Terreno Realty (NYSE:TRNO) Given Neutral Rating at Wedbush

Terreno Realty (NYSE:TRNO)‘s stock had its “neutral” rating reaffirmed by investment analysts at Wedbush in a research note issued on Thursday, Benzinga reports. They presently have a $67.00 price target on the real estate investment trust’s stock. Wedbush’s target price would indicate a potential upside of 2.54% from the company’s current price.

Other analysts have also recently issued research reports about the stock. 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 target price on the stock. Barclays started coverage on shares of Terreno Realty in a research note on Wednesday. They set an “overweight” rating and a $71.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Terreno Realty from $60.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. 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 report on Friday, March 22nd. Finally, StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a report on Saturday, March 23rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $66.67.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $65.34 on Thursday. The company’s 50 day simple moving average is $62.72 and its 200 day simple moving average is $59.73. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.68 and a quick ratio of 2.68. Terreno Realty has a 1 year low of $50.42 and a 1 year high of $65.64.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The business had revenue of $86.48 million for the quarter, compared to analysts’ expectations of $84.06 million. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. As a group, research analysts predict that Terreno Realty will post 2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds and other institutional investors have recently made changes to their positions in TRNO. Vanguard Group Inc. grew its position in Terreno Realty by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust’s stock worth $677,009,000 after purchasing an additional 168,728 shares in the last quarter. Wellington Management Group LLP boosted its stake in Terreno Realty by 8.4% in the third quarter. Wellington Management Group LLP now owns 598,005 shares of the real estate investment trust’s stock valued at $33,967,000 after acquiring an additional 46,475 shares during the last quarter. Wolverine Asset Management LLC boosted its stake in Terreno Realty by 63.9% in the third quarter. Wolverine Asset Management LLC now owns 27,224 shares of the real estate investment trust’s stock valued at $1,546,000 after acquiring an additional 10,617 shares during the last quarter. Invesco Ltd. boosted its stake in Terreno Realty by 11.1% in the third quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust’s stock valued at $233,632,000 after acquiring an additional 411,973 shares during the last quarter. Finally, Pinebridge Investments L.P. purchased a new position in Terreno Realty in the second quarter valued at about $49,000.

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.