Terreno Realty Corporation Declares Quarterly Dividend and Files Annual 2023 Financial Statements

Rhea-AI Summary

Terreno Realty Corporation (TRNO) has declared a cash dividend of $0.45 per common share for the quarter ending March 31, 2024. The dividend will be payable on April 5, 2024, to common stockholders of record at the close of business on March 28, 2024. The company also filed its annual report on Form 10-K for the year ended December 31, 2023, with the U.S. Securities and Exchange Commission.

Insights

Financial Analyst

The declaration of a regular cash dividend by Terreno Realty Corporation is a reflection of the company's financial health and commitment to returning value to shareholders. The dividend of $0.45 per common share for the quarter ending March 31, 2024, is a direct distribution of profits to stockholders and can be indicative of the company's stable cash flow position. Investors often view consistent dividend payments as a positive signal, potentially leading to increased investor confidence and a more favorable view of the company's stock.

However, the impact of this dividend on the stock price can vary. Dividends can sometimes lead to a reduction in the company's stock price equivalent to the dividend amount on the ex-dividend date. This is a standard market adjustment to reflect the payout. The long-term effects are more complex and depend on the overall market perception of the company's growth potential versus the value of immediate cash returns to shareholders.

Market Research Analyst

Terreno Realty Corporation operates in a sector that is directly tied to economic cycles. The industrial real estate market, particularly in the coastal U.S. markets where Terreno is active, is influenced by factors such as trade flows, supply chain dynamics and e-commerce trends. The recent performance of the company, as suggested by the ability to pay dividends, could be a result of increased demand for industrial spaces driven by these factors.

Analysing the company's annual report and supplemental financial information, which are available on their website, could provide deeper insights into their occupancy rates, rental income and operational efficiency. These data points would be critical in evaluating the company's market positioning and potential for sustained growth, which is of particular interest to stakeholders and potential investors.

BELLEVUE, Wash.--(BUSINESS WIRE)-- Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, declared a regular cash dividend for the quarter ending March 31, 2024 of $0.45 per common share. The dividend will be payable on April 5, 2024 to common stockholders of record at the close of business on March 28, 2024.

Terreno Realty Corporation filed its annual report on Form 10-K for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission. The financial statements and supplemental financial information are available in the Investors & Media section of Terreno Realty Corporation’s website, www.terreno.com.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”, “seek”, “target”, “see”, “likely”, “position”, “opportunity”, “outlook” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2023 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240205972072/en/

Jaime Cannon

415-655-4580

Source: Terreno Realty Corporation

FAQ

What is the dividend amount declared by Terreno Realty Corporation for the quarter ending March 31, 2024?

Terreno Realty Corporation has declared a cash dividend of $0.45 per common share for the quarter ending March 31, 2024.

When will the dividend be payable?

The dividend will be payable on April 5, 2024, to common stockholders of record at the close of business on March 28, 2024.

Where can I find Terreno Realty Corporation's annual report for the year ended December 31, 2023?

The annual report on Form 10-K for the year ended December 31, 2023, is available in the Investors & Media section of Terreno Realty Corporation’s website, www.terreno.com.

In which U.S. markets does Terreno Realty Corporation operate?

Terreno Realty Corporation operates in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.