Terreno Realty (NYSE:TRNO) Given New $77.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Terreno Realty’s price target from $75 to $77 while maintaining an “overweight” rating, implying approximately 12.93% upside from the stock’s $68.18 price. Analysts overall have a “Moderate Buy” consensus with an average target of $72.57.
• Terreno Realty reported quarterly EPS of $0.54, beating the $0.41 consensus estimate, although revenue of $124.71 million fell short of expectations. The stock was down 0.1% and has traded between $53.58 and $78.94 over the past year.
• Company insiders recently sold shares, including 4,447 shares by EVP John Tull Meyer and 8,000 shares by President Michael A. Coke. Meanwhile, several institutional investors—including Bank of America, Jupiter Topco and HSBC—established new positions during the second quarter.

Terreno Realty (NYSE:TRNO - Get Free Report) had its price target upped by stock analysts at Cantor Fitzgerald from $75.00 to $77.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Cantor Fitzgerald's price target would indicate a potential upside of 12.93% from the company's current price.

Other research analysts have also issued research reports about the stock. Piper Sandler raised their target price on shares of Terreno Realty from $79.00 to $91.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Citigroup increased their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the company a "neutral" rating in a report on Monday, August 10th. The Goldman Sachs Group raised their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Terreno Realty in a report on Friday, July 31st. Finally, Raymond James Financial began coverage on shares of Terreno Realty in a report on Wednesday, June 17th. They set an "underperform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.57.

Terreno Realty Stock Down 0.1%

NYSE TRNO opened at $68.18 on Monday. 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. The stock has a market capitalization of $7.43 billion, a P/E ratio of 18.28 and a beta of 1.03. The stock has a fifty day moving average of $68.78 and a 200-day moving average of $65.97.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, equities research analysts forecast that Terreno Realty will post 2.82 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Terreno Realty

Institutional investors and hedge funds have recently modified their holdings of the business. Bamco Inc. NY bought a new position in Terreno Realty in the second quarter valued at approximately $4,374,000. Bank of America Corp DE bought a new stake in shares of Terreno Realty in the second quarter valued at about $52,358,000. Odyssean LLC bought a new position in shares of Terreno Realty during the second quarter worth about $2,862,000. Jupiter Topco LLC bought a new stake in Terreno Realty in the 2nd quarter valued at approximately $38,778,000. Finally, Hsbc Holdings PLC bought a new position in shares of Terreno Realty during the 2nd quarter worth approximately $23,320,000.

About Terreno Realty

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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