Terreno Realty Corporation (TRNO, Financial) has expanded its portfolio with the acquisition of an industrial facility in Long Island City, Queens, New York. The purchase, completed on April 24, was valued at approximately $7.6 million.
The newly acquired property includes a 20,000 square foot industrial distribution building situated on a half-acre plot. The building is fully leased to a commercial bakery and kitchen operation, with the lease extending through December 2027.
This acquisition is expected to generate a stabilized capitalization rate of 4.6%, further strengthening Terreno Realty’s investment in industrial real estate. The property’s strategic location in a key urban area enhances its appeal, aligning with the company's focus on high-demand logistics centers.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 17 analysts, the average target price for Terreno Realty Corp (TRNO, Financial) is $65.94 with a high estimate of $80.00 and a low estimate of $52.00. The average target implies an upside of 15.99% from the current price of $56.85. More detailed estimate data can be found on the Terreno Realty Corp (TRNO) Forecast page.
Based on the consensus recommendation from 18 brokerage firms, Terreno Realty Corp's (TRNO, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Terreno Realty Corp (TRNO, Financial) in one year is $76.98, suggesting a upside of 35.41% from the current price of $56.85. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Terreno Realty Corp (TRNO) Summary page.
