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Terreno Realty

Terreno Realty Corp is a real estate investment trust engaged in acquiring, owning, and operating industrial real estate in six coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. The company invests in several types of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development), transshipment, and improved land.

Warehouse

REIT

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STAG

TRNO

These High-Yield Industrial REITs Have Long Track Records of Dividend Growth

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REXR

Terreno Realty (NYSE: TRNO) is witnessing healthy demand for its properties. Recently, the company executed a lease for 5.5 acres of improved land in Newark, NJ. This lease with an automobile exporter commenced on May 16, 2024 and is slated for expiry in January 2028.


Terreno Leases Newark Property, Sees Decent Demand

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These REITs Yield Up to 6.2% and Have Track Records of Dividend Growth

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If You Invested $10K In Terreno Realty Five Years Ago, Here&#39;s How Much Your Shares Would Be Worth Today

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COLD

Election Year Triggers Investment Surge in Key Industrial REITs

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2 Industrial REITs to Buy for Yield and Income in 2024

IIPR

NLCP

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4 Industrial REITs With Above-Average Dividend Yields

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Terreno Realty Corp (NYSE: TRNO) disclosed major operating and 

Terreno Realty Q3 Developments: Attained 98.3% Occupancy, No Debt Maturities In 2023 &amp; More

Terreno Realty Buys Property In Washington, D.C. For $13.4M

Terreno Realty Corp

Industrial real estate investment trusts (REITs) own and manage income-generating industrial properties, such as warehouses, distribution centers, logistics facilities, and manufacturing plants. Industrial REITs generate income by leasing the properties.
Investors in industrial REITs can benefit from the demand for space in the logistics and manufacturing sectors. The growth of e-commerce and the need for efficient supply chain management have contributed to the growth of the space in recent years. Similar to other REITs, industrial REITs are required to distribute a significant portion of their income to shareholders in the form of dividends.
If you're interested in investing in industrial REITs, here are two you could buy today.
<h2 class="wp-block-heading">Stag Industrial</h2>
Stag Industrial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STAG#NYSE">STAG</a>) owns and operates <a href="https://s23.q4cdn.com/763235638/files/doc_presentations/2024/05/STAG-Industrial-Spring-Investor-Presentation-5-7-2024.pdf">570</a> industrial properties in 41 states containing approximately 113 million square feet as of March 31. It counts Amazon and FedEx as two of its largest tenants.
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<li>A new fund backed by Jeff Bezos offers a 7-9% target yield with monthly dividends.<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> Here&#8217;s how you can invest today.</a></li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." These<a href="https://www.benzinga.com/real-estate/23/05/32554601/want-to-grow-your-wealth-passively-these-high-yield-real-estate-notes-might-be-your-holy-grail"> high-yield real estate notes that pay 7.5% &#8211; 9%</a> make earning passive income easier than ever.</li>
</ul>
Stag pays a monthly dividend of $0.123333 per share, equating to an annualized dividend of $1.48 per share, which gives its stock a yield of about 4.2% at the time of this writing.&nbsp;
On top of offering a high yield, Stag is a dividend-growth superstar. It has raised its annual dividend every year since its 2011 initial public offering, putting it on pace for 2024 to mark the 13th consecutive year in which it has raised its annual dividend payment.
<h2 class="wp-block-heading">Terreno Realty Corporation</h2>
Terreno Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) owns and manages a portfolio of <a href="https://s23.q4cdn.com/519627146/files/doc_presentations/2024/May/08/2024-Q1.pdf">290</a> industrial properties containing approximately 17.4 million square feet across six major coastal U.S. markets &#8211; Seattle, the San Francisco Bay Area, Los Angeles, Miami, Washington D.C., and Northern New Jersey / New York City.
Terreno currently pays a quarterly dividend of $0.45 per share, equating to an annualized dividend of $1.80 per share, which gives its stock a yield of about 3.2% at the time of this writing.&nbsp;
Like Stag, Terreno is a dividend-growth superstar. It has raised its dividend every year since paying its first dividend in 2011, putting it on track for 2024 to mark the 13th consecutive year with an increase.
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Image Credit: Shutterstock

Barclays analyst Brendan Lynch maintains Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Overweight and lowers the price target from $71 to $68.

Price Target

Barclays Maintains Overweight on Terreno Realty, Lowers Price Target to $68

Terreno Realty (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trno#NYSE">TRNO</a>) is witnessing healthy demand for its properties. Recently, the company executed a lease for 5.5 acres of improved land in Newark, NJ. This lease with an automobile exporter commenced on May 16, 2024 and is slated for expiry in January 2028. 
The demand for industrial real estate space has been high amid an e-commerce boom, growth in industries and companies making efforts to improve supply-chain efficiencies. Terreno Realty is also experiencing healthy demand for its properties. 
TRNO&#39;s operating portfolio was 96.2% leased to 572 tenants as of Mar 31, 2024. For the company&#39;s improved land portfolio of 45 parcels spanning 152.4 acres, the leased rate was 94.6% as of Mar 31, 2024 compared to 94.6% and 98.9% recorded as of Dec 31, 2023 and Mar 31, 2023, respectively. 
However, TRNO was able to lock in higher rents on new and renewed leases during the quarter. The cash rents on new and renewed leases climbed 47.2%. The tenant retention ratio was 54.7% for the operating portfolio and 82.5% for the improved land portfolio. 
Per a Cushman &amp; Wakefield (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cwk#NYSE">CWK</a>) report, following two years of remarkable growth emerging from the pandemic, the U.S. industrial real estate market continues to cool off. Though tenant demand tapered off in the first quarter, it remains positive. The overall vacancy rate is trending higher as new completions continue to surpass net absorption. 
However, though demand is moderating, it is not significantly plunging. There is new supply in the market, and vacancy rates are rising but at a manageable pace. Similarly, growth in rents is decelerating but remains solidly positive, suggesting a &quot;soft landing&quot;. 
There was healthy new leasing activity throughout the first quarter. With 128.7 million square feet (msf) of transactions completed, quarterly new leasing activity was 3% higher than the 10-year pre-pandemic average from 2010 to 2019. Absorption slowed in the quarter but remained positive, with net absorption coming at 13.8 msf, down from 48 msf in the prior quarter and from the 77 msf recorded a year ago. 
The overall vacancy rate is trending higher as new completions continue to surpass net absorption. The overall vacancy rate climbed an additional 60 basis points (bps) to reach 5.8%, propelled upward for the fifth consecutive quarter by the influx of new speculative supply. Despite being elevated, vacancy remains below its historical average of 7%. There is a moderation in rent growth, and industrial rents grew 6% annually in the first quarter of 2024 compared with 10% in 2023 and 20% in 2022.
<h3>Conclusion</h3>
With a solid operating platform, a robust balance sheet position and strategic expansion moves, TRNO seems well-positioned to capitalize on long-term growth opportunities amid favorable industry fundamentals. 
Nonetheless, the rising supply of industrial real estate, stabilizing e-commerce sales growth, persistent macroeconomic uncertainty and a high interest rate environment pose key concerns for the company. 
Shares of Terreno Realty, currently carrying a Zacks Rank #3 (Hold), have risen 5.5% in the past month compared with the industry&#39;s growth of 7.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ac/67075.jpg?v=2052300687" /> 
Image Source: Zacks Investment Research
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the REIT sector are Rexford Industrial Realty, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rexr#NYSE">REXR</a>) and OUTFRONT Media Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/out#NYSE">OUT</a>), each carrying a Zacks Rank #2 (Buy) at present. 
The Zacks Consensus Estimate for Rexford Industrial Realty&#39;s 2024 FFO per share stands at $2.34, which indicates an increase of 6.85% from the year-ago period&#39;s actual. 
The Zacks Consensus Estimate for OUTFRONT Media&#39;s 2024 FFO per share is pegged at $1.71, which suggests 4.27% year-over-year growth. 
Note: Anything related to earnings presented in this write-up represents FFO &mdash; a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2276236/terreno-trno-leases-newark-property-sees-decent-demand?cid=CS-BENZ-FT-analyst_blog|company_news_-_finance_sector-2276236">To read this article on Zacks.com click here.</a>

Scotiabank analyst Greg McGinniss maintains Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Sector Perform and lowers the price target from $66 to $59.

Scotiabank Maintains Sector Perform on Terreno Realty, Lowers Price Target to $59

In the last three months, 7 analysts have published ratings on Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>), offering a diverse range of perspectives from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Terreno Realty, presenting an average target of $66.14, a high estimate of $73.00, and a low estimate of $60.00. Surpassing the previous average price target of $63.33, the current average has increased by 4.44%.
<img src="https://www.benzinga.com/files/images/story/2024/1715695236_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
A comprehensive examination of how financial experts perceive Terreno Realty is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Caitlin Burrows</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$60.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Mitch Germain</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$65.00</td>
<td>-</td>
</tr>
<tr>
<td>Vikram Malhotra</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$62.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Mitch Germain</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$65.00</td>
<td>-</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$67.00</td>
<td>-</td>
</tr>
<tr>
<td>Brendan Lynch</td>
<td>Barclays</td>
<td>Announces</td>
<td>Overweight</td>
<td>$71.00</td>
<td>-</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$73.00</td>
<td>$70.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Terreno Realty. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Terreno Realty compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Terreno Realty's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of Terreno Realty's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/TRNO/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Terreno Realty analyst ratings.</a>
<h2>Unveiling the Story Behind Terreno Realty</h2>
Terreno Realty Corp is a real estate investment trust engaged in acquiring, owning, and operating industrial real estate in six coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. The company invests in several types of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development), transshipment, and improved land.
<h3>Terreno Realty: A Financial Overview</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Terreno Realty showcased positive performance, achieving a revenue growth rate of 13.9% as of 31 March, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Real Estate sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 42.23%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Terreno Realty's ROE stands out, surpassing industry averages. With an impressive ROE of 1.13%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Terreno Realty's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.86%, the company showcases efficient use of assets and strong financial health.
Debt Management: Terreno Realty's debt-to-equity ratio is below the industry average at 0.22, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Analyst Ratings: What Are They?</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Terreno Realty Stock

Goldman Sachs analyst Caitlin Burrows maintains Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Neutral and lowers the price target from $68 to $60.

Goldman Sachs Maintains Neutral on Terreno Realty, Lowers Price Target to $60

JMP Securities analyst Mitch Germain reiterates Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Market Outperform and maintains $65 price target.

Reiteration

JMP Securities Reiterates Market Outperform on Terreno Realty, Maintains $65 Price Target

Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) reported quarterly earnings of $0.57 per share which missed the analyst consensus estimate of $0.58 by 1.72 percent. This is a 11.76 percent increase over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $85.03 million which missed the analyst consensus estimate of $87.65 million by 2.99 percent. This is a 13.90 percent increase over sales of $74.65 million the same period last year.

Earnings

Earnings Misses

Terreno Realty Q1 FFO $0.57 Misses $0.58 Estimate, Sales $85.03M Miss $87.65M Estimate

Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors.
Let's take a look at two REITs with yields up to 6.2% that have been growing their dividends in recent years.
<h2 class="wp-block-heading">Terreno Realty Corporation</h2>
Terreno Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) owns and manages a portfolio of industrial properties across six major coastal U.S. markets &#8211; Seattle, the San Francisco Bay Area, Los Angeles, Miami, Washington D.C., and Northern New Jersey / New York City.
Terreno currently pays a quarterly dividend of $0.45 per share, equating to an annualized dividend of $1.80 per share, which gives its stock a yield of about 3.3% at the time of this writing.&nbsp;
On top of having a high yield, Terreno is a dividend-growth superstar. It has raised its dividend every year since paying its first dividend in 2011, putting it on track for 2024 to mark the 13th consecutive year with an increase.
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<h2 class="wp-block-heading">American Assets Trust</h2>
American Assets Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAT#NYSE">AAT</a>) owns and manages a portfolio of premier office, retail, and residential properties primarily across Southern California, Northern California, Washington, Oregon, Texas, and Hawaii.
AAT currently pays a quarterly dividend of $0.335 per share, equating to an annualized dividend of $1.34 per share, which gives its stock a yield of about 6.2% at the time of this writing.
In addition to having a high yield, AAT is an up-and-coming dividend-growth star. It has raised its annual dividend payment each of the last three years, and its 1.5% hike in February has it on track for 2024 to mark the fourth consecutive year with an increase.
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Terreno Realty Corporation(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired a portfolio of industrial properties located in New York City, Northern New Jersey, San Francisco Bay Area, and Los Angeles on May 2, 2024 for a purchase price of approximately $364.5 million.
The portfolio of 28 buildings containing approximately 1.2 million square feet is 91.6% leased to 70 tenants. The in-place cap rate is 4.3%, the estimated stabilized cap rate is 5.0% and the estimated stabilized cap rate adjusting to today's market rents is 5.8%.
Goldman Sachs &amp; Co. LLC acted as financial advisor to Terreno Realty Corporation on the acquisition.
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
Terreno Realty Corporation 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, D.C.
Additional information about Terreno Realty Corporation is available on the company's web site at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.terreno.com%2F&amp;esheet=53964117&amp;newsitemid=20240429383106&amp;lan=en-US&amp;anchor=www.terreno.com&amp;index=1&amp;md5=9f1a8c5dbd0c4543e982956c59c4f062">www.terreno.com</a>.

Terreno Realty Corporation Acquires Portfolio In New York City, Northern New Jersey, San Francisco And Los Angeles For ~$365M

WIIM

Shares of industrial REITs are trading lower after Prologis cut its 2024 FFO outlook.

Terreno Realty Acquires Alexandria, VA Property For $84.3M

EPRT

FCPT

RDFN

WELL

Shares of REITs are trading lower as Treasury yields rise following March inflation data. A rise in yields has pressured income-paying stocks.

Mizuho analyst Vikram Malhotra maintains Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Neutral and raises the price target from $52 to $62.

Mizuho Maintains Neutral on Terreno Realty, Raises Price Target to $62

Terreno Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold an industrial property located in Seattle, Washington on March 29, 2024 for a sale price of approximately $11.0 million.
The property consists of a 25,000 square foot industrial distribution building on 1.5 acres which is 100% leased to one tenant. The property was purchased by Terreno Realty Corporation on May 6, 2016 for approximately $4.7 million. The unleveraged internal rate of return generated by the investment was 16.5%.
Terreno Realty Corporation 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, D.C.
Additional information about Terreno Realty Corporation is available on the company's web site at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.terreno.com&amp;esheet=53915213&amp;newsitemid=20240325572918&amp;lan=en-US&amp;anchor=www.terreno.com&amp;index=1&amp;md5=9a833d6cbf9adf402045df4a1e370a53">www.terreno.com</a>.

Terreno Realty Corporation Sells Property In Seattle, WA For $11M

Wedbush analyst Richard Anderson reiterates Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Neutral and maintains $67 price target.

Wedbush Reiterates Neutral on Terreno Realty, Maintains $67 Price Target

During the last three months, 4 analysts shared their evaluations of Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Terreno Realty and provided 12-month price targets. The average target is $69.0, accompanied by a high estimate of $73.00 and a low estimate of $66.00. This current average has increased by 6.7% from the previous average price target of $64.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1711540866_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The standing of Terreno Realty among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brendan Lynch</td>
<td>Barclays</td>
<td>Announces</td>
<td>Overweight</td>
<td>$71.00</td>
<td>-</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$73.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Greg McGinniss</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$66.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Caitlin Burrows</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$66.00</td>
<td>$60.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Terreno Realty. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Terreno Realty compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Terreno Realty's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Terreno Realty's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/TRNO/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Terreno Realty analyst ratings.</a>
<h2>All You Need to Know About Terreno Realty</h2>
Terreno Realty Corp is a real estate investment trust engaged in acquiring, owning, and operating industrial real estate in six coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. The company invests in several types of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development), transshipment, and improved land.
<h3>Financial Insights: Terreno Realty</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Terreno Realty's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 13.78% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: Terreno Realty's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 66.23%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.03%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.5%, the company showcases effective utilization of assets.
Debt Management: With a below-average debt-to-equity ratio of 0.26, Terreno Realty adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Expectations For Terreno Realty's Future

Barclays analyst Brendan Lynch initiates coverage on Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Overweight rating and announces Price Target of $71.

Initiation

Barclays Initiates Coverage On Terreno Realty with Overweight Rating, Announces Price Target of $71

General

Terreno Realty shares are trading lower after the company announced a 5 million share common stock offering.

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Terreno Realty (TRNO) just unveiled an announcement. Terreno Realty Corporation has strategically bolstered its Board of Directors by welcoming Con...

Terreno Realty Enhances Board with Constance von Muehlen

As I have previously discussed, I recently attended REITweek, the largest real estate investment trust event of the year. And I have to say, I'm cautiously optimistic about commercial real estate. Here is a look at some key themes from the event.

Three Key Themes From REITweek

Terreno Realty: Nominal Growth Over Per Share Growth

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Barclays analyst Brendan Lynch maintained a Buy rating on Terreno Realty (TRNO – Research Report) today and set a price target of $68.00. The compa...

Barclays Remains a Buy on Terreno Realty (TRNO)

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Press Releases

Terreno Realty Corporation Announces Quarterly Operating, Investment and Capital Markets Activity

Terreno Realty Corporation Announces Development Start in Hialeah, FL

Terreno Realty Corporation Acquires Property in Alexandria, VA for $84.3 Million

Terreno Realty Corporation Announces Development Completion in Hialeah, FL

Terreno Realty Corporation Acquires Portfolio in New York City, Northern New Jersey, San Francisco and Los Angeles for Approximately $365 Million

Terreno Realty Corporation Declares Quarterly Dividend and Files First Quarter 2024 Financial Statements


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