Scotiabank Has Lowered Expectations for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO) had its price objective cut by investment analysts at Scotiabank from $70.00 to $68.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would suggest a potential upside of 6.05% from the company’s current price.

A number of other brokerages have also issued reports on TRNO. Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Raymond James Financial started coverage on Terreno Realty in a research note on Wednesday. They set an “underperform” rating for the company. Wells Fargo & Company decreased their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. UBS Group set a $68.00 price target on Terreno Realty in a research note on Thursday. Finally, Robert W. Baird set a $69.00 price target on Terreno Realty in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.21.

Terreno Realty Price Performance

NYSE TRNO traded up $0.26 on Thursday, reaching $64.12. 293,346 shares of the stock traded hands, compared to its average volume of 698,984. The firm’s fifty day simple moving average is $65.64 and its 200 day simple moving average is $63.47. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 15.68 and a beta of 1.05. Terreno Realty has a 12 month low of $53.00 and a 12 month high of $67.83.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.36. The firm had revenue of $124.44 million during the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. As a group, research analysts predict that Terreno Realty will post 2.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Terreno Realty

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in shares of Terreno Realty by 73.3% in the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 189 shares during the period. Wiser Advisor Group LLC acquired a new stake in shares of Terreno Realty in the third quarter worth $25,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Terreno Realty by 52.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 172 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 350 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Terreno Realty in the fourth quarter worth $30,000.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.