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 price target increased by analysts at Barclays from $56.00 to $57.00 in a report released on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price objective would suggest a potential downside of 2.69% from the stock's current price.

Several other research analysts have also commented on TRNO. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. 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 report on Thursday, August 21st. The Goldman Sachs Group set a $64.00 price target on shares of Terreno Realty and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company reduced 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 research report on Wednesday, August 27th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $63.00.

Terreno Realty Stock Performance

Shares of Terreno Realty stock opened at $58.58 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. Terreno Realty has a 1 year low of $48.18 and a 1 year high of $70.10. The firm's 50-day simple moving average is $56.46 and its 200-day simple moving average is $58.22. The firm has a market cap of $6.05 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06.

Insiders Place Their Bets

In related news, President Michael A. Coke sold 10,000 shares of Terreno Realty stock in a transaction dated Thursday, August 14th. The shares were 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 $22,253,913.40. This trade represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Terreno Realty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its position in shares of Terreno Realty by 73.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust's stock worth $25,000 after buying an additional 189 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock worth $29,000 after buying an additional 350 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of 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 buying an additional 357 shares in the last quarter. Jones Financial Companies Lllp raised its position 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 worth $50,000 after buying an additional 378 shares in the last quarter. Finally, CWM LLC raised its position in shares of Terreno Realty by 26.5% during the 2nd quarter. CWM LLC now owns 1,171 shares of the real estate investment trust's stock worth $66,000 after buying an additional 245 shares in 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.

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