Terreno Realty’s (TRNO) “Buy” Rating Reaffirmed at BTIG Research

Terreno Realty (NYSE:TRNO)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a report released on Tuesday, Benzinga reports. They currently have a $80.00 price target on the real estate investment trust’s stock. BTIG Research‘s price target would indicate a potential upside of 18.82% from the company’s current price.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group restated a “buy” rating and issued a $74.00 price objective on shares of Terreno Realty in a report on Monday, November 2nd. Wells Fargo & Company increased their target price on shares of Terreno Realty from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 1st. Citigroup reissued a “market outperform” rating on shares of Terreno Realty in a research note on Wednesday, October 7th. Piper Sandler lowered their price target on shares of Terreno Realty from $91.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Finally, BMO Capital Markets upgraded shares of Terreno Realty from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.88.

Terreno Realty Price Performance

Shares of Terreno Realty stock opened at $67.33 on Tuesday. The business has a 50 day simple moving average of $65.52 and a two-hundred day simple moving average of $65.92. Terreno Realty has a 12 month low of $57.95 and a 12 month high of $78.94. The stock has a market capitalization of $7.34 billion, a P/E ratio of 20.10 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. Terreno Realty had a return on equity of 8.23% and a net margin of 68.05%. The firm had revenue of $132.23 million for the quarter, compared to analyst estimates of $128.72 million. As a group, analysts predict that Terreno Realty will post 2.83 EPS for the current fiscal year.

Institutional Trading of Terreno Realty

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Terreno Realty in the 2nd quarter worth $1,213,726,000. Principal Financial Group Inc. boosted its position in shares of Terreno Realty by 246.6% during 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 last quarter. Resolution Capital Ltd grew its holdings in shares of Terreno Realty by 6.7% in the first quarter. Resolution Capital Ltd now owns 1,623,857 shares of the real estate investment trust’s stock valued at $99,737,000 after purchasing an additional 101,709 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Terreno Realty by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,584,304 shares of the real estate investment trust’s stock valued at $97,306,000 after purchasing an additional 36,955 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of Terreno Realty in the second quarter valued at about $61,764,000.

About Terreno Realty

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties. Its portfolio includes warehouses and distribution facilities, as well as other properties used for activities such as transportation, logistics, and light manufacturing.

The company focuses on major coastal U.S. markets, including New York City, Northern New Jersey, Los Angeles, the San Francisco Bay Area, Seattle, and Miami. In addition to acquiring and leasing properties, Terreno pursues redevelopment and improvement projects to support its tenants’ industrial and distribution needs.

Terreno Realty was founded in 2009.