Terreno Realty Stock Price, News & Analysis

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.

Terreno Realty Corporation (NYSE:TRNO), based in Bellevue, Washington, announced an early lease renewal in Jamaica, Queens, New York, with a global freight forwarding provider. The renewal covers 63,000 square feet, extending the lease from its original expiration in December 2022 to December 2027. This renewal solidifies the company’s position in the industrial real estate sector, as it operates in six major U.S. coastal markets, including Los Angeles and Miami.

Terreno Realty Corporation (NYSE: TRNO) announced a regular cash dividend of $0.40 per common share for the quarter ending December 31, 2022. This dividend will be payable on January 13, 2023 to stockholders of record as of December 30, 2022. The company 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. For detailed financial information, refer to their quarterly report filed with the SEC.

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Los Angeles, California for approximately $17.0 million on November 1, 2022. This property features a 26,000-square-foot transshipment building on 1.8 acres, providing 19 dock-high loading positions and parking for 66 cars. It is fully leased until September 2024 with an estimated stabilized cap rate of 2.5%. Terreno operates industrial real estate across six major coastal U.S. markets, enhancing its portfolio with this strategic acquisition.

Terreno Realty Corporation (NYSE:TRNO) has renewed a lease for 66,000 square feet in Rancho Dominguez, California, extending it until May 2026. The lease was previously set to expire in April 2023 and is with a third-party logistics provider servicing the Southwestern U.S. and Mexico. This move underscores Terreno's strategic focus on retaining tenants and maintaining occupancy levels across its industrial real estate portfolio, which spans six major U.S. coastal markets, including Los Angeles and New York City.

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Miami, Florida for approximately $4.7 million on October 24, 2022. The property spans 16,000 square feet on 0.7 acres, featuring 2 dock-high loading positions and parking for 15 cars. It is located near Miami International Airport and the Palmetto Expressway, with an estimated stabilized cap rate of 5.2%. This acquisition enhances Terreno's portfolio across six major U.S. coastal markets.

Terreno Realty Corporation (NYSE:TRNO), a major player in the industrial real estate sector, sold a property in Kent, Washington for approximately $8.7 million on October 13, 2022. The property, which spans 32,000 square feet and is situated on 3.8 acres, was 52% leased at the time of sale. Originally acquired for around $2.8 million in 2014, this investment yielded an unleveraged internal rate of return of 15.6%. Terreno operates in six coastal U.S. markets, including Los Angeles and Miami.