Terreno Realty (NYSE:TRNO) Given New $73.00 Price Target at Citigroup

Terreno Realty (NYSE:TRNO) had its price objective lifted by Citigroup from $70.00 to $73.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective would indicate a potential upside of 6.83% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Terreno Realty in a report on Friday, July 31st. Raymond James Financial began coverage on shares of Terreno Realty in a research note on Wednesday, June 17th. They issued an “underperform” rating for the company. Wells Fargo & Company lowered their price target on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Robert W. Baird set a $69.00 price objective on shares of Terreno Realty in a report on Friday, May 8th. Finally, Barclays lifted their price objective on shares of Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.93.

Terreno Realty Trading Down 0.6%

TRNO opened at $68.33 on Monday. The business’s 50 day moving average price is $68.33 and its 200 day moving average price is $65.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $7.45 billion, a PE ratio of 18.48 and a beta of 1.03. Terreno Realty has a one year low of $53.00 and a one year high of $78.94.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. The firm had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. As a group, equities research analysts expect that Terreno Realty will post 2.82 EPS for the current year.

Institutional Trading of Terreno Realty

A number of large investors have recently made changes to their positions in TRNO. BlackRock Inc. purchased a new position in shares of Terreno Realty during the second quarter worth about $1,213,726,000. Principal Financial Group Inc. lifted its position in Terreno Realty by 246.6% during the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after acquiring an additional 2,979,982 shares during the period. Norges Bank purchased a new position in shares of Terreno Realty in the 4th quarter valued at approximately $168,221,000. Bank of New York Mellon Corp purchased a new position in shares of Terreno Realty in the 2nd quarter valued at approximately $53,869,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Terreno Realty by 1,252.5% in the first quarter. Janus Henderson Group PLC now owns 642,749 shares of the real estate investment trust’s stock valued at $39,487,000 after purchasing an additional 595,225 shares during the period.

About Terreno Realty

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.