Terreno Realty (NYSE:TRNO) Lowered to “Hold” at Zacks Investment Research


Share on StockTwits

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. “

Separately, Jefferies Financial Group raised Terreno Realty from a “hold” rating to a “buy” rating and boosted their target price for the stock from $64.00 to $68.00 in a research report on Wednesday, January 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $66.29.

TRNO opened at $61.59 on Thursday. The stock has a 50-day moving average price of $57.96 and a 200-day moving average price of $58.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.32 and a quick ratio of 5.32. The firm has a market cap of $4.24 billion, a PE ratio of 51.76 and a beta of 0.54. Terreno Realty has a 1 year low of $44.53 and a 1 year high of $64.24.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 10th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.18). Terreno Realty had a return on equity of 5.20% and a net margin of 44.26%. The business had revenue of $48.88 million during the quarter, compared to analysts’ expectations of $47.73 million. As a group, sell-side analysts anticipate that Terreno Realty will post 1.46 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp increased its holdings in Terreno Realty by 2.6% in the 3rd quarter. Truist Financial Corp now owns 7,064 shares of the real estate investment trust’s stock worth $387,000 after acquiring an additional 177 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Terreno Realty by 23.4% during the 3rd 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. California State Teachers Retirement System lifted its position in Terreno Realty by 0.6% in the third quarter. California State Teachers Retirement System now owns 100,860 shares of the real estate investment trust’s stock worth $5,523,000 after buying an additional 563 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Terreno Realty by 1.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 63,003 shares of the real estate investment trust’s stock worth $3,687,000 after purchasing an additional 729 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Terreno Realty by 3.6% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,674 shares of the real estate investment trust’s stock worth $1,327,000 after purchasing an additional 784 shares during the last quarter. 99.86% of the stock is owned by institutional investors.

Terreno Realty Company Profile

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.

Featured Story: The components of the Stochastic Momentum Index

Get a free copy of the Zacks research report on Terreno Realty (TRNO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Terreno Realty (NYSE:TRNO)

Receive News & Ratings for Terreno Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terreno Realty and related companies with MarketBeat.com's FREE daily email newsletter.