Terreno Realty (NYSE:TRNO) Price Target Cut to $70.00

Terreno Realty (NYSE:TRNO – Get Rating) had its price target decreased by equities researchers at KeyCorp from $86.00 to $70.00 in a report issued on Tuesday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price target would indicate a potential upside of 19.68% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. StockNews.com assumed coverage on shares of Terreno Realty in a research report on Thursday, March 31st. They issued a “hold” rating for the company. The Goldman Sachs Group cut their target price on shares of Terreno Realty from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, June 16th. JMP Securities assumed coverage on shares of Terreno Realty in a research report on Wednesday, May 18th. They issued an “outperform” rating and a $75.00 target price for the company. Mizuho cut their target price on shares of Terreno Realty from $76.00 to $64.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Finally, TheStreet downgraded shares of Terreno Realty from a “b” rating to a “c+” rating in a research report on Thursday, May 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Terreno Realty has a consensus rating of “Moderate Buy” and an average target price of $75.43.

Shares of TRNO opened at $58.49 on Tuesday. The company has a market capitalization of $4.42 billion, a P/E ratio of 46.79 and a beta of 0.71. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $63.92 and a 200 day moving average of $70.74. Terreno Realty has a twelve month low of $54.55 and a twelve month high of $86.00.

Terreno Realty (NYSE:TRNO – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.20). The firm had revenue of $64.04 million for the quarter, compared to the consensus estimate of $62.16 million. Terreno Realty had a net margin of 38.50% and a return on equity of 4.79%. On average, sell-side analysts expect that Terreno Realty will post 1.96 EPS for the current year.

In other news, CEO W Blake Baird bought 1,000 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were bought at an average price of $64.00 per share, for a total transaction of $64,000.00. Following the purchase, the chief executive officer now owns 588,376 shares in the company, valued at $37,656,064. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. DigitalBridge Group Inc. lifted its stake in shares of Terreno Realty by 3,411.0% during the 1st quarter. DigitalBridge Group Inc. now owns 6,073,950 shares of the real estate investment trust’s stock valued at $22,438,000 after buying an additional 5,900,950 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Terreno Realty by 41.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,186,272 shares of the real estate investment trust’s stock worth $186,466,000 after purchasing an additional 637,530 shares in the last quarter. State Street Corp lifted its stake in Terreno Realty by 18.7% in the 1st quarter. State Street Corp now owns 3,642,466 shares of the real estate investment trust’s stock worth $270,935,000 after purchasing an additional 574,544 shares in the last quarter. Aew Capital Management L P lifted its stake in Terreno Realty by 77.7% in the 4th quarter. Aew Capital Management L P now owns 956,218 shares of the real estate investment trust’s stock worth $81,556,000 after purchasing an additional 418,168 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Terreno Realty by 21.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,160,269 shares of the real estate investment trust’s stock worth $184,249,000 after purchasing an additional 379,981 shares in the last quarter.

Terreno Realty Company Profile (Get Rating)

Terreno Realty Corporation 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 condensed notes to the consolidated financial statements are unaudited.

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