Terreno Realty (NYSE:TRNO) Stock Rating Upgraded by Piper Sandler

Terreno Realty (NYSE:TRNO) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Monday, MarketBeat Ratings reports. The firm presently has a $75.00 price target on the real estate investment trust’s stock. Piper Sandler’s price objective would indicate a potential upside of 21.21% from the stock’s current price.

Several other analysts have also recently issued reports on TRNO. Cantor Fitzgerald began coverage on shares of Terreno Realty in a research note on Wednesday, October 1st. They set an “overweight” rating and a $70.00 price objective for the company. Barclays lifted their target price on Terreno Realty from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, September 15th. The Goldman Sachs Group upped their price target on Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. KeyCorp cut their price objective on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, August 21st. Finally, Scotiabank upgraded Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 target price for the company in a report on Monday. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Terreno Realty presently has an average rating of “Moderate Buy” and an average price target of $67.27.

Terreno Realty Stock Up 1.2%

Shares of NYSE:TRNO opened at $61.88 on Monday. Terreno Realty has a 12-month low of $48.18 and a 12-month high of $69.20. The stock’s 50-day moving average price is $58.72 and its two-hundred day moving average price is $57.48. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.51 and a beta of 1.07.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, November 12th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.34. Terreno Realty had a net margin of 59.56% and a return on equity of 6.71%. The business had revenue of $116.25 million for the quarter, compared to analyst estimates of $114.62 million. On average, research analysts forecast that Terreno Realty will post 2.64 EPS for the current year.

Insider Transactions at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the sale, the president owned 412,415 shares in the company, valued at approximately $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Tull Meyer sold 4,758 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $59.95, for a total value of $285,242.10. Following the transaction, the executive vice president directly owned 119,949 shares in the company, valued at $7,190,942.55. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRNO. Envestnet Asset Management Inc. boosted its position in Terreno Realty by 1.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 337,158 shares of the real estate investment trust’s stock valued at $21,315,000 after buying an additional 5,516 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Terreno Realty by 233.9% in the first quarter. Cerity Partners LLC now owns 19,194 shares of the real estate investment trust’s stock worth $1,213,000 after acquiring an additional 13,445 shares in the last quarter. Xponance Inc. boosted its holdings in Terreno Realty by 8.5% in the first quarter. Xponance Inc. now owns 7,447 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 586 shares during the last quarter. Arizona State Retirement System boosted its holdings in Terreno Realty by 1.7% in the first quarter. Arizona State Retirement System now owns 28,608 shares of the real estate investment trust’s stock valued at $1,809,000 after purchasing an additional 486 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Terreno Realty by 2.1% during the 1st quarter. New York State Common Retirement Fund now owns 72,900 shares of the real estate investment trust’s stock valued at $4,609,000 after purchasing an additional 1,500 shares in the last quarter.

Terreno Realty Company Profile

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.