Terreno Realty (NYSE:TRNO) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays has raised its price target for Terreno Realty (NYSE: TRNO) from $56.00 to $57.00, maintaining an "equal weight" rating despite suggesting a potential downside of 2.69% from the current stock price.
• The stock has received mixed ratings, with three analysts rating it as a "buy" and seven giving it a "hold", leading to a consensus rating of "hold" with an average target price of $63.00.
• Terreno Realty's President, Michael A. Coke, sold 10,000 shares at an average price of $53.96, reducing his position by 2.37% and leaving him with 412,415 shares valued at approximately $22 million.

Terreno Realty (NYSE:TRNO - Get Free Report) had its target price upped by Barclays from $56.00 to $57.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Barclays's target price suggests a potential downside of 2.30% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company lowered their price target on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. 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, KeyCorp decreased their target price on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $63.00.

Terreno Realty Trading Down 0.5%

Shares of Terreno Realty stock traded down $0.27 during trading on Monday, reaching $58.34. The company's stock had a trading volume of 539,033 shares, compared to its average volume of 899,514. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20. Terreno Realty has a 52-week low of $48.18 and a 52-week high of $69.82. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 2.46 and a beta of 1.06. The firm's 50-day moving average is $56.58 and its two-hundred day moving average is $58.09.

Insider Transactions at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the president directly owned 412,415 shares in the company, valued at approximately $22,253,913.40. This represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Terreno Realty

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 189 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Terreno Realty by 15.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 193 shares during the period. Norinchukin Bank The grew its stake in shares of Terreno Realty by 4.5% in the 1st quarter. Norinchukin Bank The now owns 4,606 shares of the real estate investment trust's stock worth $291,000 after buying an additional 197 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Terreno Realty by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust's stock worth $1,448,000 after acquiring an additional 200 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT raised its holdings in shares of Terreno Realty by 2.2% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 9,297 shares of the real estate investment trust's stock valued at $588,000 after purchasing an additional 200 shares in the last quarter.

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.