Zacks Investment Research upgraded shares of Terreno Realty (NYSE:TRNO) from a hold rating to a buy rating in a research note released on Tuesday morning. The firm currently has $42.00 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. “

TRNO has been the subject of a number of other reports. JMP Securities restated a hold rating on shares of Terreno Realty in a report on Tuesday, October 16th. Mizuho assumed coverage on shares of Terreno Realty in a report on Wednesday, October 3rd. They set a neutral rating for the company. ValuEngine cut shares of Terreno Realty from a buy rating to a hold rating in a report on Wednesday, September 19th. Finally, KeyCorp upped their price target on shares of Terreno Realty from $39.00 to $40.00 and gave the company a buy rating in a report on Friday, August 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $39.50.

TRNO stock opened at $38.98 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.16 and a quick ratio of 0.16. Terreno Realty has a 52-week low of $31.56 and a 52-week high of $39.39. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 3.01 and a beta of 0.69.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. Terreno Realty had a net margin of 34.83% and a return on equity of 4.68%. The company had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $37.68 million. As a group, equities analysts anticipate that Terreno Realty will post 1.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Tuesday, December 18th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Monday, December 17th. Terreno Realty’s dividend payout ratio is currently 88.07%.

Several institutional investors and hedge funds have recently made changes to their positions in TRNO. NumerixS Investment Technologies Inc raised its position in shares of Terreno Realty by 133.3% during the second quarter. NumerixS Investment Technologies Inc now owns 3,500 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 2,000 shares during the last quarter. Eii Capital Management Inc. acquired a new position in shares of Terreno Realty during the second quarter valued at about $188,000. Paloma Partners Management Co acquired a new position in shares of Terreno Realty during the second quarter valued at about $227,000. Orinda Asset Management LLC acquired a new position in shares of Terreno Realty during the second quarter valued at about $245,000. Finally, First Quadrant L P CA acquired a new position in shares of Terreno Realty during the third quarter valued at about $247,000. 97.51% of the stock is owned by institutional investors and hedge funds.

About Terreno Realty

Terreno Realty Corporation 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

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