Terreno Realty (NYSE:TRNO) Coverage Initiated at Barclays

Stock analysts at Barclays started coverage on shares of Terreno Realty (NYSE:TRNO) in a note issued to investors on Wednesday, Marketbeat reports. The firm set an “overweight” rating and a $71.00 price target on the real estate investment trust’s stock. Barclays‘s target price would indicate a potential upside of 6.91% from the company’s previous close.

TRNO has been the topic of several other research reports. Piper Sandler boosted their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a research note on Saturday, March 23rd. Wells Fargo & Company started coverage on shares of Terreno Realty in a research note on Thursday, December 7th. They issued an “overweight” rating and a $71.00 target price on the stock. Mizuho dropped their target price on shares of Terreno Realty from $67.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 5th. Finally, The Goldman Sachs Group upped their target price on shares of Terreno Realty from $60.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $66.00.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $66.41 on Wednesday. Terreno Realty has a 1 year low of $50.42 and a 1 year high of $66.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.68 and a quick ratio of 2.68. The company’s 50-day moving average is $62.82 and its 200 day moving average is $59.78. The stock has a market capitalization of $5.98 billion, a P/E ratio of 36.69, a P/E/G ratio of 2.97 and a beta of 0.81.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. The business had revenue of $86.48 million for the quarter, compared to analyst estimates of $84.06 million. On average, sell-side analysts expect that Terreno Realty will post 2.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Terreno Realty by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 12,061,890 shares of the real estate investment trust’s stock valued at $755,919,000 after purchasing an additional 142,712 shares during the period. BlackRock Inc. lifted its position in Terreno Realty by 4.6% during the second quarter. BlackRock Inc. now owns 8,663,697 shares of the real estate investment trust’s stock valued at $520,688,000 after purchasing an additional 383,931 shares during the period. FMR LLC lifted its position in Terreno Realty by 10.3% during the third quarter. FMR LLC now owns 5,260,376 shares of the real estate investment trust’s stock valued at $298,789,000 after purchasing an additional 493,182 shares during the period. Principal Financial Group Inc. increased its holdings in Terreno Realty by 0.9% during the third quarter. Principal Financial Group Inc. now owns 4,475,199 shares of the real estate investment trust’s stock valued at $254,189,000 after buying an additional 39,020 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Terreno Realty by 5.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,323,645 shares of the real estate investment trust’s stock valued at $245,886,000 after buying an additional 217,579 shares during the last quarter.

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.