Goldman Sachs analyst Caitlin Burrows upgraded Terreno Realty (TRNO) to Buy from Neutral with a price target of $77, up from $65, following the Q4 report. The firm now forecasts 9% average annual growth for Terreno over each of 2025 through 2027, which is the highest across its real estate investment trust coverage. Terreno benefits from improving absorption across the sector and company-specific drivers including accretive acquisitions in late 2024 plus expectations for 2025, no near-term refinance headwinds, and infill locations that are currently prioritizing rate over occupancy, the analyst tells investors in a research note.
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