Barclays Issues Pessimistic Forecast for Terreno Realty (NYSE:TRNO) Stock Price

Terreno Realty (NYSE:TRNO) had its price objective lowered by research analysts at Barclays from $60.00 to $57.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target indicates a potential downside of 10.82% from the stock’s current price.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price for the company. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $77.00 in a research note on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a research note on Monday, February 10th. Scotiabank raised their price target on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Friday, February 28th. Finally, Piper Sandler reduced their price target on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Terreno Realty currently has an average rating of “Hold” and a consensus target price of $69.09.

Terreno Realty Price Performance

Shares of TRNO opened at $63.92 on Tuesday. The company has a market capitalization of $6.38 billion, a P/E ratio of 33.29, a P/E/G ratio of 2.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. Terreno Realty has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The business’s 50-day moving average is $66.04 and its two-hundred day moving average is $63.71.

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

Hedge Funds Weigh In On Terreno Realty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Manchester Capital Management LLC acquired a new stake in shares of Terreno Realty in the 4th quarter valued at about $27,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Terreno Realty by 176.1% in the fourth 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. Quarry LP lifted its holdings in Terreno Realty by 613.7% in the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 626 shares during the last quarter. Quadrant Capital Group LLC grew its position in Terreno Realty by 94.6% in the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 370 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Terreno Realty in the 4th quarter worth $71,000.

Terreno Realty Company Profile

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.