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

Key Points

• Citigroup raised Terreno Realty’s price target from $70 to $73 while maintaining a neutral rating, implying 6.83% upside from the previous close. Overall, analysts rate the stock “Moderate Buy,” with a consensus target of $71.93.
• Terreno Realty shares opened at $68.33, down 0.6%, with a market capitalization of $7.45 billion and a 52-week range of $53.00 to $78.94.
• The REIT’s latest quarterly earnings beat expectations, reporting $0.54 in EPS versus the $0.41 consensus estimate, although revenue of $124.71 million fell short of forecasts.

Terreno Realty (NYSE:TRNO - Get Free Report) had its price objective lifted by analysts at Citigroup from $70.00 to $73.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Citigroup's price objective points to a potential upside of 6.83% from the company's previous close.

A number of other brokerages also recently weighed in on TRNO. Piper Sandler upped their price objective on shares of Terreno Realty from $79.00 to $91.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Robert W. Baird set a $69.00 price target on Terreno Realty in a research note on Friday, May 8th. Scotiabank lowered their price target on Terreno Realty from $70.00 to $68.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 18th. The Goldman Sachs Group raised their price objective on Terreno Realty from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, July 24th. Finally, KeyCorp reiterated an "overweight" rating on shares of Terreno Realty in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $71.93.

Terreno Realty Stock Down 0.6%

Shares of TRNO opened at $68.33 on Monday. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 18.48 and a beta of 1.03. Terreno Realty has a 52 week low of $53.00 and a 52 week high of $78.94. The stock's 50-day moving average price is $68.33 and its 200-day moving average price is $65.74. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The firm had revenue of $124.71 million during the quarter, compared to analyst estimates of $127.15 million. On average, sell-side analysts predict that Terreno Realty will post 2.82 EPS for the current year.

Institutional Trading of Terreno Realty

A number of institutional investors have recently made changes to their positions in TRNO. EverSource Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 189 shares in the last quarter. Wiser Advisor Group LLC purchased a new position in shares of Terreno Realty in the third quarter worth about $25,000. Clearstead Trust LLC purchased a new stake in Terreno Realty during the 2nd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd lifted its stake in Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 172 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings 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 purchasing an additional 350 shares during the last quarter.

About Terreno Realty

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

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