Terreno Realty (NYSE:TRNO) Now Covered by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald upgraded Terreno Realty (NYSE:TRNO) to a strong-buy rating, setting a price target of $70.00, indicating a potential upside of 22.62% from its current share price.
• Other analysts have mixed ratings for Terreno Realty, with an average rating of "Moderate Buy" and an average price target of $63.70.
• Insider transactions revealed that President Michael A. Coke sold 10,000 shares at an average price of $53.96, reducing his ownership by 2.37%.

Research analysts at Cantor Fitzgerald initiated coverage on shares of Terreno Realty (NYSE:TRNO - Get Free Report) in a report issued on Wednesday, Marketbeat reports. The brokerage set an "overweight" rating and a $70.00 price target on the real estate investment trust's stock. Cantor Fitzgerald's price objective suggests a potential upside of 23.14% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Barclays lifted their price objective on shares of Terreno Realty from $56.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday, September 15th. Wells Fargo & Company cut their price objective on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Piper Sandler lifted their price objective on shares of Terreno Realty from $58.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. KeyCorp cut 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. Finally, The Goldman Sachs Group set a $64.00 price objective on shares of Terreno Realty and gave the company a "buy" rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.70.

Terreno Realty Stock Down 1.4%

Shares of NYSE:TRNO traded down $0.83 during midday trading on Wednesday, reaching $56.85. The company had a trading volume of 52,187 shares, compared to its average volume of 888,224. The stock has a market capitalization of $5.87 billion, a P/E ratio of 22.58, a PEG ratio of 2.42 and a beta of 1.04. The stock's fifty day moving average price is $56.66 and its 200-day moving average price is $57.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. Terreno Realty has a one year low of $48.18 and a one year high of $69.20.

Insider Activity at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the business'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 completion of the sale, the president owned 412,415 shares of the company's stock, valued at approximately $22,253,913.40. The trade was a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Terreno Realty

Several hedge funds have recently modified their holdings of the business. State Street Corp boosted its position in shares of Terreno Realty by 4.0% in the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust's stock valued at $336,139,000 after acquiring an additional 230,444 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Terreno Realty by 2.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust's stock valued at $333,261,000 after acquiring an additional 125,940 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Terreno Realty by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust's stock worth $262,918,000 after purchasing an additional 523,950 shares during the period. Norges Bank bought a new position in Terreno Realty in the second quarter worth $156,525,000. Finally, Geode Capital Management LLC lifted its position in Terreno Realty by 3.6% in the second quarter. Geode Capital Management LLC now owns 2,631,838 shares of the real estate investment trust's stock worth $147,584,000 after purchasing an additional 92,519 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.