Terreno Unveils Q1 Investments & Capital Market Activities - Analyst Blog

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Terreno Realty Corp.TRNO recently came out with its investment as well as operating and capital market activities for first-quarter 2015.

In tune with its strategy of acquiring industrial properties, this San Francisco, CA-based real estate investment trust ("REIT") purchased 5 industrial properties spanning 1.2 million square feet for approximately $151.6 million. These 5 industrial properties, comprising 11 buildings in total, are located in Florida, Washington, D.C., Maryland and California.

Notably, Terreno Realty has around $73.3 million of acquisitions under contract and $6.8 million under letter of intent. Further, the company has 2 properties under contract for sale, valued at roughly $24.6 million. These are, however, subject to due diligence and satisfaction of certain closing conditions.

As a matter of fact, Terreno Realty is engaged in acquiring, owning and operating 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./Baltimore. The company enjoyed ownership of a total of 137 buildings spanning around 10.4 million square feet as of Mar 31, 2015. These properties are currently leased 92% to 315 tenants. Same-store portfolio was 94.1% leased as of Mar 31, 2015 as against 93% as of Mar 31, 2014.

As regards the capital market activities in first-quarter 2015, Terreno Realty did not issue any shares under its at-the-market equity offering program.

Terreno Realty currently carries a Zacks Rank #3 (Hold). Investors interested in REITs may consider stocks like Prologis, Inc. PLD , SL Green Realty Corp. SLG and Whitestone REIT WSR . All these stocks carry a Zacks Rank #2 (Buy).

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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.

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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