Terreno Realty Stock Price, News & Analysis

Terreno Realty Corporation (NYSE:TRNO) reported significant operational and financial updates for Q2 2021. The firm owned 234 buildings and 27 land parcels, achieving a 97.5% lease rate with a 21.1% increase in cash rents. In Q2, it acquired six properties for $54.2 million, boosting its portfolio by approximately 136,000 square feet. Year-to-date, total acquisitions reached $164.2 million. Additionally, the company raised $69.6 million through shares and announced a $150 million private placement of senior unsecured notes to fund sustainable projects.

Terreno Realty Corporation (NYSE:TRNO) has secured a lease for a 40,000 square foot industrial building on 4.5 acres in Gardena, California. The lease will start immediately after the current one ends on June 30, 2021, and will continue until July 31, 2026. This move aligns with Terreno's strategy of operating in key 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) has leased a 1.9-acre improved land parcel in Inglewood, California, to a commercial electric vehicle service provider. The lease, set to start after site improvements in Q3 2021, will last for 12 years. Terreno Realty focuses on acquiring, owning, and operating industrial real estate across six key coastal U.S. markets, including Los Angeles and Miami.

Terreno Realty Corporation (NYSE:TRNO) has acquired a 3.4-acre industrial property in Renton, Washington for approximately $7.6 million on June 14, 2021. This property, located at 500 SW 16th Street, is fully leased to a single tenant and boasts an estimated stabilized cap rate of 1.5%. Terreno Realty specializes in industrial real estate across six major coastal U.S. markets, including Los Angeles and Seattle.

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Seattle for approximately $16.5 million. This acquisition, completed on May 12, 2021, includes one industrial distribution building and two flex buildings, totaling 52,000 square feet. The property, situated at 2454 Occidental Avenue South, is 92% leased to five tenants, with leases expiring by June 2023. The estimated stabilized cap rate is 4.6%.

The company operates in six major coastal U.S. markets, enhancing its industrial real estate portfolio.

Terreno Realty Corporation (TRNO) announced a private placement of $150 million in senior unsecured notes, comprising $100 million in seven-year Green Bonds with a 2.41% interest rate and $50 million in ten-year notes at 2.84%. The notes are set to close around July 15, 2021. Proceeds from the Green Bonds will be allocated to developing green buildings and sustainable projects. PNC Capital Markets LLC acted as the joint-lead placement agent. The notes are exempt from registration under the Securities Act.

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Torrance, California, for approximately $6.3 million as of May 12, 2021. The property features a 17,000 square foot distribution building on 0.9 acres, currently 100% leased on a short-term basis. It offers one dock-high and four grade-level loading positions, with parking for 34 cars. The estimated stabilized cap rate for this acquisition is 4.7%. This strategic move enhances Terreno's portfolio in key coastal U.S. markets.

Terreno Realty Corporation (NYSE: TRNO) has declared a regular cash dividend of $0.29 per common share for the quarter ending June 30, 2021. The dividend will be payable on July 14, 2021 to stockholders of record as of June 30, 2021. Additionally, the company has filed its quarterly report on Form 10-Q for March 31, 2021, with relevant financial statements accessible through its website. Terreno operates in six major coastal U.S. markets, focusing on industrial real estate, including areas like Los Angeles and Miami.

Terreno Realty Corporation (NYSE:TRNO) has successfully acquired an industrial property located in San Jose, California, for approximately $8.0 million on April 21, 2021. The 2.2-acre site at 560 East Gish Road is fully leased and offers a projected stabilized cap rate of 4.8%. This acquisition significantly enhances Terreno's portfolio, which spans six major coastal U.S. markets including Los Angeles and Miami. The strategic location, adjacent to key transport routes and the San Jose International Airport, is expected to contribute positively to future earnings.