Terreno Realty (NYSE:TRNO) Coverage Initiated at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Terreno Realty (NYSE:TRNO) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a “market perform” rating and a $71.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target would suggest a potential upside of 6.50% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Scotiabank lowered their price objective on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, October 25th. Barclays reissued an “equal weight” rating and issued a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective for the company. StockNews.com downgraded shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, JMP Securities reiterated a “market outperform” rating and set a $72.00 price objective on shares of Terreno Realty in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.82.

Terreno Realty Stock Up 1.0 %

Shares of NYSE TRNO opened at $66.67 on Tuesday. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $6.65 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. The stock’s fifty day simple moving average is $61.18 and its two-hundred day simple moving average is $64.07. Terreno Realty has a 12-month low of $53.78 and a 12-month high of $71.63.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. As a group, analysts expect that Terreno Realty will post 2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in Terreno Realty by 48.4% in the 2nd quarter. AQR Capital Management LLC now owns 44,114 shares of the real estate investment trust’s stock worth $2,611,000 after purchasing an additional 14,386 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Terreno Realty by 14.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,584 shares of the real estate investment trust’s stock worth $3,940,000 after purchasing an additional 8,336 shares during the period. Creative Planning raised its holdings in Terreno Realty by 7.0% in the 2nd quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 312 shares during the period. Sanctuary Advisors LLC acquired a new position in Terreno Realty in the 2nd quarter worth about $1,147,000. Finally, SG Americas Securities LLC raised its position in shares of Terreno Realty by 368.3% during the 3rd quarter. SG Americas Securities LLC now owns 13,927 shares of the real estate investment trust’s stock worth $931,000 after purchasing an additional 10,953 shares during 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.