Piper Sandler Boosts Terreno Realty (NYSE:TRNO) Price Target to $60.00

Key Points

• Piper Sandler raised the price target for Terreno Realty from $58.00 to $60.00, indicating a potential upside of 3.49% from the previous close while maintaining a "neutral" rating on the stock.
• Barclays set a new price objective of $57.00 for Terreno Realty, while Goldman Sachs indicated a target of $64.00 with a "buy" rating, reflecting mixed analyst sentiments toward the stock.
• Recently, several large investors significantly increased their stakes in Terreno Realty, with EverSource Wealth Advisors increasing holdings by 73.3% during the second quarter.

Terreno Realty (NYSE:TRNO - Get Free Report) had its price objective hoisted by equities research analysts at Piper Sandler from $58.00 to $60.00 in a report released on Thursday, Marketbeat reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's price objective would suggest a potential upside of 2.53% from the stock's previous close.

A number of other research analysts also recently commented on TRNO. KeyCorp reduced their price objective on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday, August 21st. Wells Fargo & Company lowered their price target on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. The Goldman Sachs Group set a $64.00 target price on Terreno Realty and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, Barclays boosted their target price on Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $63.00.

Terreno Realty Trading Down 0.2%

Terreno Realty stock traded down $0.09 during midday trading on Thursday, hitting $58.52. 1,637,274 shares of the stock were exchanged, compared to its average volume of 717,976. Terreno Realty has a fifty-two week low of $48.18 and a fifty-two week high of $69.82. The stock's 50-day simple moving average is $56.59 and its 200 day simple moving average is $57.96. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 2.49 and a beta of 1.06.

Insider Activity

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total transaction of $539,600.00. Following the transaction, the president owned 412,415 shares of the company's stock, valued at $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 is accessible through this hyperlink. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TRNO. EverSource Wealth Advisors LLC increased its position in shares of Terreno Realty by 73.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 189 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 350 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Terreno Realty by 140.6% in the 2nd quarter. Osaic Holdings Inc. now owns 611 shares of the real estate investment trust's stock worth $35,000 after buying an additional 357 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Terreno Realty by 90.2% during the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 378 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Terreno Realty by 26.5% during the second quarter. CWM LLC now owns 1,171 shares of the real estate investment trust's stock valued at $66,000 after purchasing an additional 245 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.