Cantor Fitzgerald Raises Terreno Realty (NYSE:TRNO) Price Target to $77.00

Terreno Realty (NYSE:TRNO) had its price objective increased by analysts at Cantor Fitzgerald from $75.00 to $77.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 12.93% from the company’s previous close.

A number of other research analysts have also commented on TRNO. UBS Group set a $68.00 price target on shares of Terreno Realty in a research note on Thursday, June 18th. The Goldman Sachs Group raised their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Raymond James Financial initiated coverage on Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating for the company. Barclays upped their target price on Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Finally, Citigroup upped their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.57.

Terreno Realty Stock Down 0.1%

Shares of TRNO stock opened at $68.18 on Monday. The firm’s 50-day moving average is $68.78 and its 200-day moving average is $65.97. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 18.28 and a beta of 1.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. Terreno Realty has a 52-week low of $53.58 and a 52-week high of $78.94.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. The business had revenue of $124.71 million for the quarter, compared to analysts’ expectations of $127.15 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. Sell-side analysts predict that Terreno Realty will post 2.82 EPS for the current year.

Insiders Place Their Bets

In other Terreno Realty news, EVP John Tull Meyer sold 4,447 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the transaction, the executive vice president directly owned 131,825 shares in the company, valued at approximately $9,048,468. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael A. Coke sold 8,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the sale, the president owned 425,381 shares in the company, valued at approximately $29,087,552.78. This trade represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors have recently added to or reduced their stakes in TRNO. BlackRock Inc. acquired a new stake in Terreno Realty in the second quarter valued at $1,213,726,000. State Street Corp lifted its stake in shares of Terreno Realty by 4.0% in the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock worth $336,139,000 after acquiring an additional 230,444 shares during the period. Principal Financial Group Inc. increased its position in Terreno Realty by 246.6% during the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock valued at $257,257,000 after purchasing an additional 2,979,982 shares during the period. Norges Bank acquired a new position in shares of Terreno Realty in the 4th quarter worth approximately $168,221,000. Finally, Geode Capital Management LLC increased its position in shares of Terreno Realty by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock worth $159,620,000 after buying an additional 17,921 shares during the period.

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.