Shares of Terreno Realty Corporation (NYSE:TRNO) traded today at $67.72, eclipsing its 52-week high. This new high was reached on below average trading volume as 65,000 shares traded hands, while the average 30-day volume is approximately 240,000 shares.
Terreno Realty Corp is a real estate investment trust primarily engaged in the acquisition, ownership, and operation of industrial real estate in the U.S. Warehouse properties located in large, densely-populated urban areas along the U.S. coastline comprise the vast majority of the company’s portfolio. Terreno derives nearly all of its revenue in the form of rental income from tenants. The markets of Northern New Jersey and New York City, Washington DC and Baltimore, and Miami account for the majority of the company’s total square footage and rental income. Terreno’s largest customers are large manufacturers and distributors, such as FedEx, the U.S. Government, and Northrop Grumman Systems. The company controls a smaller number of light industrial and research and development facilities.
Terreno Realty Corporation (NYSE:TRNO) defies analysts with a current price ($67.14) 3.8% above its average consensus price target of $64.61.
Terreno Realty Corporation share prices have moved between a 52-week high of $67.72 and a 52-week low of $51.05 and are now trading 32% above that low price at $67.14 per share.
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