Terreno Realty (NYSE:TRNO) Price Target Cut to $63.00 by Analysts at Wells Fargo & Company

Terreno Realty (NYSE:TRNO) had its price target decreased by Wells Fargo & Company from $67.00 to $63.00 in a research report released on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on TRNO. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Barclays dropped their target price on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. BMO Capital Markets lifted their target price on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Scotiabank decreased their price target on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 7th. Finally, StockNews.com upgraded Terreno Realty from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Terreno Realty presently has an average rating of “Hold” and a consensus price target of $65.36.

Terreno Realty Trading Down 0.2%

NYSE:TRNO opened at $58.49 on Monday. Terreno Realty has a 12 month low of $48.18 and a 12 month high of $71.63. The firm has a market capitalization of $6.04 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The business’s 50-day moving average is $58.83 and its two-hundred day moving average is $61.42.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a yield of 3.35%. Terreno Realty’s payout ratio is currently 98.49%.

Hedge Funds Weigh In On Terreno Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Terreno Realty by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,135 shares of the real estate investment trust’s stock worth $42,366,000 after buying an additional 24,572 shares during the period. United Services Automobile Association acquired a new position in shares of Terreno Realty during the first quarter worth approximately $407,000. Jones Financial Companies Lllp boosted its position in shares of Terreno Realty by 90.2% during the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 378 shares during the period. UniSuper Management Pty Ltd boosted its position in shares of Terreno Realty by 3.7% during the first quarter. UniSuper Management Pty Ltd now owns 27,700 shares of the real estate investment trust’s stock worth $1,751,000 after buying an additional 1,000 shares during the period. Finally, Resolution Capital Ltd boosted its position in shares of Terreno Realty by 13.6% during the first quarter. Resolution Capital Ltd now owns 1,610,253 shares of the real estate investment trust’s stock worth $101,800,000 after buying an additional 192,268 shares during the period.

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.