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TheStreet Ratings Top 10 Rating Changes

Rating Change #1

Terreno Realty Corporation (TRNO - Get Report) has been upgraded by TheStreet Ratings from sell to hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including poor profit margins and a generally disappointing performance in the stock itself.

Highlights from the ratings report include:

  • TRNO's very impressive revenue growth greatly exceeded the industry average of 18.0%. Since the same quarter one year prior, revenues leaped by 95.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The current debt-to-equity ratio, 0.32, is low and is below the industry average, implying that there has been successful management of debt levels.
  • Compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market, TERRENO REALTY CORP's return on equity significantly trails that of both the industry average and the S&P 500.
  • TRNO has underperformed the S&P 500 Index, declining 7.95% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • The gross profit margin for TERRENO REALTY CORP is currently extremely low, coming in at 11.70%. Despite the low profit margin, it has increased significantly from the same period last year. Despite the mixed results of the gross profit margin, TRNO's net profit margin of -4.00% significantly underperformed when compared to the industry average.

Terreno Realty Corporation engages in acquiring, owning, and operating real estate properties in Los Angeles area, northern New Jersey/New York City, San Francisco Bay area, Seattle area, Miami area, and Washington D.C./Baltimore area. Terreno has a market cap of $205.5 million and is part of the financial sector and real estate industry. Shares are up 1.4% year to date as of the close of trading on Thursday.

You can view the full Terreno Ratings Report or get investment ideas from our investment research center.

-- Reported by Kevin Baker in Palm Beach Gardens, Fla.



For additional Investment Research check out our Ratings Research Center.

For all other upgrades and downgrades made by TheStreet Ratings Model today check out our upgrades and downgrades list.

Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering equity and mutual fund ratings. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.
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