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

Zacks Investment Research upgraded shares of Terreno Realty (NYSE:TRNO) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. The brokerage currently has $88.00 price target on the real estate investment trust’s stock.

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 firms also recently weighed in on TRNO. BTIG Research increased their price target on Terreno Realty from $70.00 to $94.00 and gave the company a buy rating in a research note on Thursday, December 23rd. Robert W. Baird downgraded Terreno Realty from an outperform rating to a neutral rating and dropped their price objective for the stock from $80.00 to $79.00 in a research note on Tuesday. Finally, KeyCorp raised their price objective on Terreno Realty from $71.00 to $86.00 and gave the stock an overweight rating in a research note on Friday, November 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $81.29.

TRNO stock opened at $77.70 on Tuesday. The business’s fifty day moving average is $79.06 and its 200-day moving average is $71.46. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.35. The company has a market cap of $5.54 billion, a P/E ratio of 79.29 and a beta of 0.62. Terreno Realty has a twelve month low of $53.97 and a twelve month high of $86.00.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 5th. Shareholders of record on Wednesday, December 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Tuesday, December 14th. Terreno Realty’s dividend payout ratio (DPR) is presently 138.78%.

A number of hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new position in Terreno Realty during the 4th quarter worth about $107,000. State of Alaska Department of Revenue grew its holdings in shares of Terreno Realty by 4.8% in the 4th quarter. State of Alaska Department of Revenue now owns 37,474 shares of the real estate investment trust’s stock valued at $3,196,000 after acquiring an additional 1,724 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Terreno Realty by 2.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 96,662 shares of the real estate investment trust’s stock valued at $6,112,000 after acquiring an additional 2,657 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Terreno Realty by 2.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 372,431 shares of the real estate investment trust’s stock valued at $23,549,000 after acquiring an additional 8,743 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in shares of Terreno Realty in the 3rd quarter valued at about $108,000. Hedge funds and other institutional investors own 93.54% 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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