Scotiabank Issues Pessimistic Forecast for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO) had its price objective decreased by equities researchers at Scotiabank from $68.00 to $57.00 in a report released on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 5.34% from the stock’s current price.

Other equities analysts have also issued reports about the company. Piper Sandler lowered Terreno Realty from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $78.00 to $61.00 in a report on Monday. BMO Capital Markets increased their price objective on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Barclays decreased their price target on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Terreno Realty presently has a consensus rating of “Hold” and an average target price of $66.55.

Terreno Realty Stock Performance

TRNO traded down $1.75 during midday trading on Monday, reaching $54.11. The company had a trading volume of 929,482 shares, compared to its average volume of 884,251. The business has a 50-day moving average price of $65.80 and a two-hundred day moving average price of $63.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. Terreno Realty has a 12-month low of $52.07 and a 12-month high of $71.63. The stock has a market cap of $5.57 billion, a PE ratio of 28.25, a P/E/G ratio of 2.82 and a beta of 1.00.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, sell-side analysts expect that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Terreno Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake 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 purchasing an additional 1,484,301 shares during the last quarter. FMR LLC lifted its stake 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 valued at $663,987,000 after acquiring an additional 628,116 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Terreno Realty by 4.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,145,502 shares of the real estate investment trust’s stock valued at $304,305,000 after acquiring an additional 210,696 shares during the period. Geode Capital Management LLC grew its position in Terreno Realty by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust’s stock worth $144,031,000 after acquiring an additional 19,900 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Terreno Realty by 51.6% in the 4th quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust’s stock worth $109,150,000 after purchasing an additional 628,065 shares during the period.

About Terreno Realty

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.