TERRENO REALTY DL -,01

Terreno Realty Corporation has acquired an industrial property in Redmond, Washington, for approximately $8.0 million. The 21,000-square-foot logistics building on a 1.5-acre site adjoins an existing Terreno property, has five at-grade loading docks, 56 parking spaces and is currently vacant. The company is projecting a stabilized capitalization rate of 5.9%. » More on de.investing.com

Terreno Realty acquired an industrial and distribution building at 20701 Manhattan Place in Torrance with about 36,000 square feet on a 1.7-acre lot for approximately $14.7 million. The property has six loading docks, two grade-level loading bays and 87 parking spaces and is currently leased to one tenant through November 30, 2026. From December 1, 2026 the space is fully leased to a manufacturer of floating sensors for autonomous maritime drones; the new lease runs through February 2030. Terreno estimates the stabilized initial capitalization rate of the property at 6.0%. » More on de.investing.com

Shares of Terreno Realty climbed to a 52-week high of $70.81 and are currently trading at $70.77, about 1% below the peak. Over the past year the stock rose 23.71%; the company has paid dividends for 16 years and currently offers a yield of around 3%. At quarter-end the occupancy rate was 97.6%; in Q2 Terreno acquired four properties (approximately 518,000 sqft) for $172.3 million, including a property in Hialeah Gardens for $56.3 million, and year-to-date acquisitions total $274.1 million. Analysts are divided: Citizens and KeyBanc rate it positively (Market Outperform/Overweight, KeyBanc price target $72), while Raymond James rates it Underperform; a fair-value analysis points to a slight overvaluation. » More on de.investing.com