Piper Sandler Trims Terreno Realty (NYSE:TRNO) Target Price to $73.00

Terreno Realty (NYSE:TRNO – Get Rating) had its price objective lowered by investment analysts at Piper Sandler to $73.00 in a research note issued on Monday, Stock Target Advisor reports. Piper Sandler’s price target would suggest a potential upside of 29.57% from the company’s previous close.

Several other research analysts also recently issued reports on TRNO. JMP Securities initiated coverage on Terreno Realty in a research report on Wednesday, May 18th. They set an “outperform” rating and a $75.00 price objective for the company. The Goldman Sachs Group cut their price objective on Terreno Realty from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, June 16th. TheStreet downgraded Terreno Realty from a “b” rating to a “c+” rating in a research report on Thursday, May 19th. StockNews.com began coverage on Terreno Realty in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, KeyCorp lowered their target price on shares of Terreno Realty from $86.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.33.

Shares of TRNO stock traded up $0.61 during midday trading on Monday, reaching $56.34. 29,168 shares of the company traded hands, compared to its average volume of 407,142. The firm’s 50 day simple moving average is $62.18 and its two-hundred day simple moving average is $70.06. Terreno Realty has a 1-year low of $54.55 and a 1-year high of $86.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.43 and a quick ratio of 2.43. The firm has a market cap of $4.26 billion, a PE ratio of 45.07 and a beta of 0.72.

Terreno Realty (NYSE:TRNO – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.20). Terreno Realty had a return on equity of 4.79% and a net margin of 38.50%. The company had revenue of $64.04 million for the quarter, compared to analyst estimates of $62.16 million. As a group, research analysts anticipate that Terreno Realty will post 1.95 earnings per share for the current fiscal year.

In related news, CEO W Blake Baird acquired 1,000 shares of the stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $64.00 per share, with a total value of $64,000.00. Following the purchase, the chief executive officer now directly owns 588,376 shares of the company’s stock, valued at $37,656,064. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pendal Group Ltd grew its stake in shares of Terreno Realty by 62.1% during the 4th quarter. Pendal Group Ltd now owns 32,262 shares of the real estate investment trust’s stock valued at $2,752,000 after buying an additional 12,362 shares during the period. Rhumbline Advisers boosted its position in Terreno Realty by 3.9% during the 4th quarter. Rhumbline Advisers now owns 117,369 shares of the real estate investment trust’s stock worth $10,010,000 after purchasing an additional 4,456 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Terreno Realty during the 4th quarter worth $6,116,000. Dupont Capital Management Corp boosted its position in Terreno Realty by 412.6% during the 4th quarter. Dupont Capital Management Corp now owns 27,038 shares of the real estate investment trust’s stock worth $2,306,000 after purchasing an additional 21,763 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Terreno Realty by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 709,484 shares of the real estate investment trust’s stock worth $44,861,000 after purchasing an additional 19,281 shares during the period.

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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