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

Zacks Investment Research downgraded shares of Terreno Realty (NYSE:TRNO) from a hold rating to a sell rating in a research note released on Friday, 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. “

A number of other research analysts have also weighed in on TRNO. ValuEngine lowered shares of Terreno Realty from a buy rating to a hold rating in a research report on Thursday, August 1st. KeyCorp lifted their price objective on shares of Terreno Realty from $49.00 to $52.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $49.25.

TRNO opened at $54.74 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.96 and a quick ratio of 4.96. The company’s 50-day moving average is $51.92 and its 200 day moving average is $48.66. Terreno Realty has a fifty-two week low of $33.52 and a fifty-two week high of $54.86.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.18). Terreno Realty had a net margin of 36.83% and a return on equity of 4.55%. The firm had revenue of $41.73 million for the quarter, compared to the consensus estimate of $41.53 million. On average, equities research analysts anticipate that Terreno Realty will post 1.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were given a $0.27 dividend. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, October 3rd. This represents a $1.08 annualized dividend and a yield of 1.97%.

A number of hedge funds have recently made changes to their positions in TRNO. Marshall Wace North America L.P. raised its position in Terreno Realty by 50.1% in the first quarter. Marshall Wace North America L.P. now owns 2,318 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 774 shares during the period. First Trust Advisors LP raised its position in Terreno Realty by 460.7% in the first quarter. First Trust Advisors LP now owns 62,196 shares of the real estate investment trust’s stock worth $2,615,000 after acquiring an additional 51,104 shares during the period. Eii Capital Management Inc. raised its position in Terreno Realty by 3.0% in the second quarter. Eii Capital Management Inc. now owns 8,030 shares of the real estate investment trust’s stock worth $394,000 after acquiring an additional 233 shares during the period. Campbell & CO Investment Adviser LLC raised its position in Terreno Realty by 16.3% in the second quarter. Campbell & CO Investment Adviser LLC now owns 17,872 shares of the real estate investment trust’s stock worth $876,000 after acquiring an additional 2,502 shares during the period. Finally, Exane Derivatives raised its position in Terreno Realty by 23,810.5% in the second quarter. Exane Derivatives now owns 4,543 shares of the real estate investment trust’s stock worth $223,000 after acquiring an additional 4,524 shares during the period.

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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