Terreno Realty (NYSE:TRNO) Stock Price Expected to Rise, Mizuho Analyst Says

Terreno Realty (NYSE:TRNO) had its price objective upped by investment analysts at Mizuho from $53.00 to $56.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the real estate investment trust’s stock. Mizuho’s price objective indicates a potential downside of 10.10% from the stock’s previous close.

A number of other research firms have also recently commented on TRNO. Cantor Fitzgerald initiated coverage on shares of Terreno Realty in a research note on Wednesday, October 1st. They set an “overweight” rating and a $70.00 target price for the company. Scotiabank upgraded Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 price objective for the company in a research note on Monday, November 10th. The Goldman Sachs Group increased their target price on Terreno Realty from $64.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. KeyCorp lifted their price target on Terreno Realty from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Barclays increased their price objective on Terreno Realty from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, September 15th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.54.

Terreno Realty Stock Down 0.2%

Shares of TRNO opened at $62.29 on Thursday. The firm has a market cap of $6.44 billion, a P/E ratio of 19.78, a PEG ratio of 2.56 and a beta of 1.12. Terreno Realty has a 12 month low of $48.18 and a 12 month high of $69.20. The stock’s 50 day moving average is $60.00 and its two-hundred day moving average is $58.02. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The firm had revenue of $116.25 million for the quarter, compared to analysts’ expectations of $114.62 million. Terreno Realty had a net margin of 72.41% and a return on equity of 8.27%. Analysts predict that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Terreno Realty

In related news, EVP John Tull Meyer sold 4,758 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $59.95, for a total transaction of $285,242.10. Following the completion of the sale, the executive vice president directly owned 119,949 shares of the company’s stock, valued at approximately $7,190,942.55. This trade represents a 3.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors have recently made changes to their positions in TRNO. Caitong International Asset Management Co. Ltd raised its stake in shares of Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 172 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Terreno Realty by 73.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 189 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Terreno Realty by 15.4% in the second quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 193 shares during the period. Mackenzie Financial Corp lifted its stake in Terreno Realty by 2.8% during the third quarter. Mackenzie Financial Corp now owns 7,072 shares of the real estate investment trust’s stock worth $401,000 after purchasing an additional 193 shares in the last quarter. Finally, Norinchukin Bank The lifted its stake in Terreno Realty by 4.5% during the first quarter. Norinchukin Bank The now owns 4,606 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 197 shares in the last quarter.

Terreno Realty Company Profile

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.