Wells Fargo & Company Cuts Terreno Realty (NYSE:TRNO) Price Target to $63.00

Terreno Realty (NYSE:TRNO) had its price target reduced by investment analysts at Wells Fargo & Company from $67.00 to $63.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential upside of 8.84% from the company’s current price.

A number of other analysts also recently issued reports on TRNO. Barclays dropped their target price on shares of Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. BMO Capital Markets lifted their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. StockNews.com raised Terreno Realty from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Piper Sandler decreased their price target on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Finally, Scotiabank lowered their target price on shares of 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.36.

Terreno Realty Stock Down 1.3%

Shares of NYSE:TRNO opened at $57.89 on Monday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.82 and a beta of 1.07. The stock’s 50-day moving average price is $58.99 and its two-hundred day moving average price is $61.43. Terreno Realty has a 12-month low of $48.18 and a 12-month high of $71.63.

Institutional Trading of Terreno Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Terreno Realty by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock worth $902,293,000 after acquiring an additional 1,484,301 shares in the last quarter. FMR LLC raised its holdings in shares of Terreno Realty by 5.9% in the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust’s stock worth $663,987,000 after purchasing an additional 628,116 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Terreno Realty by 2.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust’s stock valued at $333,261,000 after purchasing an additional 125,940 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Terreno Realty by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock worth $262,918,000 after buying an additional 523,950 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Terreno Realty by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust’s stock worth $144,031,000 after buying an additional 19,900 shares during 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.