BMO Capital Markets Raises Terreno Realty (NYSE:TRNO) Price Target to $73.00

Terreno Realty (NYSE:TRNO) had its price target boosted by equities researchers at BMO Capital Markets from $71.00 to $73.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target points to a potential upside of 8.56% from the stock’s previous close.

Several other brokerages also recently issued reports on TRNO. JMP Securities reissued a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target on the stock. Piper Sandler cut their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Scotiabank decreased their target price on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research note on Friday, October 25th. Finally, Barclays reiterated an “equal weight” rating and issued a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Terreno Realty currently has an average rating of “Hold” and a consensus target price of $68.45.

Terreno Realty Stock Up 1.1 %

Shares of Terreno Realty stock opened at $67.24 on Wednesday. The stock has a 50-day simple moving average of $61.95 and a 200-day simple moving average of $64.05. Terreno Realty has a 52-week low of $53.78 and a 52-week high of $71.63. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 35.02, a P/E/G ratio of 2.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 2.71.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Terreno Realty

A number of large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in Terreno Realty in the third quarter worth approximately $26,000. Assetmark Inc. increased its holdings in shares of Terreno Realty by 2,381.3% in the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 381 shares during the last quarter. Manchester Capital Management LLC purchased a new position in shares of Terreno Realty in the 4th quarter worth $27,000. Steward Partners Investment Advisory LLC raised its holdings in Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 361 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Terreno Realty by 94.6% in the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 370 shares during the period.

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.