Scotiabank Forecasts Strong Price Appreciation for Terreno Realty (NYSE:TRNO) Stock

Terreno Realty (NYSE:TRNO) had its price objective lifted by stock analysts at Scotiabank from $68.00 to $72.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 5.33% from the stock’s previous close.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group lifted their target price on shares of Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Robert W. Baird set a $69.00 price target on shares of Terreno Realty in a research note on Friday, May 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Terreno Realty in a report on Friday, July 31st. Wells Fargo & Company cut their price objective on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Finally, KeyCorp increased their target price on Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Terreno Realty currently has an average rating of “Moderate Buy” and an average price target of $72.43.

Terreno Realty Price Performance

Shares of TRNO stock traded up $0.10 during trading hours on Wednesday, hitting $68.36. 63,848 shares of the company’s stock were exchanged, compared to its average volume of 769,232. Terreno Realty has a fifty-two week low of $53.46 and a fifty-two week high of $78.94. The firm has a market cap of $7.45 billion, a P/E ratio of 18.33 and a beta of 1.03. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $68.52 and a two-hundred day moving average of $65.82.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. The firm had revenue of $124.71 million for the quarter, compared to analysts’ expectations of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. Sell-side analysts forecast that Terreno Realty will post 2.82 EPS for the current year.

Insider Buying and Selling at Terreno Realty

In related news, EVP John Tull Meyer sold 4,447 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction of $305,242.08. Following the completion of the transaction, the executive vice president directly owned 131,825 shares in the company, valued at $9,048,468. This trade represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the transaction, the president directly owned 425,381 shares of the company’s stock, valued at approximately $29,087,552.78. This represents a 1.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Clearstead Trust LLC acquired a new position in shares of Terreno Realty in the second quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its holdings in Terreno Realty by 57.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 159 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in Terreno Realty during the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its position in Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 350 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 172 shares during the period.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.