Robert W. Baird Issues Pessimistic Forecast for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO) had its target price decreased by stock analysts at Robert W. Baird from $70.00 to $69.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird‘s price target suggests a potential upside of 2.65% from the stock’s current price.

TRNO has been the subject of a number of other reports. Scotiabank increased their target price on Terreno Realty from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Royal Bank Of Canada set a $73.00 price target on Terreno Realty in a research note on Wednesday, October 7th. BTIG Research reiterated a “buy” rating and issued a $80.00 price target on shares of Terreno Realty in a research report on Tuesday. Wells Fargo & Company increased their price objective on Terreno Realty from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. Finally, Citigroup reissued a “market outperform” rating on shares of Terreno Realty in a report on Wednesday, October 7th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.88.

Terreno Realty Price Performance

Shares of Terreno Realty stock opened at $67.22 on Thursday. The firm has a market cap of $7.42 billion, a P/E ratio of 20.07 and a beta of 0.98. The firm’s 50-day simple moving average is $65.55 and its 200-day simple moving average is $65.97. Terreno Realty has a twelve month low of $57.95 and a twelve month high of $78.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.77 and a current ratio of 0.77.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. The firm had revenue of $132.23 million during the quarter, compared to analysts’ expectations of $128.72 million. Terreno Realty had a net margin of 68.05% and a return on equity of 8.10%. As a group, research analysts expect that Terreno Realty will post 2.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. BlackRock Inc. bought a new position in shares of Terreno Realty in the second quarter worth about $1,213,726,000. Legal & General Group Plc bought a new stake in shares of Terreno Realty during the second quarter valued at approximately $61,764,000. Bank of New York Mellon Corp bought a new stake in shares of Terreno Realty during the second quarter valued at approximately $53,869,000. Bank of America Corp DE acquired a new stake in shares of Terreno Realty in the second quarter valued at approximately $52,358,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Terreno Realty by 19,261.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 646,088 shares of the real estate investment trust’s stock valued at $41,847,000 after purchasing an additional 642,751 shares in the last quarter.

Terreno Realty Company Profile

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties. Its portfolio includes warehouses and distribution facilities, as well as other properties used for activities such as transportation, logistics, and light manufacturing. The company focuses on major coastal U.S. markets, including New York City, Northern New Jersey, Los Angeles, the San Francisco Bay Area, Seattle, and Miami. In addition to acquiring and leasing properties, Terreno pursues redevelopment and improvement projects to support its tenants’ industrial and distribution needs.