Terreno Realty (NYSE:TRNO) Upgraded by Scotiabank to “Sector Outperform” Rating

Terreno Realty (NYSE:TRNO) was upgraded by Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report issued on Monday, MarketBeat.com reports. The firm currently has a $67.00 target price on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 9.90% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald initiated coverage on shares of Terreno Realty in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $70.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Terreno Realty in a research note on Wednesday, October 8th. UBS Group set a $71.00 target price on shares of Terreno Realty in a report on Tuesday, October 21st. KeyCorp cut their price target on shares of Terreno Realty from $70.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, August 21st. Finally, Barclays lifted their price objective on Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, September 15th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.27.

Terreno Realty Trading Up 3.4%

NYSE TRNO opened at $60.96 on Monday. The firm has a market capitalization of $6.30 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The business’s 50-day moving average price is $58.53 and its two-hundred day moving average price is $57.42. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. Terreno Realty has a 12 month low of $48.18 and a 12 month high of $69.20.

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

Insider Transactions at Terreno Realty

In other news, EVP John Tull Meyer sold 4,758 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $59.95, for a total value of $285,242.10. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Michael A. Coke sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the sale, the president directly owned 412,415 shares of the company’s stock, valued at $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Terreno Realty

A number of institutional investors have recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Terreno Realty in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Terreno Realty by 73.3% in the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 189 shares in the last quarter. First Horizon Corp bought a new position in shares of Terreno Realty in the third quarter valued at approximately $26,000. Geneos Wealth Management Inc. increased its position in shares of Terreno Realty by 304.3% during the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 350 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Terreno Realty by 140.6% during the second quarter. Osaic Holdings Inc. now owns 611 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 357 shares during the period.

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.