Wolfe Research Upgrades Terreno Realty (NYSE:TRNO) to “Hold”

Terreno Realty (NYSE:TRNO) was upgraded by equities research analysts at Wolfe Research to a “hold” rating in a report released on Sunday, Zacks.com reports.

A number of other research firms have also weighed in on TRNO. The Goldman Sachs Group upped their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. BNP Paribas began coverage on shares of Terreno Realty in a research note on Tuesday, June 4th. They set an “outperform” rating and a $68.00 target price on the stock. JMP Securities upped their target price on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 13th. Scotiabank upped their target price on shares of Terreno Realty from $59.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.56.

Terreno Realty Trading Down 0.7 %

NYSE TRNO opened at $68.75 on Friday. The firm’s 50-day moving average is $68.28 and its two-hundred day moving average is $62.41. Terreno Realty has a 12 month low of $50.42 and a 12 month high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The stock has a market capitalization of $6.66 billion, a P/E ratio of 35.81, a PEG ratio of 3.18 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The business had revenue of $94.25 million for the quarter, compared to analysts’ expectations of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. On average, sell-side analysts anticipate that Terreno Realty will post 2.42 earnings per share for the current year.

Insider Activity

In related news, President Michael A. Coke sold 7,500 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.53, for a total transaction of $513,975.00. Following the completion of the sale, the president now directly owns 402,164 shares of the company’s stock, valued at $27,560,298.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the completion of the sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Michael A. Coke sold 7,500 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.53, for a total value of $513,975.00. Following the completion of the sale, the president now directly owns 402,164 shares of the company’s stock, valued at approximately $27,560,298.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,643 shares of company stock valued at $1,277,581. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terreno Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of TRNO. Janney Montgomery Scott LLC lifted its holdings in Terreno Realty by 15.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,817 shares of the real estate investment trust’s stock valued at $490,000 after acquiring an additional 1,023 shares during the period. Norges Bank acquired a new stake in Terreno Realty in the fourth quarter valued at $54,302,000. UBS Group AG increased its position in shares of Terreno Realty by 27.4% in the fourth quarter. UBS Group AG now owns 127,707 shares of the real estate investment trust’s stock valued at $8,003,000 after buying an additional 27,469 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Terreno Realty by 2.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 94,480 shares of the real estate investment trust’s stock valued at $5,921,000 after buying an additional 1,940 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Terreno Realty by 412.0% in the fourth quarter. Hsbc Holdings PLC now owns 205,287 shares of the real estate investment trust’s stock valued at $12,874,000 after buying an additional 165,194 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.