Terreno Realty (NYSE:TRNO) Price Target Raised to $73.00 at BMO Capital Markets

Terreno Realty (NYSE:TRNO) had its price target increased by BMO Capital Markets from $71.00 to $73.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 9.68% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Barclays reaffirmed an “equal weight” rating and set a $60.00 target price (down from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. JMP Securities reaffirmed a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday. Piper Sandler cut their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Finally, Scotiabank cut their price objective on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $68.45.

Terreno Realty Trading Down 0.5 %

Shares of NYSE:TRNO traded down $0.35 during trading on Wednesday, reaching $66.56. 71,657 shares of the company were exchanged, compared to its average volume of 861,748. The firm has a market capitalization of $6.64 billion, a PE ratio of 34.66, a P/E/G ratio of 2.85 and a beta of 0.91. The business’s fifty day simple moving average is $61.68 and its 200-day simple moving average is $64.05. Terreno Realty has a 12-month low of $53.78 and a 12-month high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 2.71.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, research analysts anticipate that Terreno Realty will post 2.64 EPS for the current year.

Institutional Investors Weigh In On Terreno Realty

A number of large investors have recently made changes to their positions in TRNO. Creative Planning grew its holdings in shares of Terreno Realty by 7.0% during the second quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock valued at $284,000 after buying an additional 312 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Terreno Realty by 6.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,140 shares of the real estate investment trust’s stock valued at $1,279,000 after buying an additional 1,087 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Terreno Realty during the third quarter valued at $26,000. Blue Trust Inc. lifted its position in Terreno Realty by 72.6% during the third quarter. Blue Trust Inc. now owns 3,067 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 1,290 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Terreno Realty by 16.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 482,554 shares of the real estate investment trust’s stock valued at $32,249,000 after purchasing an additional 67,294 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.