Zacks Investment Research Downgrades Terreno Realty (NYSE:TRNO) to Hold

Zacks Investment Research downgraded shares of Terreno Realty (NYSE:TRNO) from a buy rating to a hold rating in a research report released on Thursday morning, 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. “

Several other equities analysts also recently commented on the stock. BTIG Research boosted their target price on shares of Terreno Realty from $70.00 to $94.00 and gave the stock a buy rating in a report on Thursday, December 23rd. Robert W. Baird cut shares of Terreno Realty from an outperform rating to a neutral rating and cut their price objective for the company from $80.00 to $79.00 in a research report on Tuesday. Finally, KeyCorp boosted their price objective on shares of Terreno Realty from $71.00 to $86.00 and gave the company an overweight rating in a research report on Friday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $81.29.

Shares of TRNO stock traded down $1.32 during mid-day trading on Thursday, reaching $76.53. 5,703 shares of the company’s stock traded hands, compared to its average volume of 333,528. The firm has a 50 day moving average price of $79.00 and a two-hundred day moving average price of $71.42. Terreno Realty has a 12 month low of $53.97 and a 12 month high of $86.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $5.46 billion, a PE ratio of 79.44 and a beta of 0.62.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, November 3rd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.14). Terreno Realty had a net margin of 32.60% and a return on equity of 4.11%. The business had revenue of $57.27 million for the quarter, compared to the consensus estimate of $54.92 million. As a group, equities analysts expect that Terreno Realty will post 1.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 5th. Shareholders of record on Wednesday, December 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, December 14th. Terreno Realty’s payout ratio is 138.78%.

Several institutional investors have recently made changes to their positions in TRNO. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Terreno Realty in the 2nd quarter valued at approximately $27,000. Atlantic Trust LLC acquired a new position in Terreno Realty in the 2nd quarter worth approximately $27,000. Farmers & Merchants Investments Inc. acquired a new position in Terreno Realty in the 3rd quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. increased its holdings in Terreno Realty by 485.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 388 shares during the period. Finally, FinTrust Capital Advisors LLC increased its holdings in Terreno Realty by 74.5% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 642 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 274 shares during the period. 93.54% of the stock is owned by hedge funds and other institutional investors.

About Terreno Realty

Terreno Realty Corp. operates as a real estate company, which acquires, owns, and manages industrial properties. It invests in several types of industrial real estate, including warehouse/distribution, flex, research and development, and trans-shipment. The company was founded by Michael A. Coke and W.

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