Terreno Realty Stock Price, News & Analysis

Terreno Realty Corporation (NYSE:TRNO) announced the sale of an industrial property in Bound Brook, New Jersey on May 2, 2022, for approximately $110.4 million. The 581,000 square feet property consists of 18 distribution buildings, fully leased to 29 tenants. Acquired for about $27.0 million in September 2010, this investment yielded an unleveraged internal rate of return of 15.2%. Terreno operates in key U.S. coastal markets, ensuring a strategic position in the industrial real estate sector.

Terreno Realty Corporation (NYSE:TRNO) has acquired a 9.7-acre industrial property in Newark, New Jersey, for $17.3 million. The acquisition, completed on April 18, 2022, adds to its portfolio of industrial real estate across six coastal U.S. markets. The property is 100% leased to two tenants, with an estimated stabilized cap rate of 5.3%. This strategic location near the New Jersey Turnpike aims to bolster TRNO’s market presence and operational capacity.

Terreno Realty Corporation (NYSE:TRNO) has successfully acquired an industrial property in Redmond, Washington for approximately $9.8 million on April 8, 2022. This acquisition includes two distribution buildings totaling around 32,000 square feet on 2.0 acres. The property is 100% leased and features 13 grade-level loading positions, with parking for 58 vehicles. The estimated stabilized cap rate is 4.1%, indicating a solid investment. This acquisition strengthens Terreno's industrial footprint in key U.S. markets.

Terreno Realty Corporation (NYSE:TRNO) reported strong first-quarter 2022 results with a quarter-end occupancy of 96.9% and same-store occupancy of 98.4%, reflecting an increase from the previous quarter and year. The company achieved a 34.8% rise in cash rents on new and renewed leases and a tenant retention ratio of 47.7%. They completed the Americas Gateway 5 redevelopment with an estimated stabilized cap rate of 6.6%. Year-to-date acquisitions totaled $86.1 million, with $293.6 million under contract or letter of intent.

Terreno Realty Corporation (NYSE: TRNO) has announced agreements to establish rooftop solar projects in Washington, D.C., with a total power capacity of 8.4 MW, enough to supply over 700 homes. These projects align with the company's sustainability goal of implementing solar solutions on at least 5% of their rooftop areas by the end of 2024. The projects are anticipated to be operational in 2023, supporting Terreno’s commitment to renewable energy.

Terreno Realty Corporation (NYSE:TRNO) has acquired three industrial properties in Bellevue, Washington on February 23, 2022, for approximately $13.0 million. The portfolio includes:

• One industrial distribution building (20,000 sq. ft.) at 11113 NE 33rd Place,
• One flex building (9,000 sq. ft.) at 11110 Northup Way,
• One improved land parcel (1.2 acres) at 11135 NE 33rd Place.

All properties are fully leased with an estimated stabilized cap rate of 3.4%.

Terreno Realty Corporation (NYSE:TRNO) has finalized the redevelopment of its America’s Gateway Building 5 in Doral, Florida, leasing 100% of the property. The redevelopment, costing approximately $7.5 million, features a renovated 52,000 square foot industrial building on 2.4 acres. The property, leased to four tenants with leases expiring in 2027, boasts a stabilized cap rate of 6.6%. This development strengthens TRNO's portfolio in major coastal U.S. markets.

Terreno Realty Corporation (NYSE:TRNO) has acquired a new industrial property in Hialeah, Florida for approximately $73.2 million, net of free-rent credits. This property features two rear-load industrial distribution buildings totaling 407,000 square feet and is fully leased to two tenants. The estimated stabilized cap rate for this acquisition is 3.8%.

The property is strategically located near key transportation routes, enhancing its operational efficiency.

Terreno Realty Corporation (NYSE: TRNO) declared a regular cash dividend of $0.34 per common share for the quarter ending March 31, 2022. The dividend is payable on April 8, 2022 to stockholders of record as of the close of business on March 25, 2022. The company also filed its annual report on Form 10-K for the year ending December 31, 2021, providing detailed financial statements and supplemental information available on its website.