Terreno Realty (NYSE:TRNO) Upgraded to “Buy” at Zacks Investment Research

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 Friday, Zacks.com reports. The firm currently has a $87.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s target price suggests a potential upside of 10.97% from the stock’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. “

Several other research analysts have also recently issued reports on the stock. KeyCorp increased their price target on shares of Terreno Realty from $71.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, November 5th. Compass Point increased their price target on shares of Terreno Realty from $69.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, August 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Terreno Realty currently has a consensus rating of “Buy” and an average price target of $74.57.

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Shares of TRNO opened at $78.40 on Friday. Terreno Realty has a fifty-two week low of $53.97 and a fifty-two week high of $78.44. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 80.00 and a beta of 0.61. The firm has a 50-day simple moving average of $70.55 and a 200-day simple moving average of $67.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.70 and a current ratio of 1.70.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, November 3rd. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.14). Terreno Realty had a return on equity of 4.11% and a net margin of 32.60%. The business had revenue of $57.27 million for the quarter, compared to analyst estimates of $54.92 million. Equities research analysts forecast that Terreno Realty will post 1.72 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlantic Trust LLC acquired a new stake in Terreno Realty during the second quarter worth approximately $27,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Terreno Realty in the 2nd quarter valued at $27,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Terreno Realty in the 3rd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Terreno Realty by 485.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 388 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Terreno Realty by 74.5% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 642 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Terreno Realty Company Profile

Terreno Realty Corp. operates as a real estate company, which acquires, owns, and manages industrial properties. It invests in several types of industrial real estate, including warehouse/distribution, flex, research and development, and trans-shipment. The company was founded by Michael A. Coke and W.

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Analyst Recommendations for Terreno Realty (NYSE:TRNO)

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