Terreno Realty Corp. (NYSE:TRNO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Friday.

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 topic of a number of other reports. BTIG Research began coverage on Terreno Realty Corp. in a report on Thursday, August 25th. They set a “buy” rating and a $30.00 price target on the stock. Compass Point increased their price target on Terreno Realty Corp. from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. DA Davidson restated a “buy” rating on shares of Terreno Realty Corp. in a report on Monday. National Securities increased their price target on Terreno Realty Corp. from $24.50 to $28.00 and gave the stock a “buy” rating in a report on Thursday. Finally, FBR & Co increased their price target on Terreno Realty Corp. from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.61.

Analyst Recommendations for Terreno Realty Corp. (NYSE:TRNO)

Terreno Realty Corp. (NYSE:TRNO) opened at 26.04 on Friday. The firm has a market capitalization of $1.20 billion, a P/E ratio of 112.24 and a beta of 0.69. The company’s 50-day moving average is $25.97 and its 200-day moving average is $25.78. Terreno Realty Corp. has a one year low of $20.44 and a one year high of $28.29.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Wednesday, December 28th. Terreno Realty Corp.’s payout ratio is currently 347.83%.

A number of large investors have recently added to or reduced their stakes in the stock. Resolution Capital Ltd raised its stake in Terreno Realty Corp. by 8.5% in the second quarter. Resolution Capital Ltd now owns 1,067,514 shares of the company’s stock worth $27,617,000 after buying an additional 83,245 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Terreno Realty Corp. by 5.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,440,798 shares of the company’s stock valued at $33,787,000 after buying an additional 68,704 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Terreno Realty Corp. by 6,510.3% in the second quarter. Principal Financial Group Inc. now owns 682,513 shares of the company’s stock valued at $17,656,000 after buying an additional 672,188 shares in the last quarter. Capital Analysts LLC raised its stake in shares of Terreno Realty Corp. by 573.3% in the second quarter. Capital Analysts LLC now owns 14,812 shares of the company’s stock valued at $853,000 after buying an additional 12,612 shares in the last quarter. Finally, Eaton Vance Management raised its stake in shares of Terreno Realty Corp. by 5.0% in the second quarter. Eaton Vance Management now owns 10,600 shares of the company’s stock valued at $274,000 after buying an additional 500 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Terreno Realty Corp. Company Profile

Terreno Realty Corporation (Terreno) is a real estate investment trust. The Company acquires, owns and operates industrial real estate located in approximately six coastal United States markets, such as Los Angeles Area; Northern New Jersey/New York City; San Francisco Bay Area; Seattle Area; Miami Area, and Washington, DC/Baltimore.

5 Day Chart for NYSE:TRNO

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