Terreno Realty (NYSE:TRNO) Price Target Raised to $70.00

Terreno Realty (NYSE:TRNO) had its price target boosted by stock analysts at Scotiabank from $59.00 to $70.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential downside of 0.92% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Wedbush reissued a “neutral” rating and set a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. BNP Paribas initiated coverage on shares of Terreno Realty in a report on Tuesday, June 4th. They set an “outperform” rating and a $68.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Barclays reduced their price target on shares of Terreno Realty from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.11.

Terreno Realty Stock Down 0.5 %

TRNO stock traded down $0.37 during mid-day trading 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 market capitalization of $6.85 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 3.17 and a beta of 0.89. 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 twelve month low of $50.42 and a twelve month high of $71.63. The firm has a fifty day simple moving average of $64.62 and a 200 day simple moving average of $61.55.

Insiders Place Their Bets

In other news, President Michael A. Coke sold 7,500 shares of Terreno Realty stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.53, for a total value of $513,975.00. Following the transaction, the president now owns 402,164 shares of the company’s stock, valued at approximately $27,560,298.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Michael A. Coke sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.53, for a total transaction of $513,975.00. Following the sale, the president now owns 402,164 shares of the company’s stock, valued at $27,560,298.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,643 shares of company stock worth $1,277,581. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Terreno Realty

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Terreno Realty by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock valued at $861,988,000 after acquiring an additional 919,851 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Terreno Realty by 16.4% during the 1st quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock valued at $342,322,000 after acquiring an additional 727,995 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Terreno Realty by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust’s stock valued at $276,381,000 after acquiring an additional 291,051 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Terreno Realty by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock valued at $127,287,000 after acquiring an additional 146,808 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Terreno Realty by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,383,262 shares of the real estate investment trust’s stock valued at $81,862,000 after acquiring an additional 103,833 shares during the last quarter.

Terreno Realty Company Profile

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.