Terreno Realty Concludes Redevelopment in Rancho Dominguez

Terreno Realty Corporation TRNO recently announced the completion of the redevelopment of its 2.8-acre improved land parcel in Rancho Dominguez, CA. This property has been fully leased on a short-term basis to a trucking and transloading provider for 18 months.The redeveloped property is located adjacent to two of Terreno Realty’s improved land parcels on S. Maple Avenue and between Los Angeles International Airport and the Ports of Los Angeles and Long Beach.The redevelopment was completed at a cost of approximately $28.3 million and boasts a stabilized cap rate of approximately 2.3%.TRNO: In a NutshellWith a solid operating platform, a healthy balance sheet position and strategic expansion moves, TRNO seems well-positioned to capitalize on long-term growth opportunities amid favorable industry fundamentals. However, the elevated supply of industrial real estate and broader market issues are key concerns.Shares of this Zacks Rank #3 (Hold) company have increased 0.7% in the past six months compared with the industry’s 4% growth. Image Source: Zacks Investment Research Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are SL Green Realty SLG and Vornado Realty Trust VNO, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for SL Green’s 2024 FFO per share has been raised 2.9% over the past month to $7.83.The Zacks Consensus Estimate for Vorndo’s current-year FFO per share has moved a cent northward over the past two months to $2.16.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vornado Realty Trust (VNO): Free Stock Analysis Report SL Green Realty Corporation (SLG): Free Stock Analysis Report Terreno Realty Corporation (TRNO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks