Terreno Realty (NYSE:TRNO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $61.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.49% from the company’s current price.
According to Zacks, “Terreno Realty Corporation is an internally managed real estate investment trust (REIT) focused on acquiring industrial real estate located in major coastal U.S. markets. The Company’s main focus is on markets in Los Angeles Area; Northern New Jersey/New York City; San Francisco Bay Area; Seattle Area; Miami Area; and Washington, D.C./Baltimore. Terreno Realty Corporation focuses on investing in several types of industrial real estate, including warehouse/distribution, flex (including light manufacturing, and research and development) and trans-shipment. The Company will target functional buildings in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets, in which it operates. The Company will utilize local third-party property managers for day-to-day property management. Terreno Realty Corporationy will make all operating and leasing decisions on its properties. “
A number of other research analysts have also commented on the stock. KeyCorp boosted their price target on shares of Terreno Realty from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. BTIG Research boosted their price target on shares of Terreno Realty from to and gave the company a “buy” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $55.40.
Shares of TRNO traded down $0.45 during mid-day trading on Tuesday, reaching $55.21. 3,272 shares of the stock traded hands, compared to its average volume of 318,315. The firm has a fifty day moving average price of $55.01 and a 200 day moving average price of $52.41. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.30. Terreno Realty has a 1 year low of $36.88 and a 1 year high of $58.21.
Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $43.40 million during the quarter, compared to analyst estimates of $42.79 million. Terreno Realty had a net margin of 38.43% and a return on equity of 4.60%. Equities research analysts expect that Terreno Realty will post 1.4 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Terreno Realty during the 2nd quarter worth $49,000. Evoke Wealth LLC bought a new stake in Terreno Realty in the third quarter worth $92,000. Quantum Capital Management bought a new stake in Terreno Realty in the third quarter worth $143,000. Ninepoint Partners LP bought a new stake in Terreno Realty in the third quarter worth $180,000. Finally, Assetmark Inc. lifted its stake in Terreno Realty by 8.9% in the second quarter. Assetmark Inc. now owns 4,045 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 330 shares during the last quarter. 99.21% of the stock is owned by institutional investors.
Terreno Realty Company Profile
Terreno Realty Corporation 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
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