Terreno Realty Stock Price, News & Analysis

Terreno Realty Corporation (NYSE: TRNO) has initiated an offering of 5,000,000 shares of common stock, with underwriters given a 30-day option to purchase up to an additional 750,000 shares. Proceeds from this offering are intended for future acquisitions, including a 121-acre project in Miami's Countyline Corporate Park, which is entitled for 2.2 million square feet of industrial distribution buildings. Goldman Sachs & Co. LLC and KeyBanc Capital Markets Inc. serve as underwriters. The offering is made under an effective shelf registration statement and will rely on a prospectus and supplement.

Terreno Realty Corporation (NYSE: TRNO) has declared a regular cash dividend of $0.40 per common share for the quarter ending March 31, 2023. This dividend will be payable on April 6, 2023 to shareholders on record as of March 31, 2023. The company has also filed its annual report on Form 10-K for the year ended December 31, 2022, available in the Investors & Media section of the Terreno Realty website. As an operator of industrial real estate in six major U.S. coastal markets, the company continues to focus on growth and stability within its operational landscape.

Terreno Realty Corporation (NYSE:TRNO) has announced the income tax treatment for its 2022 dividend distributions, totaling $1.52 per share. The distribution comprises several quarterly dividends declared in 2021 and 2022, with details including a record date of December 15, 2021, and payment dates spanning between January 5, 2022, and January 13, 2023. Approximately $0.12 of the $0.40 distribution declared on November 1, 2022, will be considered a 2022 distribution for U.S. federal income tax purposes, showcasing significant tax implications for shareholders.

Terreno Realty Corporation (NYSE:TRNO), an owner and operator of industrial real estate, announced a lease agreement for 3.5 acres in Redmond, Washington. This lease, effective March 31, 2023 and expiring in June 2033, is with a North American workplace transportation services provider. The company operates in six major U.S. coastal markets, including Los Angeles, New York City, and Miami.

Investors may find this long-term lease beneficial as it indicates continued demand for industrial space.

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.