The Goldman Sachs Group Upgrades Terreno Realty (NYSE:TRNO) to Buy

Terreno Realty (NYSE:TRNO) was upgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm currently has a $77.00 price target on the real estate investment trust’s stock, up from their previous price target of $65.00. The Goldman Sachs Group’s price target would indicate a potential upside of 14.79% from the company’s current price.

Several other equities research analysts have also issued reports on TRNO. Scotiabank reduced their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective for the company. Piper Sandler decreased their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. JMP Securities restated a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a research note on Monday, February 10th. Finally, BMO Capital Markets boosted their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $69.27.

Terreno Realty Stock Up 0.4 %

TRNO stock opened at $67.08 on Friday. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty has a 52 week low of $53.78 and a 52 week high of $71.63. The firm’s 50-day moving average is $62.66 and its two-hundred day moving average is $64.04.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, analysts forecast that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently added to or reduced their stakes in TRNO. Assetmark Inc. boosted its stake in shares of Terreno Realty by 2,381.3% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $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 about $27,000. Steward Partners Investment Advisory LLC lifted its stake in shares of 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 in the last quarter. Quarry LP grew its stake in Terreno Realty by 613.7% during the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 626 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake 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 in 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.