Terreno Realty (NYSE:TRNO) Price Target Cut to $64.00 by Analysts at Wells Fargo & Company

Terreno Realty (NYSE:TRNO) had its price target dropped by equities researchers at Wells Fargo & Company from $68.00 to $64.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 0.37% from the stock’s previous close.

Several other brokerages have also recently weighed in on TRNO. Scotiabank lifted their price target on Terreno Realty from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Citigroup lifted their price target on Terreno Realty from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. KeyCorp lifted their price target on Terreno Realty from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Piper Sandler lifted their price target on Terreno Realty from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Finally, Cantor Fitzgerald lifted their price target on Terreno Realty from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.64.

Terreno Realty Stock Down 2.2%

Shares of TRNO traded down $1.46 during midday trading on Monday, reaching $64.24. 99,329 shares of the stock were exchanged, compared to its average volume of 686,071. Terreno Realty has a 52 week low of $53.00 and a 52 week high of $67.55. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $64.66 and its two-hundred day moving average is $63.11. The company has a market capitalization of $6.83 billion, a P/E ratio of 15.71 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.36. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The company had revenue of $124.44 million for the quarter, compared to the consensus estimate of $122.60 million. On average, sell-side analysts anticipate that Terreno Realty will post 2.79 earnings per share for the current year.

Hedge Funds Weigh In On Terreno Realty

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of Terreno Realty by 57.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in Terreno Realty during the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. lifted its stake in Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 350 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Terreno Realty by 52.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 172 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Terreno Realty during the 4th quarter worth about $30,000.

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.