Terreno Realty (NYSE:TRNO) Price Target Raised to $63.00 at Wells Fargo & Company

Terreno Realty (NYSE:TRNO) had its price target lifted by equities researchers at Wells Fargo & Company from $60.00 to $63.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 0.31% from the stock’s previous close.

TRNO has been the subject of several other research reports. Citigroup raised their price target on Terreno Realty from $58.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Scotiabank upgraded shares of Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 target price for the company in a research note on Monday, November 10th. Barclays upped their price target on shares of Terreno Realty from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, September 15th. The Goldman Sachs Group boosted their price objective on Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Terreno Realty in a research note on Thursday. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.25.

Terreno Realty Trading Up 0.9%

Shares of TRNO stock traded up $0.53 on Tuesday, reaching $62.80. The company had a trading volume of 186,751 shares, compared to its average volume of 848,596. The stock has a market cap of $6.49 billion, a PE ratio of 24.92, a PEG ratio of 2.51 and a beta of 1.07. The company has a 50-day moving average of $59.20 and a 200-day moving average of $57.74. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. Terreno Realty has a 12 month low of $48.18 and a 12 month high of $69.20.

Terreno Realty (NYSE:TRNO) last posted its 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 during the quarter, compared to analysts’ expectations of $114.62 million. Terreno Realty had a return on equity of 6.71% and a net margin of 59.56%. On average, equities analysts forecast that Terreno Realty will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John Tull Meyer sold 4,758 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $59.95, for a total value of $285,242.10. Following the sale, the executive vice president owned 119,949 shares of the company’s stock, valued at $7,190,942.55. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.40% of the stock is owned by insiders.

Institutional Trading of Terreno Realty

Several institutional investors have recently added to or reduced their stakes in TRNO. Norges Bank bought a new stake in Terreno Realty during the second quarter valued at $156,525,000. Nuveen LLC acquired a new position in shares of Terreno Realty in the 1st quarter valued at about $83,095,000. Osterweis Capital Management Inc. bought a new stake in shares of Terreno Realty during the 2nd quarter valued at about $33,699,000. Price T Rowe Associates Inc. MD grew its stake in Terreno Realty by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock worth $262,918,000 after purchasing an additional 523,950 shares during the period. Finally, Boston Trust Walden Corp acquired a new stake in Terreno Realty during the third quarter worth approximately $26,957,000.

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.