Citizens Jmp Increases Terreno Realty (NYSE:TRNO) Price Target to $70.00

Terreno Realty (NYSE:TRNO) had its price objective increased by stock analysts at Citizens Jmp from $66.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price objective points to a potential upside of 5.72% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. KeyCorp reissued an “overweight” rating on shares of Terreno Realty in a report on Wednesday, January 14th. Citigroup restated an “outperform” rating on shares of Terreno Realty in a research report on Friday. The Goldman Sachs Group increased their target price on Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Barclays reissued a “positive” rating and set a $60.00 price target on shares of Terreno Realty in a report on Tuesday, January 13th. Finally, Weiss Ratings raised shares of Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Terreno Realty currently has a consensus rating of “Moderate Buy” and an average target price of $67.40.

Terreno Realty Stock Performance

TRNO stock opened at $66.21 on Friday. The stock’s 50 day simple moving average is $61.15 and its 200 day simple moving average is $59.20. Terreno Realty has a 12-month low of $48.18 and a 12-month high of $69.20. The firm has a market cap of $6.90 billion, a P/E ratio of 16.98, a P/E/G ratio of 2.66 and a beta of 1.13. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.68. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. The firm had revenue of $137.48 million during the quarter, compared to analyst estimates of $124.72 million. As a group, equities research analysts predict that Terreno Realty will post 2.64 EPS for the current year.

Institutional Investors Weigh In On Terreno Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Congress Asset Management Co. raised its stake in Terreno Realty by 4.8% during the 3rd quarter. Congress Asset Management Co. now owns 545,558 shares of the real estate investment trust’s stock valued at $30,960,000 after purchasing an additional 25,202 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Terreno Realty by 2.2% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 112,252 shares of the real estate investment trust’s stock worth $6,294,000 after buying an additional 2,463 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Terreno Realty by 88.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,268 shares of the real estate investment trust’s stock valued at $1,753,000 after buying an additional 14,664 shares in the last quarter. Castellan Group purchased a new position in shares of Terreno Realty during the third quarter valued at $3,578,000. Finally, Strs Ohio raised its position in Terreno Realty by 131.6% during the third quarter. Strs Ohio now owns 286,300 shares of the real estate investment trust’s stock valued at $16,248,000 after buying an additional 162,700 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.