Terreno Realty (TRNO) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Terreno Realty (NYSE:TRNO) from a hold rating to a buy rating in a research note released on Thursday. Zacks Investment Research currently has $38.00 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 equities analysts also recently commented on TRNO. Robert W. Baird reissued a hold rating and issued a $35.00 target price on shares of Terreno Realty in a research note on Tuesday, January 9th. BTIG Research reissued a buy rating and issued a $39.00 target price (up previously from $35.00) on shares of Terreno Realty in a research note on Wednesday, September 27th. FBR & Co reissued a neutral rating and issued a $39.00 target price on shares of Terreno Realty in a research note on Tuesday, October 3rd. Jefferies Group reissued a hold rating and issued a $34.00 target price on shares of Terreno Realty in a research note on Tuesday, October 3rd. Finally, BidaskClub downgraded shares of Terreno Realty from a strong-buy rating to a buy rating in a research note on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Terreno Realty currently has a consensus rating of Buy and a consensus price target of $38.40.
Terreno Realty (NYSE TRNO) opened at $34.13 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.87 and a current ratio of 4.87. The firm has a market cap of $1,861.86, a P/E ratio of 44.33, a price-to-earnings-growth ratio of 2.77 and a beta of 0.79. Terreno Realty has a one year low of $26.30 and a one year high of $38.54.
Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.10. Terreno Realty had a net margin of 33.00% and a return on equity of 4.83%. equities analysts expect that Terreno Realty will post 1.1 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, December 28th. Terreno Realty’s dividend payout ratio (DPR) is 114.29%.
A number of institutional investors have recently added to or reduced their stakes in TRNO. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Terreno Realty by 17.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,374 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 500 shares during the period. Ameritas Investment Partners Inc. increased its stake in Terreno Realty by 10.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,301 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 398 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Terreno Realty by 67.2% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,180 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 1,680 shares during the period. Federated Investors Inc. PA purchased a new stake in Terreno Realty during the 2nd quarter worth $182,000. Finally, SG Americas Securities LLC purchased a new stake in Terreno Realty during the 2nd quarter worth $198,000. 98.74% of the stock is currently owned by hedge funds and other institutional investors.
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Terreno Realty Company Profile
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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