Terreno Realty Corporation (TRNO) recently announced it has pre-leased 50% of Countyline Corporate Park Phase IV Building 32 in Hialeah, FL. The pre-leasing reflects the solid demand for the company’s properties.The lease will run for 10 years with an aircraft engine maintenance, repair and overhaul provider and encompass 82,000 square feet of space. It will start upon the completion of building construction and tenant improvements expected to be in June 2025. Countyline Corporate Park Phase IV comprises a ...

Terreno Realty (TRNO) has announced the shelling of $156.3 million for the acquisition of industrial property in Red Hook, Brooklyn, NY. Included in the above acquisition price is a $72.9 million, 3.85% interest-only loan, set to mature in March 2028. The transaction marks an estimated stabilized cap rate of 4.8% and it comes after the recent purchase of a property in Long Island City Queens, NY, for around $7.6 million with an estimated stabilized cap rate of 5.7%.The Brooklyn property under consideration ...

If you like to see more ideas, please subscribe to the premium service "Value in Corporate Events" here and try the free trial. In this service we cover major earnings events, M&A, IPOs and other significant corporate events with actionable ideas. Furthermore, we provide coverage of situations and names on request!Early in the summer, I believed that Terreno Realty (NYSE: TRNO ) was focusing on nominal growth over per share growth. Such a strategy, makes reported growth look good but does not necessarily pa ...

Terreno Realty (TRNO) recently announced the execution of a lease for 82,000 square feet in Avenel, New Jersey. This lease with a leading national wholesale tire distributor will commence on Dec. 31, 2024, and is slated for expiry in January 2030.This real estate investment trust (REIT), which acquires, owns and operates industrial real estate in six major coastal U.S. markets, has been experiencing healthy demand for its properties from both existing and new tenants. On Nov. 7, 2024, the company announced ...

Table of Contents _________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ Form 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ | --- | --- | |----------------------------- ...

Overview of the Recent Transaction On September 30, 2024, FMR LLC (Trades, Portfolio), a prominent investment firm, expanded its holdings in Terreno Realty Corp (TRNO, Financial) by acquiring an additional 1,460,862 shares. This transaction, excecuted at a price of $66.83 per share, increased FMR LLC (Trades, Portfolio)'s total stake in the company to 10,563,453 shares, reflecting a significant commitment to TRNO within its diverse portfolio. Founded in 1946 by Edward C. Johnson II, FMR LLC (Trades, Portlol ...

Terreno Realty Corporation (TRNO) recently announced the completion of the development and stabilization of Countyline Corporate Park Phase IV Building 39 in Hialeah, FL, effective Sept. 30, 2024. This building has been 100% leased to one tenant. Building 39, with a 36-foot clear height, is located in Terreno Realty's Countyline Corporate Park. This 178,000-square-foot industrial distribution building is placed on 10.9 acres of land. It includes 58 dock-high and two grade-level loading positions, as well as ...

leolintang/iStock via Getty Images Terreno Realty Corporation (NYSE:TRNO) operates within an attractive industrial property sector through investing in: · warehouse/distribution facilities · light industrial properties · R&D facilities · transshipment properties · improved land For those unacquainted with TRNO, the Company targets infill locations with a high concentration of already developed land and buildings) within six coastal US markets. The following table summarizes by type our investments in real e ...

Core Viewpoint - Terreno Realty Corporation has slightly outperformed the Vanguard Real Estate Index Fund ETF in 2024, with a total return of approximately 12% compared to the ETF's 10% gain, driven by elevated valuation metrics and potential for above-average net operating income growth [2] Company Overview - Terreno Realty focuses on industrial real estate, with warehouse and distribution properties accounting for 71.5% of annualized base rent (ABR), followed by improved land at 12.2% and transshipment properties at 6.5% [3] - The company operates in six real estate markets, with Northern New Jersey/New York City representing the largest exposure at 25.2% of ABR, followed by the San Francisco Bay Area at 19.2% [3] Operational Overview - In Q2 2024, Terreno Realty reported a funds from operations (FFO) of $0.61 per share, an 11% year-over-year increase, attributed to a 9% increase in same-store net operating income and a larger portfolio [5] - Occupancy rates stood at 96.2%, down 1.6% year-over-year, while leasing spreads showed a significant increase, with new and renewed leases reflecting 45.9% higher rents [7] Financial Highlights - The company ended Q2 2024 with a net debt of $590 million, representing only 8% of its $7.3 billion enterprise value, with 25.8% of the debt being floating rate [8] - The weighted average interest cost of the debt was 4% at the end of Q2 2024, which has slightly increased following the repayment of a $100 million term loan [9] Valuation and Prospects - Terreno Realty's current FFO multiple stands at 27.6x, one of the highest valuations for a commercial REIT, with a market-implied cap rate of around 3.64%, indicating a low valuation relative to cash flow [11][9] - The company is expected to continue experiencing net operating income growth, currently at 9% year-over-year, although this is a decrease from the previous year's pace of 14.5% [12] Conclusion - Despite strong FFO and NOI growth reported in Q2 2024, the elevated valuation metrics suggest that these growth figures are already priced into the shares, leading to a recommendation of a Hold rating [16][18]

Last Monday,Terreno Realty Corporation (TRNO) announced the execution of an early lease renewal in Sunnyvale, CA, with a leading provider of molecular diagnostic testing. This reflects the healthy demand for its properties from existing tenants. The 172,000-square-foot lease of three buildings, originally set to expire in March 2025, has been extended until March 2030. The demand for industrial real estate space has been high amid an e-commerce boom, growth in industries and companies making efforts to impr ...