Core Viewpoint - Terreno Realty Corporation has executed an early lease renewal with the United States Secret Service for 107,000 square feet in Washington, D.C., indicating strong demand for industrial real estate in key U.S. markets [1]. Company Overview - Terreno Realty Corporation is involved in the acquisition, ownership, and operation of industrial real estate across six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. [2]. Lease Details - The lease with the United States Secret Service will commence on February 13, 2026, and will expire in February 2029, reflecting a long-term commitment to the property [1].

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, ...

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Acquires Property in Hyattsville, MD for $50.0 Million. ...

Group 1 - Leverage can be beneficial for a growing company, allowing for higher cash flows to common shareholders and potentially resulting in higher total returns in the long term [1] - The company has shifted its investment strategy over the years, initially focusing on REITs, preferred stocks, and high-yield bonds, and more recently combining long stock positions with covered calls and cash secured puts [1] Group 2 - The company approaches investing from a fundamental long-term perspective, primarily covering REITs and financials, with occasional articles on ETFs and other stocks driven by macro trade ideas [1]

Key Takeaways Terreno Realty is developing a 220,000-sq-ft building at Countyline Corporate Park Phase IV.The project targets a 6% stabilized cap rate and supports cash-flow growth in a key market.Past Countyline deliveries have leased well, aided by Miami's tight industrial availability.Terreno Realty (TRNO) is pushing ahead with another phase of growth in South Florida, starting the development of Building 35 at Countyline Corporate Park Phase IV in Hialeah. The 220,000-square-foot industrial distribution ...

Core Insights - Terreno Realty Corp. is a real estate investment trust focused on acquiring, owning, and operating industrial real estate in six major coastal U.S. markets [1] - The company reported Q3 2025 earnings with an EPS of $0.67 and revenues of $116.25 million, surpassing consensus estimates [4] Financial Performance - For Q4 2025, analysts expect Terreno Realty to post an EPS of $0.59, a decrease from $0.62 in the prior-year period, while quarterly revenue is anticipated to be $120.58 million, an increase from $103.71 million a year earlier [2] - The stock price has fluctuated between $48.18 and $69.20 over the past 52 weeks, and the company has a dividend yield of 3.36%, having paid $2.08 per share in dividends over the last 12 months [3] Investment Considerations - To earn $100 per month from dividends, an investment of approximately $35,714 is required, based on the current dividend yield of 3.36% [5] - The dividend yield can change over time due to fluctuations in stock prices and dividend payments [6]

Core Insights - The holiday shopping season is beginning, with significant opportunities for retailers and investors as consumer demand increases during this period [1] REITs as Investment Opportunities - REITs are becoming attractive due to improving rate-cut expectations and easing market volatility, providing steady cash flows and long-term lease structures that mitigate near-term uncertainties [2] - Digital Realty Trust, Inc. (DLR), Federal Realty Investment Trust (FRT), and Terreno Realty Corporation (TRNO) are highlighted as strong candidates for investment due to their solid fundamentals and potential for market outperformance [2][6] Retail Real Estate Performance - Retail-focused real estate is showing resilience as retailers optimize their physical presence, with established trade area properties attracting brands that prioritize in-person engagement [3] - Limited new supply in the market is benefiting landlords through stable occupancy and reliable rent collections [3] Industrial Real Estate Trends - Industrial real estate remains robust as businesses refine logistics strategies, with tenants seeking spaces that accommodate automation and efficient inventory management [4] - A slight increase in vacancy rates is noted due to new project completions, but fewer developments are starting, which is expected to support healthier fundamentals and sustainable rent growth [4] Data Center Sector Growth - The data center sector is experiencing significant demand driven by cloud services, AI, and connectivity needs, outpacing the speed of new capacity delivery [5] - Limited power availability and long construction timelines are enhancing rental economics, making data center properties attractive for long-term growth [5] Company-Specific Highlights - Digital Realty is positioned for growth with a strong revenue and FFO momentum, benefiting from demand across hyperscale, AI, and enterprise customers [7] - The Zacks Consensus Estimate for Digital Realty's current-year FFO per share has increased by 4 cents to $7.35, indicating a 9.54% year-over-year growth [8] - Federal Realty showcases consistent leasing strength and high-quality open-air centers, reporting record leasing activity and a 28% cash rent spread [9][11] - The Zacks Consensus Estimate for Federal Realty's current-year FFO per share has risen by 2 cents to $7.23, suggesting a 6.8% year-over-year increase [12] - Terreno Realty focuses on industrial properties in six major coastal U.S. markets, reporting a cash rent growth of 17.2% in the third quarter of 2025 [10][13] - The Zacks Consensus Estimate for Terreno Realty's current-year FFO per share has improved by 4.6% to $2.71, indicating a 12% year-over-year increase [14]

Core Insights - Terreno Realty Corporation (TRNO) has announced the pre-leasing of 76,000 square feet in Countyline Corporate Park, Phase IV, Building 36, with the lease commencing in Q1 2027 and expiring in July 2037 [1] - An existing lease with an international logistics management company has been expanded by 29,000 square feet, bringing Building 36 to 100% leased status, indicating strong demand for industrial assets [2] - The Countyline Corporate Park Phase IV project spans 121 acres and will feature 2.2 million square feet of industrial distribution buildings, with an investment volume of approximately $511.5 million [3] Leasing Performance - As of September 30, 2025, TRNO's operating portfolio was 96.2% leased, with the same-store portfolio at 98.6% leased [4] - The leased rate for the improved land portfolio of 44 parcels was 93.1% as of the same date [4] - Cash rents on new and renewed leases during Q3 2025 increased by 17.2%, with a tenant retention ratio of 68.7% for the operating portfolio [5] Strategic Positioning - TRNO is well-positioned for long-term growth opportunities due to its solid operating platform, healthy balance sheet, and strategic expansion moves, despite macroeconomic uncertainties [6] - The company has experienced a 7.1% share price increase over the past three months, outperforming the industry average of 0.2% [7] Project Momentum - The completion of Building 36 aligns with TRNO's 2027 project timeline and enhances the momentum of Phase IV [8]

Core Viewpoint - Terreno Realty Corporation has acquired a property in Queens, NY for $4.7 million, indicating the company's continued investment strategy in key urban markets [1] Group 1: Acquisition Details - The property acquired is located in Queens, New York, which is a strategic area for real estate investment [1] - The acquisition price for the property is reported to be $4.7 million, reflecting the company's commitment to expanding its portfolio in urban locations [1] Group 2: Company Strategy - This acquisition aligns with Terreno Realty Corporation's strategy to invest in properties that are well-positioned for growth in metropolitan areas [1] - The company continues to focus on enhancing its real estate holdings, which may provide potential for future revenue growth [1]

Real Estate Portfolio - As of September 30, 2025, Terreno Realty Corporation owned a total of 307 buildings and 44 improved land parcels, aggregating approximately 20.2 million square feet[97] - The company owns 307 buildings across various markets, with a total rentable square footage of 20,152,313 square feet[101] - The occupancy rates for buildings and improved land parcels were approximately 96.2% and 93.6%, respectively, leased to 676 customers[97] - The overall occupancy rate for the real estate portfolio was 96.2% as of September 30, 2025[101] - The improved land parcels total 136.9 acres, with an annualized base rent of $40,121,000, accounting for 10.1% of total annualized rent[106] - The company has six properties under development or redevelopment and approximately 10.7 acres of land for future development[97] Financial Performance - Total revenues increased by approximately $16.6 million to $116.2 million for the three months ended September 30, 2025, representing a 16.7% increase compared to the same period in 2024[131] - Total rental revenues rose by 17.2% to $92.3 million, driven by a 5.1% increase in same store rental revenues and a 63.0% increase in non-same store operating properties[130] - Net income surged by 182.1% to $103.4 million for the three months ended September 30, 2025, compared to $36.6 million in the prior year[130] - For the nine months ended September 30, 2025, total revenues increased by approximately $60.0 million to $338.9 million, a 21.5% increase year-over-year[140] - Total net operating income for the nine months ended September 30, 2025, increased by 21.7% to $254.0 million, driven by both same store and non-same store properties[139] Rental Income - The company’s annualized base rent as of September 30, 2025, was $350.5 million, with warehouse/distribution properties contributing 80.4% of this total[99] - The annualized base rent from improved land was $35,081,000, with a total occupancy rate of 93.6%[101] - The annualized base rent from flex properties was $11.8 million, representing 3.4% of the total[99] - The total annualized base rent for all buildings and improved land parcels is projected to be $397,168,000 as of September 30, 2025[107] - The annualized base rent for the operating portfolio increased to $29,627,000 for the nine months ended September 30, 2025, from $26,287,000 in 2024[103] Development and Acquisitions - The company has six properties under development, expected to total approximately 0.9 million square feet upon completion[101] - The company acquired two industrial properties and one portfolio for a total purchase price of approximately $472.6 million during the three months ended September 30, 2025[110] - The company executed a non-binding letter of intent to acquire an industrial property for approximately $11.4 million, indicating ongoing market expansion efforts[169] Expenses and Costs - Total property operating expenses increased by approximately $2.6 million to $28.2 million, primarily due to property acquisitions and increased real estate taxes[132] - General and administrative expenses rose by approximately $3.8 million to $35.7 million for the nine months ended September 30, 2025, primarily due to increased compensation expenses[143] - Interest expense increased by approximately $7.7 million to $(23.3) million for the nine months ended September 30, 2025, attributed to higher outstanding debt[139] Debt and Financing - Total debt increased to $1,022.9 million as of September 30, 2025, from $672.2 million in 2024, resulting in a total debt-to-total market capitalization ratio of 14.8%, up from 9.2%[159] - The Amended Facility consists of a $600.0 million revolving credit facility and $200.0 million in term loans, with $280.0 million and $200.0 million of borrowings outstanding, respectively, as of September 30, 2025[153] - The weighted average interest rate for the company's total debt was 4.2% as of September 30, 2025[158] - Floating rate debt as a percentage of total debt increased to 46.9% as of September 30, 2025, compared to 29.7% in 2024, reflecting a higher exposure to interest rate fluctuations[159] Shareholder Returns - A cash dividend of $0.52 per share was declared on November 4, 2025, payable on January 9, 2026[119] - The company paid dividends of $0.49 per share for the first two quarters of 2025 and $0.52 per share for the third quarter, reflecting a consistent dividend policy[160] Risks and Compliance - Risks include potential tenant bankruptcies, increased vacancy rates, and elevated interest rates impacting financial performance[96] - The company faces risks related to compliance with laws and regulations applicable to public companies[96] - The company is exposed to interest rate risk primarily due to debt used for liquidity and capital expenditures, and plans to manage this risk through interest rate caps and swap agreements[185]