BMO Capital Markets Begins Coverage on Terreno Realty (NYSE:TRNO)

Analysts at BMO Capital Markets assumed coverage on shares of Terreno Realty (NYSE:TRNO) in a report released on Tuesday,Benzinga reports. The firm set a “market perform” rating and a $71.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price objective indicates a potential upside of 8.78% from the company’s current price.

A number of other analysts also recently commented on the company. Barclays reissued an “equal weight” rating and issued a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. JMP Securities reiterated a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research report on Monday, January 6th. StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective for the company. Finally, Scotiabank reduced their target price on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.82.

Terreno Realty Trading Down 0.2 %

Shares of NYSE TRNO opened at $65.27 on Tuesday. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. The stock’s 50 day simple moving average is $60.99 and its 200 day simple moving average is $64.09. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. Terreno Realty has a 12-month low of $53.78 and a 12-month high of $71.63.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.24). The firm had revenue of $99.64 million for the quarter, compared to analyst estimates of $96.31 million. Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. Equities research analysts expect that Terreno Realty will post 2.42 EPS for the current year.

Institutional Investors Weigh In On Terreno Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. Stifel Financial Corp grew its position in Terreno Realty by 39.3% during the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock worth $6,156,000 after buying an additional 25,988 shares in the last quarter. Barclays PLC lifted its position in shares of Terreno Realty by 131.0% in the 3rd quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after acquiring an additional 96,380 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Terreno Realty by 22.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock worth $115,475,000 after purchasing an additional 315,506 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after purchasing an additional 8,940 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of Terreno Realty during the third quarter valued at approximately $225,000.

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.