TRNO on a Selling Spree: Disposes of Another Asset in California

Core Insights - Terreno Realty Corporation (TRNO) has executed the sale of an industrial property in Santa Fe Springs, CA for approximately $11 million, emphasizing its strategy of divesting non-core assets to strengthen its portfolio for future growth [1][8] - The sold property, a 2.3-acre improved land parcel, was fully leased and had been acquired in 2018 for $6.4 million, yielding a 13.2% unleveraged internal rate of return [2][8] - The company has been actively optimizing its portfolio, as evidenced by a recent sale of a 2.1-acre industrial property in Tukwila, WA for $9.5 million, and a portfolio of six industrial properties in Doral, FL for approximately $23.7 million [2][3] Financial Performance - Terreno Realty declared a dividend of 52 cents per share for Q3 2025, reflecting a 6.1% increase from the previous dividend level, and has increased its dividend six times over the past five years, with a five-year annualized growth rate of 14.11% [4][8] - Despite the positive dividend growth, shares of Terreno Realty have decreased by 6.9% over the past month, contrasting with a 2.5% decline in the broader industry [5] Market Position - The company is currently ranked 2 (Buy) by Zacks, indicating a favorable outlook compared to other stocks in the REIT sector [5][6]