Barclays Cuts Terreno Realty (NYSE:TRNO) Price Target to $57.00

Terreno Realty (NYSE:TRNO) had its target price cut by Barclays from $60.00 to $57.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential downside of 9.50% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. JMP Securities reiterated a “market outperform” rating and set a $72.00 price objective on shares of Terreno Realty in a research note on Monday, February 10th. Scotiabank increased their price target on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Friday, February 28th. BMO Capital Markets raised their price objective on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Piper Sandler decreased their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Terreno Realty has a consensus rating of “Hold” and a consensus target price of $69.09.

Terreno Realty Price Performance

Shares of Terreno Realty stock opened at $62.99 on Tuesday. The business’s fifty day moving average price is $65.89 and its 200 day moving average price is $63.75. Terreno Realty has a twelve month low of $53.78 and a twelve month high of $71.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $6.28 billion, a P/E ratio of 32.78, a PEG ratio of 2.82 and a beta of 0.93.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, research analysts anticipate that Terreno Realty will post 2.64 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Mariner LLC raised its stake in shares of Terreno Realty by 3.7% in the 4th quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 161 shares in the last quarter. MML Investors Services LLC increased its holdings in Terreno Realty by 6.1% in the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 249 shares during the last quarter. First Trust Advisors LP raised its stake in Terreno Realty by 0.9% during the fourth quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust’s stock valued at $1,810,000 after buying an additional 271 shares in the last quarter. Arizona State Retirement System lifted its holdings in Terreno Realty by 1.0% during the 4th quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock worth $1,663,000 after buying an additional 276 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in shares of Terreno Realty by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust’s stock worth $591,000 after acquiring an additional 316 shares in 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.