Terreno Realty initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Caitlin Burrows initiated coverage of Terreno Realty with a Neutral rating and $65 price target. The analyst expects the company’s same store net operating income growth to continue to be strong in 2023, driven by high lease mark to markets. However, current macro conditions limit acquisition Terreno’s opportunities, the analyst tells investors in a research note.