Terreno Realty (NYSE:TRNO - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Friday.
Several other equities analysts have also recently weighed in on TRNO. The Goldman Sachs Group raised their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the company a "neutral" rating in a research note on Monday, August 12th. JMP Securities boosted their price objective 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. Wolfe Research upgraded shares of Terreno Realty to a "hold" rating in a research note on Sunday, September 22nd. Wedbush reaffirmed a "neutral" rating and issued a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Finally, Wells Fargo & Company downgraded Terreno Realty from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $71.00 to $75.00 in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Terreno Realty has an average rating of "Hold" and a consensus target price of $69.56.
View Our Latest Research Report on TRNO
TRNO traded up $0.72 during trading on Friday, hitting $63.30. The company had a trading volume of 854,209 shares, compared to its average volume of 704,558. The firm's 50-day moving average price is $67.71 and its 200 day moving average price is $62.57. Terreno Realty has a one year low of $50.42 and a one year high of $71.63. The company has a market capitalization of $6.13 billion, a PE ratio of 34.97, a PEG ratio of 2.91 and a beta of 0.90. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24.
Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). The business had revenue of $94.25 million for the quarter, compared to the consensus estimate of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. As a group, equities analysts expect that Terreno Realty will post 2.42 earnings per share for the current year.
In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the business's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the transaction, the executive vice president now directly owns 110,988 shares in the company, valued at $7,618,216.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the firm's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,643 shares of company stock worth $1,277,581 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its position in Terreno Realty by 20.2% in the third quarter. Creative Planning now owns 5,765 shares of the real estate investment trust's stock valued at $385,000 after purchasing an additional 968 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Terreno Realty by 1.1% in the third quarter. Handelsbanken Fonder AB now owns 27,830 shares of the real estate investment trust's stock valued at $1,860,000 after buying an additional 300 shares during the period. SG Americas Securities LLC raised its holdings in Terreno Realty by 368.3% in the 3rd quarter. SG Americas Securities LLC now owns 13,927 shares of the real estate investment trust's stock valued at $931,000 after buying an additional 10,953 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Terreno Realty in the 2nd quarter valued at approximately $1,147,000. Finally, Algert Global LLC acquired a new position in Terreno Realty in the 2nd quarter valued at approximately $573,000.
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.
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