Terreno Realty (NYSE:TRNO) Given New $68.00 Price Target at Scotiabank

Terreno Realty (NYSE:TRNO) had its target price increased by equities research analysts at Scotiabank from $64.00 to $68.00 in a 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 indicates a potential upside of 0.31% from the company’s current price.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets lifted their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price on the stock. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Piper Sandler cut their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Terreno Realty has a consensus rating of “Hold” and a consensus price target of $69.36.

Terreno Realty Price Performance

Shares of Terreno Realty stock traded down $0.07 during midday trading on Friday, hitting $67.79. 1,459,986 shares of the company traded hands, compared to its average volume of 878,320. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The firm’s fifty day moving average price is $63.20 and its 200-day moving average price is $64.04. 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, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, sell-side analysts forecast that Terreno Realty will post 2.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mariner LLC lifted its position in shares of Terreno Realty by 3.7% in the 4th quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 161 shares during the period. Huntington National Bank increased its stake in shares of Terreno Realty by 7.4% in the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 177 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Terreno Realty by 6.1% in the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 249 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Terreno Realty by 0.9% in the 4th quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust’s stock valued at $1,810,000 after acquiring an additional 271 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Terreno Realty by 1.0% in the 4th quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock valued at $1,663,000 after acquiring an additional 276 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.