JMP Securities Reaffirms Market Outperform Rating for Terreno Realty (NYSE:TRNO)

Terreno Realty (NYSE:TRNO)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research note issued to investors on Monday,Benzinga reports. They currently have a $72.00 target price on the real estate investment trust’s stock. JMP Securities’ price objective suggests a potential upside of 7.66% from the stock’s current price.

A number of other brokerages have also issued reports on TRNO. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target for the company. Scotiabank decreased their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research note on Friday, October 25th. Barclays restated an “equal weight” rating and set a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Piper Sandler decreased their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, BMO Capital Markets assumed coverage on Terreno Realty in a research report on Tuesday, February 4th. They set a “market perform” rating and a $71.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Terreno Realty presently has an average rating of “Hold” and an average price target of $68.27.

Terreno Realty Stock Performance

Shares of TRNO opened at $66.88 on Monday. The company has a 50-day moving average of $61.68 and a two-hundred day moving average of $64.05. The stock has a market cap of $6.67 billion, a P/E ratio of 34.83, a PEG ratio of 2.85 and a beta of 0.91. Terreno Realty has a 12-month low of $53.78 and a 12-month high of $71.63. The company has a current ratio of 0.23, a quick ratio of 2.71 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, research analysts predict that Terreno Realty will post 2.64 EPS for the current fiscal year.

Institutional Trading of Terreno Realty

Several institutional investors and hedge funds have recently made changes to their positions in TRNO. V Square Quantitative Management LLC bought a new position in Terreno Realty during the third quarter worth about $26,000. Assetmark Inc. grew its holdings in Terreno Realty by 2,381.3% during the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 381 shares during the period. Manchester Capital Management LLC acquired a new stake in Terreno Realty in the fourth quarter worth $27,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Terreno Realty by 176.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 361 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Terreno Realty by 6,580.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 987 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.