Terreno Realty (NYSE:TRNO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm currently has a $51.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.73% from the stock’s current price.
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 have also commented on TRNO. Mitsubishi UFJ Financial Group raised their target price on shares of Terreno Realty to $45.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. KeyCorp set a $49.00 target price on shares of Terreno Realty and gave the stock an “in-line” rating in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $48.33.
Shares of NYSE:TRNO opened at $45.24 on Tuesday. The company has a market cap of $2.85 billion, a PE ratio of 39.96, a P/E/G ratio of 3.78 and a beta of 0.84. Terreno Realty has a one year low of $33.52 and a one year high of $47.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 2.41.
A number of hedge funds have recently modified their holdings of the stock. Morgan Stanley increased its holdings in Terreno Realty by 5.4% during the first quarter. Morgan Stanley now owns 147,404 shares of the real estate investment trust’s stock valued at $6,197,000 after buying an additional 7,510 shares during the period. SEI Investments Co increased its holdings in Terreno Realty by 203.8% during the first quarter. SEI Investments Co now owns 44,419 shares of the real estate investment trust’s stock valued at $1,867,000 after buying an additional 29,796 shares during the period. Goldman Sachs Group Inc. increased its holdings in Terreno Realty by 33.2% during the first quarter. Goldman Sachs Group Inc. now owns 606,662 shares of the real estate investment trust’s stock valued at $25,504,000 after buying an additional 151,181 shares during the period. Oxford Asset Management LLP purchased a new position in Terreno Realty during the first quarter valued at approximately $1,936,000. Finally, Heitman Real Estate Securities LLC increased its holdings in Terreno Realty by 10.9% during the first quarter. Heitman Real Estate Securities LLC now owns 676,536 shares of the real estate investment trust’s stock valued at $28,442,000 after buying an additional 66,360 shares during the period. 98.40% of the stock is currently owned by institutional investors.
Terreno Realty Company Profile
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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