNO stock had a mixed performance based on the financial data provided by CNN Money. The company’s total revenue for the past year was $323.59 million, showing an increase of 17.15% compared to the previous year. In the fourth quarter, total revenue was $86.48 million, which represented a 4.3% increase from the previous quarter.
However, the net income for TRNO was $150.75 million for the past year, but it decreased by 23.54% compared to the previous year. In the fourth quarter, the net income was $57.28 million, holding flat compared to the previous quarter.
Earnings per share (EPS) for TRNO were $1.81 for the past year, showing a decrease of 30.68% compared to the previous year. In the fourth quarter, EPS was $0.65, holding flat compared to the previous quarter.
Overall, TRNO stock showed a mixed performance on March 13, 2024. Investors may want to closely monitor the company’s financial performance and future outlook to make informed decisions regarding TRNO stock.
