Terreno Realty (NYSE:TRNO) Stock Rating Reaffirmed as Buy by BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on Terreno Realty and set an $80 price target, implying 18.82% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports an average rating of “Moderate Buy” and an average price target of $73.88.
• Terreno Realty beat quarterly estimates, reporting EPS of $0.62 versus $0.45 expected and revenue of $132.23 million versus $128.72 million expected.

Terreno Realty (NYSE:TRNO - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at BTIG Research in a research note issued on Tuesday, Benzinga reports. They presently have a $80.00 target price on the real estate investment trust's stock. BTIG Research's price target would indicate a potential upside of 18.82% from the company's previous close.

Other equities research analysts have also issued research reports about the company. UBS Group set a $74.00 price objective on Terreno Realty in a research report on Monday, September 21st. Wells Fargo & Company lifted their target price on shares of Terreno Realty from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Tuesday, September 1st. Weiss Ratings cut shares of Terreno Realty from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, September 3rd. Piper Sandler decreased their target price on shares of Terreno Realty from $91.00 to $85.00 and set an "overweight" rating for the company in a research note on Monday, October 12th. Finally, Scotiabank increased their price target on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.88.

Terreno Realty Stock Performance

NYSE TRNO opened at $67.33 on Tuesday. The firm has a market capitalization of $7.34 billion, a P/E ratio of 20.10 and a beta of 0.98. The stock has a 50-day simple moving average of $65.52 and a two-hundred day simple moving average of $65.92. 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 fifty-two week low of $57.95 and a fifty-two week high of $78.94.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $128.72 million. Terreno Realty had a return on equity of 8.23% and a net margin of 68.05%. On average, equities analysts forecast that Terreno Realty will post 2.83 earnings per share for the current year.

Institutional Trading of Terreno Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Edgestream Partners L.P. acquired a new stake in Terreno Realty in the 3rd quarter valued at $9,217,000. Bessemer Group Inc. raised its position in Terreno Realty by 2.2% during the third quarter. Bessemer Group Inc. now owns 704,440 shares of the real estate investment trust's stock worth $45,471,000 after acquiring an additional 15,226 shares during the period. Hantz Financial Services Inc. raised its position in Terreno Realty by 6.8% during the third quarter. Hantz Financial Services Inc. now owns 4,139 shares of the real estate investment trust's stock worth $267,000 after acquiring an additional 265 shares during the period. Virtus Advisers LLC acquired a new position in Terreno Realty during the third quarter worth $795,000. Finally, Aberdeen Group plc lifted its holdings in Terreno Realty by 453.6% during the third quarter. Aberdeen Group plc now owns 234,611 shares of the real estate investment trust's stock valued at $15,144,000 after purchasing an additional 192,230 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.

Terreno Realty was founded in 2009.

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