Terreno Realty (NYSE:TRNO) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Terreno Realty (NYSE:TRNO) has received a "hold" rating from Weiss Ratings, indicating a cautious outlook on the stock.
• Research firms have recently adjusted their target prices for Terreno Realty, with KeyCorp lowering its target from $70.00 to $64.00, while Goldman Sachs maintains a target of $64.00 with a "buy" rating.
• Terreno Realty's stock has shown minimal fluctuation, trading down just 0.1% to $58.32 recently, with a market capitalization of approximately $6.02 billion.

Terreno Realty (NYSE:TRNO - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other research firms also recently weighed in on TRNO. KeyCorp dropped their target price on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, August 21st. The Goldman Sachs Group set a $64.00 target price on shares of Terreno Realty and gave the stock a "buy" rating in a report on Tuesday, August 12th. Barclays boosted their target price on shares of Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a report on Monday, September 15th. Piper Sandler upped their target price on shares of Terreno Realty from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, September 18th. Finally, Cantor Fitzgerald started coverage on shares of Terreno Realty in a research report on Wednesday, October 1st. They set an "overweight" rating and a $70.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Terreno Realty presently has a consensus rating of "Hold" and an average price target of $63.70.

Terreno Realty Stock Down 0.1%

NYSE TRNO traded down $0.05 during trading on Wednesday, reaching $58.32. 498,850 shares of the company's stock traded hands, compared to its average volume of 882,392. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 2.49 and a beta of 1.04. The company's 50 day simple moving average is $56.77 and its two-hundred day simple moving average is $57.22. Terreno Realty has a 12-month low of $48.18 and a 12-month high of $69.20.

Insider Activity

In other news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the transaction, the president directly owned 412,415 shares of the company's stock, valued at $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Terreno Realty

Several large investors have recently added to or reduced their stakes in TRNO. Corient Private Wealth LLC raised its stake in Terreno Realty by 2.0% during the second quarter. Corient Private Wealth LLC now owns 22,576 shares of the real estate investment trust's stock worth $1,266,000 after purchasing an additional 448 shares during the period. Texas Permanent School Fund Corp increased its position in Terreno Realty by 3.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 40,792 shares of the real estate investment trust's stock worth $2,287,000 after purchasing an additional 1,308 shares in the last quarter. Osaic Holdings Inc. increased its position in Terreno Realty by 140.6% during the 2nd quarter. Osaic Holdings Inc. now owns 611 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 357 shares in the last quarter. Squarepoint Ops LLC increased its position in Terreno Realty by 50.1% during the 2nd quarter. Squarepoint Ops LLC now owns 32,815 shares of the real estate investment trust's stock worth $1,840,000 after purchasing an additional 10,953 shares in the last quarter. Finally, Hudson Bay Capital Management LP boosted its holdings in Terreno Realty by 359.3% in the 2nd quarter. Hudson Bay Capital Management LP now owns 390,919 shares of the real estate investment trust's stock worth $21,919,000 after acquiring an additional 305,806 shares during the period.

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.

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