Terreno Realty (TRNO) Reiterated at Market Outperform by Citizens on Investment Strategy

Citizens analyst Mitch Germain reiterated a Market Outperform rating and $70.00 price target on Terreno Realty Corp (NYSE: TRNO).

The analyst commented, "We continue to have a favorable view of Terreno's streamlined investment strategy, focused on markets that are critical to the flow of goods, which have consistently illustrated outperformance across cycles. Their smaller asset size, ~65ksf on average, creates less concentration risk, while many of Terreno's markets are less susceptible to supply threats. The company boasts a balance sheet with sector-low leverage, offering ample runway for deployment. Finally, management is committed to best-in-class governance and alignment. Shares have historically traded at a 10% NAV premium, though currently trade is somewhat aligned with NAV, keeping us positive. Our $70 price target is derived from applying the historical premium to our NAV."

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 $64.06 yesterday.

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