BMO Capital analyst John Kim has maintained their neutral stance on TRNO stock, giving a Hold rating yesterday.
John Kim’s rating is based on a combination of positive and cautious factors. Terreno Realty demonstrated strong performance in the first quarter of 2025, with a notable increase in Cash Same-Store Net Operating Income (SSNOI) and leasing spreads, which exceeded expectations. However, despite these positive indicators, the company missed the consensus Funds From Operations per share (FFOps) estimate by a small margin, which contributes to a cautious outlook.
Moreover, management’s concern about a potential U.S. recession due to tariffs has led them to prioritize occupancy over rental rates, reflecting a conservative approach. Additionally, the increase in accounts receivable reserves and a higher hurdle rate for acquisitions indicate a more cautious stance on future growth opportunities. These factors combined suggest a balanced view, leading to the Hold rating as the company navigates both opportunities and risks in the current economic environment.
In another report released yesterday, Piper Sandler also maintained a Hold rating on the stock with a $60.00 price target.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TRNO in relation to earlier this year.