Terreno Realty (NYSE:TRNO) Stock Rating Lowered by Zacks Investment Research

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

TRNO has been the subject of a number of other reports. Mizuho decreased their price target on Terreno Realty from $76.00 to $64.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. JMP Securities began coverage on Terreno Realty in a research note on Wednesday, May 18th. They issued an “outperform” rating and a $75.00 price target for the company. TheStreet downgraded Terreno Realty from a “b” rating to a “c+” rating in a research note on Thursday, May 19th. Finally, StockNews.com began coverage on Terreno Realty in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $79.57.

Shares of NYSE TRNO opened at $61.97 on Friday. Terreno Realty has a 1 year low of $58.64 and a 1 year high of $86.00. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 49.58 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.43 and a current ratio of 2.43. The stock’s 50-day simple moving average is $70.42 and its 200-day simple moving average is $73.58.

Terreno Realty (NYSE:TRNOGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.20). The firm had revenue of $64.04 million during the quarter, compared to analyst estimates of $62.16 million. Terreno Realty had a return on equity of 4.79% and a net margin of 38.50%. As a group, research analysts predict that Terreno Realty will post 1.96 EPS for the current year.

In other Terreno Realty news, CEO W Blake Baird acquired 1,000 shares of Terreno Realty stock in a transaction dated Monday, May 9th. The stock was acquired at an average cost of $64.00 per share, for a total transaction of $64,000.00. Following the completion of the transaction, the chief executive officer now owns 588,376 shares in the company, valued at approximately $37,656,064. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

A number of large investors have recently made changes to their positions in TRNO. HHM Wealth Advisors LLC bought a new stake in Terreno Realty during the first quarter worth approximately $28,000. Point72 Hong Kong Ltd bought a new position in shares of Terreno Realty in the first quarter valued at $28,000. USA Financial Portformulas Corp bought a new position in shares of Terreno Realty in the fourth quarter valued at $39,000. FinTrust Capital Advisors LLC increased its holdings in shares of Terreno Realty by 74.5% in the third quarter. FinTrust Capital Advisors LLC now owns 642 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 274 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new position in shares of Terreno Realty in the fourth quarter valued at $51,000.

About Terreno Realty (Get Rating)

Terreno Realty Corporation and together with its subsidiaries, the Company) 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 All square feet, acres, occupancy and number of properties disclosed in these condensed notes to the consolidated financial statements are unaudited.

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