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Financial Stocks Closing Near Session Lows; Terreno Realty Acquires Industrial Distribution Building in Maryland

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Financial stocks were adding to their earlier losses with the NYSE Financial Sector Index sinking 0.6% and the S&P Financial 100 Index down nearly 0.8% shortly before the closing bell.

In company news, Terreno Realty Corp ( TRNO ) was holding on to a small gain in late Wednesday trading and the real estate investment trust today announcing its purchase of an industrial property located in Capitol Heights, Md., for $18.1 million.

The 7.7-acre property in the Washington, D.C. suburbs is located adjacent to the Capital Parkway and contains an industrial distribution building with around 139,000 square feet of floor space and is fully leased to a single tenant.

TRNO shares shares were up 0.4% at $18.94 apiece just ahead of today's close, earlier climbing to an intra-day high of $19.02 a share. The stock has a 52-week range of $16.54 to $20.27 a share, declining about 2.5% in value over that span.

In other sector news,

(+) PGR, Reports April EPS of $0.26, up $0.03 over year-ago levels. Net premiums written rise 5% year over year to $1.88 bln.

(-) RF, Nomura begins coverage with a Neutral recommendation and a price target of $11 a share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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