Terreno Realty Stock Price, News & Analysis

Terreno Realty Corporation (NYSE:TRNO) has announced a new lease for 192,000 square feet of industrial real estate in Northern New Jersey, set to commence on April 1, 2023, and expire in November 2028. This follows an early termination agreement with a prior tenant, effective March 31, 2023. Terreno operates in six major coastal U.S. markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. The lease is expected to strengthen TRNO's position in the logistics sector.

Terreno Realty Corporation (NYSE:TRNO) reported robust results for Q4 2022, achieving a 98.6% overall occupancy rate, up from 98.4% in Q3 2022 and 95.5% YoY. Same-store occupancy rose to 99.5%, and cash rents increased by 45.2% for new and renewed leases. The company acquired $59.4 million in properties during the quarter and $414.8 million for the year. However, it issued 814,526 shares raising $47.9 million through its ATM program, which may affect shareholder equity.

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Rancho Dominguez, California for approximately $22.4 million as of December 30, 2022. This 51,000-square-foot building is situated near major transport hubs and is leased until June 2023. Post-lease, the property is slated for redevelopment into a 2.8-acre improved land parcel with an estimated stabilized cap rate of 6.2%. This acquisition aims to enhance Terreno's portfolio in key U.S. coastal markets.

Terreno Realty Corporation (NYSE:TRNO) has announced the sale of an industrial property in Bayonne, New Jersey, for approximately $24.3 million on December 27, 2022. The property, spanning around 98,000 square feet and 3.6 acres, is fully leased to a single tenant. Terreno initially acquired the property on March 31, 2014, for about $9.2 million, resulting in an unleveraged internal rate of return of 14.1%. This transaction reflects the company's strategy in the industrial real estate market across six major coastal U.S. locations.

Terreno Realty Corporation (NYSE:TRNO) has secured a lease for 6.7 acres of improved land in Medley, Florida, with a North American equipment rental provider. This lease will begin on February 1, 2023, and continue until March 2033. Terreno specializes in acquiring, owning, and operating industrial real estate across six major U.S. coastal markets including Los Angeles, New York City, and Miami.

Terreno Realty Corporation (NYSE:TRNO) has secured a lease renewal for 110,000 square feet in Commerce, California, extending the lease expiration from March 2023 to April 2028. This renewal highlights the company's commitment to maintaining long-term relationships with tenants in the industrial real estate sector.

Terreno operates in six major coastal U.S. markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.

Terreno Realty Corporation (NYSE: TRNO) announced the appointment of Irene H. Oh as an independent director, effective January 1, 2023, expanding its Board to nine members. Ms. Oh brings a wealth of experience, having served as Executive Vice President and CFO of East West Bancorp since January 2010. She also holds positions on the audit committee for the United Way of Greater Los Angeles. Terreno Realty operates industrial real estate in six major coastal U.S. markets, including Los Angeles, New Jersey, San Francisco, Seattle, Miami, and Washington, D.C.

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Elizabeth, New Jersey for approximately $15.4 million as of November 29, 2022. The property spans 23,000 square feet on 1.8 acres, is located near Newark Liberty International Airport, and is fully leased on a short-term basis. It features two dock-high and two grade-level loading positions. The estimated stabilized cap rate is 5.4%, calculated based on net operating income and total acquisition costs.

Terreno Realty Corporation (NYSE:TRNO) sold an industrial property in Somerset, New Jersey, on November 17, 2022, for $25 million. The property spans approximately 86,000 square feet on 6.9 acres and is fully leased to a single tenant. Terreno acquired the property on September 1, 2016, for about $9.1 million, achieving an impressive unleveraged internal rate of return of 20.7% on this investment. The company operates across major coastal U.S. markets, including Los Angeles and New York City.