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Terreno Realty (NYSE: TRNO) declared a cash dividend of $0.45 per share for the quarter ending June 30, 2024. The dividend will be paid on July 12, 2024, to common stockholders of record on June 28, 2024. The company also filed its Form 10-Q for the quarter ended March 31, 2024 with the SEC. Terreno Realty focuses on industrial real estate in key U.S. markets.
Terreno Realty acquired a portfolio of industrial properties in New York City, Northern New Jersey, San Francisco, and Los Angeles for $364.5 million. The portfolio consists of 28 buildings totaling 1.2 million square feet, with a 91.6% occupancy rate. The in-place cap rate is 4.3%, estimated stabilized cap rate is 5.0%, and adjusting to market rents is 5.8%. Goldman Sachs & Co. served as the financial advisor for the acquisition.
