Terreno Realty (NYSE:TRNO) Price Target Lowered to $60.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered Terreno Realty's price target from $63.00 to $60.00 while maintaining an "equal weight" rating for the stock.
• Several research firms have varied opinions on Terreno Realty, with Goldman Sachs setting a price target of $64.00 and Wall Street Zen upgrading the stock to a "hold" rating.
• Terreno Realty shares saw a trading increase of 2.0%, reaching $58.31, and have a market capitalization of approximately $6.02 billion.

Terreno Realty (NYSE:TRNO - Get Free Report) had its price target lowered by analysts at Wells Fargo & Company from $63.00 to $60.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective indicates a potential upside of 2.90% from the company's current price.

Several other research firms have also recently issued reports on TRNO. The Goldman Sachs Group set a $64.00 price objective on shares of Terreno Realty and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. KeyCorp cut their price objective on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, August 21st. Finally, Barclays cut their price objective on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Terreno Realty has an average rating of "Hold" and an average target price of $62.80.

Terreno Realty Trading Up 2.0%

Shares of TRNO traded up $1.12 during mid-day trading on Wednesday, reaching $58.31. The stock had a trading volume of 171,826 shares, compared to its average volume of 913,782. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. Terreno Realty has a 52-week low of $48.18 and a 52-week high of $70.10. The business's fifty day moving average is $56.29 and its 200 day moving average is $59.10. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 2.46 and a beta of 1.02.

Insider Activity at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the transaction, the president owned 412,415 shares of the company's stock, valued at approximately $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company's stock.

Institutional Trading of Terreno Realty

Several hedge funds have recently added to or reduced their stakes in TRNO. Norges Bank acquired a new stake in Terreno Realty in the second quarter valued at approximately $156,525,000. Nuveen LLC acquired a new stake in Terreno Realty in the first quarter valued at approximately $83,095,000. Deutsche Bank AG raised its holdings in Terreno Realty by 287.6% in the fourth quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust's stock valued at $91,454,000 after acquiring an additional 1,147,404 shares in the last quarter. Northern Trust Corp raised its holdings in Terreno Realty by 51.6% in the fourth quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock valued at $109,150,000 after acquiring an additional 628,065 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in Terreno Realty in the second quarter valued at approximately $33,699,000.

Terreno Realty Company Profile

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.

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