Scotiabank Has Lowered Expectations for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO) had its target price decreased by Scotiabank from $70.00 to $68.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential upside of 6.05% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Robert W. Baird set a $69.00 target price on Terreno Realty in a report on Friday, May 8th. Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Wells Fargo & Company reduced their target price on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. UBS Group set a $68.00 price target on Terreno Realty in a research report on Thursday. Finally, Raymond James Financial assumed coverage on Terreno Realty in a research report on Wednesday. They set an “underperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Terreno Realty has a consensus rating of “Moderate Buy” and an average target price of $69.21.

Terreno Realty Stock Performance

NYSE:TRNO traded up $0.26 during trading hours on Thursday, reaching $64.12. 293,346 shares of the stock were exchanged, compared to its average volume of 698,984. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $65.64 and a 200-day simple moving average of $63.47. Terreno Realty has a 52 week low of $53.00 and a 52 week high of $67.83. The stock has a market capitalization of $6.82 billion, a P/E ratio of 15.68 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, topping 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. As a group, sell-side analysts forecast that Terreno Realty will post 2.79 earnings per share for the current fiscal year.

Institutional Trading of Terreno Realty

A number of institutional investors and hedge funds have recently made changes to their positions in TRNO. Principal Financial Group Inc. increased its position in Terreno Realty by 246.6% in the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock valued at $257,257,000 after acquiring an additional 2,979,982 shares during the period. Norges Bank acquired a new stake in Terreno Realty in the 4th quarter valued at approximately $168,221,000. Janus Henderson Group PLC increased its position in Terreno Realty by 1,252.5% in the 1st quarter. Janus Henderson Group PLC now owns 642,749 shares of the real estate investment trust’s stock valued at $39,487,000 after acquiring an additional 595,225 shares during the period. Balyasny Asset Management L.P. increased its position in Terreno Realty by 529.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 407,497 shares of the real estate investment trust’s stock valued at $23,924,000 after acquiring an additional 342,740 shares during the period. Finally, UBS Group AG increased its position in Terreno Realty by 108.1% in the 3rd quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock valued at $34,044,000 after acquiring an additional 311,559 shares during the period.

About Terreno Realty

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.