Terreno Realty (TRNO) Upgraded at 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. The firm currently has $38.00 price objective 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. “
TRNO has been the topic of a number of other research reports. National Securities upgraded Terreno Realty from a neutral rating to a buy rating and set a $45.00 price target on the stock in a research note on Wednesday, November 22nd. BidaskClub cut Terreno Realty from a strong-buy rating to a buy rating in a research note on Monday, October 23rd. Robert W. Baird restated a hold rating and issued a $35.00 price target on shares of Terreno Realty in a research note on Tuesday, January 9th. KeyCorp restated a buy rating and issued a $39.00 price target on shares of Terreno Realty in a research note on Sunday, November 5th. Finally, B. Riley restated a neutral rating on shares of Terreno Realty in a research note on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $38.40.
Terreno Realty (TRNO) traded down $0.20 on Thursday, reaching $34.13. The company had a trading volume of 275,148 shares, compared to its average volume of 320,851. Terreno Realty has a twelve month low of $26.30 and a twelve month high of $38.54. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.47. The company has a market cap of $1,861.86, a PE ratio of 33.14, a PEG ratio of 2.77 and a beta of 0.79.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.58%. The ex-dividend date was Thursday, December 28th. Terreno Realty’s payout ratio is 114.29%.
Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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. Bronfman E.L. Rothschild L.P. increased its position 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. Ameritas Investment Partners Inc. increased its position 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. Federated Investors Inc. PA bought a new position in Terreno Realty during the 2nd quarter worth $182,000. Finally, Cavalier Investments LLC bought a new position in Terreno Realty during the 3rd quarter worth $206,000. Hedge funds and other institutional investors own 98.74% of the company’s stock.
About Terreno Realty
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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