Terreno Realty (NYSE:TRNO) Price Target Lowered to $67.00 at Scotiabank

Terreno Realty (NYSE:TRNO) had its price objective lowered by stock analysts at Scotiabank from $70.00 to $67.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 6.64% from the stock’s current price.

TRNO has been the subject of a number of other reports. Mizuho reiterated an “underperform” rating and issued a $62.00 price target on shares of Terreno Realty in a research report on Thursday, September 5th. Wells Fargo & Company cut shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. StockNews.com lowered Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. JMP Securities raised their price objective on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 13th. Finally, Wedbush reaffirmed a “neutral” rating and set a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $69.22.

Terreno Realty Stock Performance

NYSE TRNO traded down $0.48 during trading hours on Friday, hitting $62.83. 282,795 shares of the company’s stock traded hands, compared to its average volume of 701,794. The firm has a market capitalization of $6.08 billion, a P/E ratio of 32.71, a P/E/G ratio of 2.92 and a beta of 0.90. Terreno Realty has a 52 week low of $50.65 and a 52 week high of $71.63. The business’s fifty day moving average price is $67.09 and its two-hundred day moving average price is $62.57. 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 (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The firm had revenue of $94.25 million during the quarter, compared to the consensus estimate of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. Equities research analysts predict that Terreno Realty will post 2.41 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the transaction, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at $6,970,787.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.64, for a total value of $421,792.80. Following the completion of the transaction, the executive vice president now directly owns 110,988 shares in the company, valued at approximately $7,618,216.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,643 shares of company stock valued at $1,277,581. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently added to or reduced their stakes in TRNO. V Square Quantitative Management LLC purchased a new stake in Terreno Realty in the third quarter valued at $26,000. Whittier Trust Co. boosted its holdings in Terreno Realty by 123.4% in the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 337 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Terreno Realty in the second quarter valued at $48,000. EntryPoint Capital LLC boosted its holdings in Terreno Realty by 80.3% in the first quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 419 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Terreno Realty by 6,580.0% in the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 987 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.