Terreno Realty Stock Price, News & Analysis

Terreno Realty Corporation (NYSE:TRNO) reported its Q1 2021 operational and financial activities. As of March 31, the company owned 228 buildings totaling 13.7 million square feet and 25 land parcels. The operating portfolio was 96.1% leased, down from 97.8% in Q4 2020. The company acquired four properties for approximately $110.1 million. Following the quarter, TRNO secured a 5.8-acre land parcel for redevelopment. Additionally, it raised $41.1 million through an equity offering, ending Q1 with $29 million in cash and no debt maturities for 2021.

Terreno Realty Corporation (NYSE: TRNO) has acquired a 5.8-acre industrial property in Miami, Florida, for approximately $5.8 million. Located near major transport hubs, the vacant site will be redeveloped into two LEED-certified industrial distribution buildings totaling around 129,000 square feet. The redevelopment is expected to cost about $20 million and achieve a stabilized cap rate of 5.1%, with anticipated stabilization in Q4 2022. This acquisition reinforces Terreno's strategy in major coastal U.S. markets.

Terreno Realty Corporation (NYSE:TRNO) announced the acquisition of an industrial property in San Leandro, California, for approximately $17.6 million on March 31, 2021. This property includes three industrial distribution buildings totaling about 112,000 square feet on 7.8 acres, with 25 dock-high and 17 grade-level loading positions. It is fully leased to 13 tenants, with leases expiring by June 2023, and has an estimated stabilized cap rate of 5.6%. This acquisition strengthens Terreno's portfolio in major U.S. coastal markets.

Terreno Realty Corporation (NYSE:TRNO) announced the acquisition of an industrial property in Hialeah, Florida, for approximately $48.1 million on March 17, 2021. The property features two rear-load industrial buildings totaling 274,000 square feet on a 15.9-acre lot, equipped with 92 dock-high and four grade-level loading positions. It is fully pre-leased to five tenants, with leases commencing between March and July 2021. The estimated stabilized cap rate is 3.7%, demonstrating strong potential for cash flow and occupancy stability.

Terreno Realty Corporation (NYSE:TRNO) announced the acquisition of an industrial property in Kirkland, Washington on February 25, 2021, for approximately $33.8 million. The property spans 127,000 square feet on 7.2 acres, featuring 20 dock-high and seven grade-level loading positions along with parking for 252 cars. Currently, it is fully leased to five tenants, with leases expiring by December 2026, and an estimated stabilized cap rate of 2.9%. This acquisition expands Terreno's industrial real estate portfolio in key coastal U.S. markets.

Terreno Realty Corporation (NYSE:TRNO) has signed a lease for 94,000 square feet in Union City, California, with a biopharmaceutical company, effective May 1, 2021, and expiring July 31, 2031. The leased space is currently occupied by a logistics provider until March 31, 2021. Terreno operates industrial real estate in six major U.S. coastal markets, including Los Angeles and Miami. The press release also contains forward-looking statements which highlight potential risks related to market conditions and the impact of COVID-19 on operations.

Terreno Realty Corporation (NYSE: TRNO) announced a quarterly cash dividend of $0.29 per common share for the period ending March 31, 2021. This dividend will be payable on April 9, 2021 to stockholders recorded by the close of business on March 26, 2021. The company has also filed its annual report on Form 10-K for the year ended December 31, 2020, detailing its operations across six major coastal U.S. markets including Los Angeles and Miami.

Terreno Realty Corporation (NYSE:TRNO) has announced the income tax treatment of its 2020 distributions to common stockholders. The total dividend for 2020 is $1.03 per share, which includes three quarterly distributions from 2020 and a part from a 2019 distribution. Key details include:

• Record Dates: Various dates in 2019 and 2020.
• Payment Dates: Ranging from January 14 to October 16, 2020.
• Taxable Dividends: Breakdown includes ordinary, capital gains, and return of capital dividends.

Terreno Realty Corporation (NYSE:TRNO) has acquired a vacant industrial property in Carlstadt, New Jersey, on January 19, 2021, for approximately $10.6 million. The property spans 16,000 square feet on 4.3 acres, featuring 33 dock-high loading positions and parking for 38 vehicles. This acquisition contributes to Terreno's portfolio across six key U.S. coastal markets. The estimated stabilized cap rate for the property is 5.2%, calculated on annualized cash basis net operating income stabilized to market occupancy.