Terreno Realty (NYSE:TRNO) Stock Rating Lowered by Zacks Investment Research

Terreno Realty (NYSE:TRNO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

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 brokerages have also commented on TRNO. KeyCorp increased their price objective on shares of Terreno Realty from $71.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, November 5th. BTIG Research raised their price target on shares of Terreno Realty from $70.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, December 23rd. Finally, Robert W. Baird lowered shares of Terreno Realty from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $80.00 to $79.00 in a research report on Tuesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Terreno Realty currently has a consensus rating of “Hold” and an average price target of $81.29.

TRNO stock opened at $77.70 on Thursday. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 79.29 and a beta of 0.62. The firm has a 50-day simple moving average of $79.06 and a two-hundred day simple moving average of $71.46. Terreno Realty has a one year low of $53.97 and a one year high of $86.00. 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 released its quarterly earnings results on Wednesday, November 3rd. The real estate investment trust reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.14). The firm had revenue of $57.27 million for the quarter, compared to analysts’ expectations of $54.92 million. Terreno Realty had a net margin of 32.60% and a return on equity of 4.11%. As a group, equities analysts predict that Terreno Realty will post 1.72 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in TRNO. FMR LLC grew its stake in Terreno Realty by 29.7% in the 2nd quarter. FMR LLC now owns 3,754,171 shares of the real estate investment trust’s stock valued at $242,218,000 after acquiring an additional 859,263 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Terreno Realty by 429.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 522,400 shares of the real estate investment trust’s stock valued at $33,031,000 after acquiring an additional 423,683 shares during the period. Balyasny Asset Management LLC acquired a new stake in Terreno Realty in the 3rd quarter valued at $19,818,000. Millennium Management LLC grew its stake in Terreno Realty by 129.2% in the 3rd quarter. Millennium Management LLC now owns 369,315 shares of the real estate investment trust’s stock valued at $23,352,000 after acquiring an additional 208,160 shares during the period. Finally, Geode Capital Management LLC grew its stake in Terreno Realty by 11.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,479,507 shares of the real estate investment trust’s stock valued at $95,457,000 after acquiring an additional 157,861 shares during the period. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

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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