Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Terreno Realty Corporation shares valued at $233,960 were sold by CARLSON LEROY E on Dec 02. At $58.49 per share, CARLSON LEROY E sold 4,000 shares. The insider’s holdings dropped to 37,791 shares worth approximately $2.43 million following the completion of this transaction.
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Also, PASQUALE DOUGLAS M purchased 1,000 shares, netting a total of over 64,000 in proceeds. Following the buying of shares at $64.00 each, the insider now holds 105,518 shares.
Before that, PASQUALE DOUGLAS M had added 1,000 shares to its account. In a trade valued at $64,490, the Director bought Terreno Realty Corporation shares for $64.49 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $6.72 million.
As published in a research note from Scotiabank on October 17, 2022, Terreno Realty Corporation [TRNO] has been rated down from a Sector outperform to a Sector perform and the price target has been revised to $54 from $73. This represents a -19.02% premium over Thursday’s closing price. Analysts at Stifel started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of May 18, 2022, JMP Securities has initiated its “Mkt outperform” rating for TRNO. Earlier on January 11, 2022, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for TRNO stock which previously was a “an Outperform”.
Analyzing TRNO Stock Performance
On Thursday, Terreno Realty Corporation [NYSE: TRNO] rose 1.36% to $64.27. The stock’s lowest price that day was $63.18, but it reached a high of $64.31 in the same session. During the last five days, there has been a drop of approximately -0.22%. Over the course of the year, Terreno Realty Corporation shares have jumped approximately 13.01%. Shares of the company reached a 52-week high of $67.03 on 02/02/23 and a 52-week low of $56.26 on 01/03/23. A 50-day SMA is recorded $61.18, while a 200-day SMA reached $59.30. Nevertheless, trading volume fell to 0.5 million shares from 0.48 million shares the previous day.
Support And Resistance Levels for Terreno Realty Corporation (TRNO)
According to the 24-hour chart, there is a support level at 63.53, which, if violated, would cause prices to drop to 62.79. In the upper region, resistance lies at 64.66. The next price resistance is at 65.05. RSI (Relative Strength Index) is 56.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.63, which suggests the price will decrease in the coming days. Percent R is at 51.92%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Terreno Realty Corporation subject to short interest?
Stocks of Terreno Realty Corporation saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.7 million shares to 2.25 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 1.55 million shares. A jump of 31.11% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.04 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.04.
Which companies own the most shares of Terreno Realty Corporation (TRNO)?
According to The Vanguard Group, Inc. filings, the company currently owns 10,387,576 shares, which is about 13.66% of the total TRNO shares outstanding. The investor’s shares have appreciated by 113,057 from its previous 13-F filing of 10274519.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $372,069,849. Principal Global Investors LLC reduced a -12.96% interest valued at $316.09 million while T. Rowe Price Investment Manageme purchased a 217,579 stake. A total of 31,748 shares of Terreno Realty Corporation were bought by Principal Real Estate Investors L during the quarter, and 56,701 were bought by SSgA Funds Management, Inc. In its current portfolio, Fidelity Management & Research Co holds 3,399,271 shares valued at $219.02 million.
In terms of Terreno Realty Corporation share price expectations, FactSet research, analysts set an average price target of $69.64 in the next 12 months, up nearly 11.97% from the previous closing price of $63.41. Analysts anticipate Terreno Realty Corporation stock to reach $80.00 by 2023, with the lowest price target being $57.00. In spite of this, 12 analysts ranked Terreno Realty Corporation stock as an Overweight at the end of 2023. On July 14, 2021, Mizuho assigned a price target of “a Neutral” to the stock and resumed coverage with a $65.