Terreno Realty Sells Industrial Property in Union City

Terreno Realty Corporation TRNO announced the disposition of a vacant industrial distribution building encompassing around 66,000 square feet on 3.0 acres of land in Union City, CA.  The sale was carried out for around $16.9 million on Jan. 7, 2025.The move is part of the company’s financing strategy, through which it aims to maintain financial flexibility to facilitate long-term growth. Terreno Realty purchased the property on March. 26, 2015 for $7.4 million. The investment yielded an unleveraged internal rate of 13% to the company.Tereno in a SnapshotTerreno Realty’s dispositions are an integral part of its ongoing efforts to optimize its portfolio and enhance its financial performance. During the fourth quarter of 2024, the company disposed of three 112,000-square-foot industrial buildings for approximately $33.6 million and one 5.7-acres improved land parcel in Newark, NJ, for approximately $29.8 million.Moreover, the company remains focused on expanding its asset base in the six major coastal U.S. markets — Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, DC — as demand for industrial real estate space remains buoyant.With a solid operating platform, a healthy balance sheet position and prudent capital management practices, TRNO seems well-positioned to capitalize on long-term growth opportunities amid favorable industry fundamentals. With advantageous locations, its buildings are expected to lure tenants and enjoy high occupancy.Analysts seem bullish on this Zacks Rank #2 (Buy) company. The Zacks Consensus Estimate for its 2025 funds from operations (FFO) per share has been raised marginally to $2.67 in the past week.Shares of the company have declined 7.5% in the past three months compared with the industry’s fall of 10.3%.Image Source: Zacks Investment ResearchOther Stocks to ConsiderSome other top-ranked stocks from the broader REIT sector are Cousins Properties CUZ and OUTFRONT Media OUT, each carrying Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Cousins Properties’ 2024 FFO per share has moved marginally upward in the past two months to $2.68.The consensus estimate for OUTFRONT Media’s 2024 FFO per share has increased by 1.8% over the past two months to $1.73.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Cousins Properties Incorporated (CUZ): Free Stock Analysis Report Terreno Realty Corporation (TRNO): Free Stock Analysis Report OUTFRONT Media Inc. (OUT): 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