DA Davidson Reiterates Buy Rating for Terreno Realty (TRNO)
DA Davidson reaffirmed their buy rating on shares of Terreno Realty (NYSE:TRNO) in a research report released on Friday morning. DA Davidson also issued estimates for Terreno Realty’s Q1 2018 earnings at $0.29 EPS, Q2 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.20 EPS, Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.33 EPS, Q3 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.34 EPS and FY2019 earnings at $1.32 EPS.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Terreno Realty from a hold rating to a buy rating and set a $40.00 price target for the company in a report on Thursday, January 25th. Robert W. Baird reaffirmed a hold rating and set a $35.00 price target on shares of Terreno Realty in a report on Tuesday, January 9th. National Securities raised shares of Terreno Realty from a neutral rating to a buy rating and set a $45.00 price target for the company in a report on Wednesday, November 22nd. BidaskClub lowered shares of Terreno Realty from a strong-buy rating to a buy rating in a report on Monday, October 23rd. Finally, Sandler O’Neill set a $40.00 price target on shares of Terreno Realty and gave the company a buy rating in a report on Friday, January 12th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Terreno Realty currently has an average rating of Buy and an average price target of $38.30.
Shares of Terreno Realty (TRNO) opened at $32.86 on Friday. Terreno Realty has a 52-week low of $26.48 and a 52-week high of $38.54. The stock has a market cap of $1,822.71, a price-to-earnings ratio of 34.59, a PEG ratio of 2.64 and a beta of 0.73. The company has a quick ratio of 4.87, a current ratio of 1.68 and a debt-to-equity ratio of 0.46.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRNO. Prudential Financial Inc. bought a new position in Terreno Realty during the 2nd quarter valued at $250,000. Nationwide Fund Advisors boosted its stake in Terreno Realty by 3.7% during the 2nd quarter. Nationwide Fund Advisors now owns 27,939 shares of the real estate investment trust’s stock valued at $940,000 after acquiring an additional 991 shares during the last quarter. Amalgamated Bank bought a new position in Terreno Realty during the 2nd quarter valued at $210,000. New York State Common Retirement Fund boosted its stake in Terreno Realty by 78.6% during the 2nd quarter. New York State Common Retirement Fund now owns 83,572 shares of the real estate investment trust’s stock valued at $2,813,000 after acquiring an additional 36,771 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Terreno Realty by 14.1% during the 2nd quarter. Northern Trust Corp now owns 868,281 shares of the real estate investment trust’s stock valued at $29,227,000 after acquiring an additional 107,080 shares during the last quarter. 99.14% of the stock is owned by institutional investors and hedge funds.
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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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