Terreno Realty (NYSE:TRNO) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $72.00 target price on the real estate investment trust's stock. Zacks Investment Research's price objective points to a potential upside of 12.04% 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. "
Other equities research analysts also recently issued research reports about the company. BTIG Research increased their target price on Terreno Realty from $67.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, April 16th. Jefferies Financial Group raised shares of Terreno Realty from a "hold" rating to a "buy" rating and upped their price target for the stock from $64.00 to $68.00 in a report on Wednesday, January 13th. Finally, Mizuho upped their price target on shares of Terreno Realty from $58.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, April 21st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Terreno Realty currently has an average rating of "Buy" and an average price target of $66.75.
Terreno Realty stock traded up $0.27 during trading on Tuesday, hitting $64.26. The stock had a trading volume of 659 shares, compared to its average volume of 321,834. Terreno Realty has a 1 year low of $44.53 and a 1 year high of $64.82. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.30. The stock's 50 day moving average is $60.45 and its two-hundred day moving average is $58.54. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 54.00 and a beta of 0.54.
Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 10th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.18). The company had revenue of $48.88 million for the quarter, compared to analysts' expectations of $47.73 million. Terreno Realty had a return on equity of 5.20% and a net margin of 44.26%. As a group, equities research analysts anticipate that Terreno Realty will post 1.46 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. Better Money Decisions LLC bought a new position in Terreno Realty in the first quarter valued at $28,000. Meeder Asset Management Inc. increased its stake in Terreno Realty by 308.5% in the first quarter. Meeder Asset Management Inc. now owns 866 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 654 shares during the last quarter. Retirement Group LLC bought a new position in Terreno Realty in the fourth quarter valued at $52,000. DekaBank Deutsche Girozentrale bought a new position in Terreno Realty in the fourth quarter valued at $104,000. Finally, Van ECK Associates Corp increased its stake in Terreno Realty by 23.4% in the third quarter. Van ECK Associates Corp now owns 2,011 shares of the real estate investment trust's stock valued at $110,000 after acquiring an additional 382 shares during the last quarter. 99.86% of the stock is currently owned by institutional investors and hedge funds.
About Terreno Realty
Terreno Realty Corporation and together with its subsidiaries, the ÂCompanyÂ) 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 condensed notes to the consolidated financial statements are unaudited.
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