Terreno Realty (TRNO) Rating Lowered to Hold at Zacks Investment Research

Terreno Realty (NYSE:TRNO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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 firms also recently weighed in on TRNO. BTIG Research reissued a “buy” rating and set a $39.00 price target (up from $35.00) on shares of Terreno Realty in a research note on Wednesday, September 27th. FBR & Co reissued a “neutral” rating and set a $39.00 price target on shares of Terreno Realty in a research note on Tuesday, October 3rd. Jefferies Group reissued a “hold” rating and set a $34.00 price target on shares of Terreno Realty in a research note on Tuesday, October 3rd. Stifel Nicolaus reissued a “buy” rating and set a $41.00 price target (up from $37.00) on shares of Terreno Realty in a research note on Tuesday, November 7th. Finally, B. Riley reissued 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. Terreno Realty currently has an average rating of “Buy” and a consensus target price of $38.40.

Shares of Terreno Realty (TRNO) opened at $34.13 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.87 and a current ratio of 4.87. The firm has a market cap of $1,872.76, a P/E ratio of 44.33, a P/E/G ratio of 2.78 and a beta of 0.79. Terreno Realty has a 12 month low of $26.30 and a 12 month high of $38.54.

Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Terreno Realty by 17.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,374 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 500 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Terreno Realty by 10.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,301 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 398 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Terreno Realty by 67.2% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,180 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 1,680 shares in the last quarter. Federated Investors Inc. PA bought a new stake in Terreno Realty in the second quarter valued at approximately $182,000. Finally, SG Americas Securities LLC bought a new stake in Terreno Realty in the second quarter valued at approximately $198,000. 98.74% of the stock is owned by hedge funds and other institutional investors.

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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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