Terreno Realty (NYSE:TRNO) Stock Rating Reaffirmed by Wedbush

Terreno Realty (NYSE:TRNO)‘s stock had its “neutral” rating reiterated by Wedbush in a report issued on Thursday, Benzinga reports. They currently have a $67.00 price objective on the real estate investment trust’s stock. Wedbush’s price target points to a potential upside of 2.54% from the company’s previous close.

Several other equities analysts have also commented on TRNO. Barclays began coverage on Terreno Realty in a research note on Wednesday. They set an “overweight” rating and a $71.00 price target on the stock. Mizuho dropped their price objective on Terreno Realty from $67.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 5th. The Goldman Sachs Group raised their price objective on Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. StockNews.com raised Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. Finally, Wells Fargo & Company initiated coverage on Terreno Realty in a report on Thursday, December 7th. They issued an “overweight” rating and a $71.00 price target for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Terreno Realty has a consensus rating of “Hold” and a consensus target price of $66.67.

Terreno Realty Stock Up 2.3 %

Shares of TRNO opened at $65.34 on Thursday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $62.72 and a 200 day moving average of $59.73. Terreno Realty has a 52-week low of $50.42 and a 52-week high of $65.64. The company has a market cap of $5.88 billion, a PE ratio of 36.10, a P/E/G ratio of 2.97 and a beta of 0.81.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. The business had revenue of $86.48 million for the quarter, compared to analyst estimates of $84.06 million. On average, sell-side analysts expect that Terreno Realty will post 2.39 EPS for the current year.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Terreno Realty in the first quarter valued at approximately $28,000. Ronald Blue Trust Inc. increased its position in shares of Terreno Realty by 93.9% in the third quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 260 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Terreno Realty by 337.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 529 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 408 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Terreno Realty during the fourth quarter worth approximately $35,000. Finally, Pinebridge Investments L.P. purchased a new stake in shares of Terreno Realty during the second quarter worth approximately $49,000.

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.