Terreno Realty: Strategic Assets and Growth Potential Affirm Positive Outlook

Analyst Barry Oxford from Colliers Securities maintained a Buy rating on Terreno Realty (TRNO – Research Report) and keeping the price target at $70.00.

Barry Oxford’s rating is based on a combination of strategic asset locations and the potential for internal growth. Specifically, Terreno Realty’s properties are well-positioned in tier 1 coastal markets, which are expected to see superior pricing, lower vacancy rates, and higher rental growth rates. Additionally, the current rents are notably below market rates, suggesting room for significant growth. The company’s active approach to acquisitions and development further supports the positive outlook.
Moreover, Terreno Realty’s financial performance demonstrates robust growth, with funds from operations (FFO) increasing and same-store net operating income (NOI) showing impressive gains. The company maintains a high occupancy rate, despite slight fluctuations, and reports rising cash rents on new and renewed leases. Barry also highlights the company’s strong balance sheet with low debt relative to market capitalization and ample liquidity, which positions it well for navigating the acquisition market and for future growth.

In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $73.00 price target.

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Terreno Realty (TRNO) Company Description:

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. Blake Baird on November 6, 2009 and is headquartered in San Francisco, CA.