Scotiabank Boosts Terreno Realty (NYSE:TRNO) Price Target to $72.00

Key Points

• Scotiabank raised Terreno Realty’s price target from $68 to $72 while maintaining a “sector outperform” rating, implying 5.33% upside. The stock has a consensus “Moderate Buy” rating and an average target of $72.43.
• Terreno Realty shares rose 0.1% to $68.36, while the REIT’s latest quarterly EPS of $0.54 exceeded analyst estimates of $0.41, despite revenue coming in slightly below expectations.
• Two company executives recently sold shares, reducing their holdings, while several institutional investors increased their positions in Terreno Realty.

Terreno Realty (NYSE:TRNO - Get Free Report) had its price target increased by analysts at Scotiabank from $68.00 to $72.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price objective suggests a potential upside of 5.33% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group raised their price objective on Terreno Realty from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Citigroup increased their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the company a "neutral" rating in a research report on Monday. UBS Group set a $68.00 price objective on shares of Terreno Realty in a research note on Thursday, June 18th. Weiss Ratings restated a "buy (b)" rating on shares of Terreno Realty in a research note on Friday, July 31st. Finally, Piper Sandler lifted their price target on shares of Terreno Realty from $79.00 to $91.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.43.

Terreno Realty Stock Up 0.1%

Shares of TRNO stock traded up $0.10 on Wednesday, hitting $68.36. The stock had a trading volume of 63,848 shares, compared to its average volume of 769,232. Terreno Realty has a one year low of $53.46 and a one year high of $78.94. The business has a 50 day moving average price of $68.52 and a 200 day moving average price of $65.82. The company has a market cap of $7.45 billion, a PE ratio of 18.33 and a beta of 1.03. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. The firm had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. Research analysts anticipate that Terreno Realty will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Terreno Realty news, EVP John Tull Meyer sold 4,447 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were 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 owned 131,825 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction on Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the sale, the president owned 425,381 shares of the company's stock, valued at $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Sage Rhino Capital LLC boosted its holdings in Terreno Realty by 36.6% during the fourth quarter. Sage Rhino Capital LLC now owns 40,190 shares of the real estate investment trust's stock worth $2,360,000 after buying an additional 10,777 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Terreno Realty by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust's stock valued at $70,950,000 after buying an additional 81,444 shares in the last quarter. Strs Ohio increased its holdings in Terreno Realty by 27.0% in the fourth quarter. Strs Ohio now owns 363,700 shares of the real estate investment trust's stock valued at $21,353,000 after buying an additional 77,400 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Terreno Realty by 4.2% in the first quarter. Bessemer Group Inc. now owns 680,641 shares of the real estate investment trust's stock worth $41,805,000 after acquiring an additional 27,624 shares during the period. Finally, Sei Investments Co. raised its position in shares of Terreno Realty by 16.1% in the first quarter. Sei Investments Co. now owns 275,521 shares of the real estate investment trust's stock worth $16,923,000 after acquiring an additional 38,218 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.

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