Scotiabank Issues Pessimistic Forecast for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO) had its target price lowered by research analysts at Scotiabank from $68.00 to $57.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 11.83% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Piper Sandler cut shares of Terreno Realty from an “overweight” rating to a “neutral” rating and cut their target price for the company from $78.00 to $61.00 in a research note on Monday. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and increased their price target for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Finally, Barclays cut their price objective on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $66.55.

Terreno Realty Stock Performance

NYSE:TRNO opened at $50.97 on Monday. The firm has a market capitalization of $5.25 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty has a 12-month low of $50.44 and a 12-month high of $71.63. The firm has a 50-day moving average price of $64.96 and a 200 day moving average price of $62.99.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Research analysts anticipate that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Institutional Trading of Terreno Realty

Several institutional investors and hedge funds have recently made changes to their positions in TRNO. Mariner LLC grew its stake in shares of Terreno Realty by 3.7% during the fourth quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 161 shares during the period. MML Investors Services LLC grew its position in shares of Terreno Realty by 6.1% during the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 249 shares during the period. First Trust Advisors LP increased its stake in shares of Terreno Realty by 0.9% in the 4th quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust’s stock valued at $1,810,000 after acquiring an additional 271 shares during the last quarter. Arizona State Retirement System raised its position in shares of Terreno Realty by 1.0% in the 4th quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock valued at $1,663,000 after acquiring an additional 276 shares during the period. Finally, Summit Investment Advisors Inc. boosted its stake in Terreno Realty by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust’s stock worth $591,000 after acquiring an additional 316 shares during the last quarter.

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.