Jefferies Starts Terreno Realty Corp (TRNO) at Hold

Jefferies initiates coverage on Terreno Realty Corp (NYSE: TRNO) with a Hold rating and a price target of $21.00.

Analyst Jonathan Petersen commented: "We believe that TRNO’s stock price is being rewarded due to its focus on some of the historically strongest warehouse markets. Given the uncertainty of the economic environment, and rising supply in many markets, we expect investors are flocking to portfolios where internal growth will perform relatively better than national (or international) portfolios. That said, our favorable view of TRNO’s business model and market position is not unique, and that is reflected in the stock price. All the Industrial REITs in our coverage trade at discounts to NAV, and on a relative basis, TRNO’s -12% discount doesn’t seem so bad."

For an analyst ratings summary and ratings history on Terreno Realty Corp click here. For more ratings news on Terreno Realty Corp click here.

Shares of Terreno Realty Corp closed at $21.16 yesterday.

You May Also Be Interested In

• BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'
• Compass Minerals International (CMP) PT Lowered to $15 at Deutsche Bank
• Mr. Cooper Group Inc. (COOP) PT Raised to $87 at Jefferies