Terreno Realty (NYSE:TRNO) Price Target Lowered to $60.00 at Piper Sandler

Terreno Realty (NYSE:TRNO) had its price target decreased by equities researchers at Piper Sandler from $61.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price target indicates a potential upside of 8.32% from the company’s current price.

Several other equities research analysts have also commented on TRNO. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Barclays dropped their price target on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. BMO Capital Markets lifted their price objective on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $66.45.

Terreno Realty Trading Down 0.5 %

Shares of TRNO traded down $0.30 during trading hours on Tuesday, reaching $55.39. 77,540 shares of the company traded hands, compared to its average volume of 895,814. Terreno Realty has a 12 month low of $48.18 and a 12 month high of $71.63. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00. The company’s fifty day moving average price is $63.90 and its two-hundred day moving average price is $62.54. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Terreno Realty by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after buying an additional 1,484,301 shares during the last quarter. FMR LLC increased its holdings in Terreno Realty by 5.9% in the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust’s stock valued at $663,987,000 after acquiring an additional 628,116 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Terreno Realty by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,145,502 shares of the real estate investment trust’s stock worth $304,305,000 after purchasing an additional 210,696 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Terreno Realty by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust’s stock valued at $144,031,000 after purchasing an additional 19,900 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Terreno Realty by 51.6% during the fourth quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust’s stock valued at $109,150,000 after purchasing an additional 628,065 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.