Terreno Realty Stock Price, News & Analysis

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.

Terreno Realty Corporation (NYSE:TRNO) announced the lease renewal of 231,000 square feet in Gardena, California, with an omnichannel home goods retailer. The lease will be effective from September 1, 2022, to August 31, 2025. Terreno specializes in acquiring, owning, and operating industrial real estate in major coastal U.S. markets including Los Angeles, New York City, and Miami. The company is focused on expanding its footprint in industrial real estate, highlighting the ongoing demand in the sector despite broader economic uncertainties.

Terreno Realty Corporation (NYSE:TRNO) has announced the income tax treatment of its 2021 dividend distributions, totaling $1.28 per share. This includes one distribution from 2020, three from 2021, and part of one for 2022. Key dates include a record date of December 15, 2020, with payments distributed between January 5 and July 14, 2021. Only approximately $0.02 of the November 2, 2021 distribution will count as income for 2021 tax purposes. Investors can find more details on the company's website.