Terreno Realty (NYSE:TRNO) Price Target Increased to $70.00 by Analysts at Scotiabank

Terreno Realty (NYSE:TRNO) had its target price increased by investment analysts at Scotiabank from $59.00 to $70.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential downside of 0.92% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Wedbush reaffirmed a “neutral” rating and set a $70.00 price objective (up previously from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. JMP Securities upped their price target on Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 13th. BNP Paribas began coverage on Terreno Realty in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $68.00 target price on the stock. StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group raised their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Terreno Realty Stock Performance

Shares of NYSE:TRNO traded down $0.37 on Monday, hitting $70.65. 66,606 shares of the company were exchanged, compared to its average volume of 698,037. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. Terreno Realty has a 1-year low of $50.42 and a 1-year high of $71.63. The stock’s 50 day moving average price is $64.62 and its 200 day moving average price is $61.55. The firm has a market capitalization of $6.85 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 3.17 and a beta of 0.89.

Insider Activity at Terreno Realty

In other news, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the completion of the transaction, the chief financial officer now directly owns 101,927 shares in the company, valued at $6,970,787.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now directly owns 101,927 shares in the company, valued at $6,970,787.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael A. Coke sold 7,500 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.53, for a total transaction of $513,975.00. Following the completion of the sale, the president now owns 402,164 shares of the company’s stock, valued at approximately $27,560,298.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,643 shares of company stock worth $1,277,581. 2.40% of the stock is owned by insiders.

Institutional Trading of Terreno Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. acquired a new position in shares of Terreno Realty during the first quarter worth $31,000. SRS Capital Advisors Inc. grew its holdings in Terreno Realty by 337.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 408 shares during the period. Whittier Trust Co. boosted its position in shares of Terreno Realty by 123.4% during the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 337 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Terreno Realty during the 2nd quarter worth about $48,000. Finally, EntryPoint Capital LLC boosted its position in shares of Terreno Realty by 80.3% during the 1st quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 419 shares in the last quarter.

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.