Terreno Realty’s (TRNO) Market Outperform Rating Reaffirmed at JMP Securities

Terreno Realty (NYSE:TRNO)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a report issued on Thursday, Benzinga reports. They currently have a $65.00 price target on the real estate investment trust’s stock. JMP Securities’ target price would indicate a potential downside of 1.57% from the company’s current price.

TRNO has been the subject of a number of other research reports. StockNews.com raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. Mizuho dropped their price target 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. Wedbush reiterated a “neutral” rating and set a $67.00 price target on shares of Terreno Realty in a research note on Thursday. Wells Fargo & Company started coverage on shares of Terreno Realty in a research note on Thursday, December 7th. They set an “overweight” rating and a $71.00 price target on the stock. Finally, Piper Sandler lifted their price target 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. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $66.00.

Terreno Realty Stock Up 1.1 %

Shares of TRNO traded up $0.71 on Thursday, hitting $66.04. 276,419 shares of the stock traded hands, compared to its average volume of 667,105. The company has a market capitalization of $5.95 billion, a PE ratio of 36.44, a P/E/G ratio of 2.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.68 and a current ratio of 2.68. The business has a 50 day simple moving average of $62.72 and a 200 day simple moving average of $59.73. Terreno Realty has a one year low of $50.42 and a one year high of $66.41.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating 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 company had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.06 million. As a group, equities analysts forecast that Terreno Realty will post 2.39 earnings per share for the current fiscal year.

Institutional Trading of Terreno Realty

A number of large investors have recently made changes to their positions in the business. Norges Bank bought a new position in Terreno Realty during the 4th quarter valued at about $49,505,000. Public Employees Retirement Association of Colorado grew its holdings in Terreno Realty by 91,086.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 713,076 shares of the real estate investment trust’s stock valued at $44,688,000 after purchasing an additional 712,294 shares during the last quarter. State Street Corp grew its holdings in Terreno Realty by 18.7% during the 1st quarter. State Street Corp now owns 3,642,466 shares of the real estate investment trust’s stock valued at $270,935,000 after purchasing an additional 574,544 shares during the last quarter. BlackRock Inc. grew its holdings in Terreno Realty by 7.1% during the 1st quarter. BlackRock Inc. now owns 8,279,766 shares of the real estate investment trust’s stock valued at $534,873,000 after purchasing an additional 549,823 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Terreno Realty by 177.2% during the 4th quarter. Morgan Stanley now owns 828,334 shares of the real estate investment trust’s stock valued at $47,107,000 after purchasing an additional 529,563 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.