The Goldman Sachs Group Lowers Terreno Realty (NYSE:TRNO) Price Target to $60.00

Terreno Realty (NYSE:TRNO) had its price objective cut by stock analysts at The Goldman Sachs Group from $68.00 to $60.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 9.25% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Mizuho increased their target price on Terreno Realty from $52.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. JMP Securities reissued a “market outperform” rating and issued a $65.00 target price on shares of Terreno Realty in a research note on Monday. Scotiabank increased their target price on Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Monday, February 12th. Barclays assumed coverage on Terreno Realty in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 target price on the stock. Finally, Wedbush reissued a “neutral” rating and issued a $67.00 target price on shares of Terreno Realty in a research note on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Terreno Realty has an average rating of “Hold” and a consensus price target of $66.44.

Terreno Realty Price Performance

TRNO opened at $54.92 on Tuesday. The stock has a fifty day simple moving average of $60.37 and a two-hundred day simple moving average of $60.07. The company has a current ratio of 10.17, a quick ratio of 10.17 and a debt-to-equity ratio of 0.23. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 2.53 and a beta of 0.85. Terreno Realty has a 12-month low of $50.42 and a 12-month high of $66.63.

Institutional Investors Weigh In On Terreno Realty

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Terreno Realty by 1.4% in the third quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust’s stock worth $677,009,000 after purchasing an additional 168,728 shares during the last quarter. Wellington Management Group LLP boosted its position in Terreno Realty by 8.4% in the third quarter. Wellington Management Group LLP now owns 598,005 shares of the real estate investment trust’s stock worth $33,967,000 after purchasing an additional 46,475 shares during the last quarter. Townsquare Capital LLC boosted its position in Terreno Realty by 12.0% in the third quarter. Townsquare Capital LLC now owns 22,073 shares of the real estate investment trust’s stock worth $1,254,000 after purchasing an additional 2,364 shares during the last quarter. Wolverine Asset Management LLC boosted its position in Terreno Realty by 63.9% in the third quarter. Wolverine Asset Management LLC now owns 27,224 shares of the real estate investment trust’s stock worth $1,546,000 after purchasing an additional 10,617 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Terreno Realty by 11.1% in the third quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust’s stock worth $233,632,000 after purchasing an additional 411,973 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.