Deutsche Bank initiated coverage of Terreno Realty (TRNO) with a Hold rating and $60 price target The firm launched coverage of the industrial real estate investment trust sector with a neutral weighting from a sub-sector allocation within a REIT dedicated portfolio. Eastgroup Properties (EGP) is Deutsche Bank’s lone Buy rating. The firm believes 2025 “will closely mirror” 2024 in terms of fundamentals, as demand continues to normalize in a post pandemic world. Users are still working through warehouse space that was leased during the pandemic when demand was pulled forward in response to broken supply chains, the analyst tells investors in a research note. The firm believes that until this is fully absorbed, there is limited incentive to lease additional new space. As such, occupancy growth may prove challenging in 2025, according to Deutsche Bank.
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Read More on TRNO:
- Terreno Realty downgraded to Equal Weight from Overweight at Barclays
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- Terreno Realty reports Q4 occupancy 97.4% vs. 97.0% in Q3
- Terreno Realty price target lowered to $66 from $67 at Baird
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