In a report released yesterday, Barry Oxford from Colliers Securities maintained a Buy rating on Terreno Realty (TRNO – Research Report), with a price target of $73.00.
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Barry Oxford has given his Buy rating due to a combination of factors including Terreno Realty Corp.’s strategic location and high-quality assets, which are positioned in tier 1 coastal markets with strong transportation links. These areas are expected to benefit from better pricing, lower vacancy rates, and higher rental growth rates. The company’s active acquisition and development pipeline also supports the Buy rating, as Terreno Realty has been acquiring and developing properties with favorable cap rates and maintaining a strong occupancy rate.
Additionally, the internal growth prospects are promising, with current rents significantly below market levels, suggesting potential for rental income growth. The company’s solid financial performance, as demonstrated by consistent FFO numbers and stable NOI growth, further justifies the positive rating. The recent acquisitions and dispositions indicate a strategic approach to asset management, optimizing returns and leveraging market opportunities, which enhances the company’s overall value proposition.
Oxford covers the Real Estate sector, focusing on stocks such as Mid-America Apartment, Terreno Realty, and Strawberry Fields REIT Inc. According to TipRanks, Oxford has an average return of 2.4% and a 58.61% success rate on recommended stocks.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $78.00 price target.