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Terreno (TRNO) Acquires Properties in New Jersey for $12M
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Industrial real estate investment trust (REIT) Terreno Realty Corporation (TRNO - Free Report) announced the acquisition of six adjacent properties located in Carlstadt, NJ on May 10. The properties spanning over 8.1 acres was purchased for approximately $12 million.
The properties, which are fully leased to four tenants, include four transshipment facilities providing 32,700 square feet with 75 loading positions and two improved land parcels comprising 1.3 acres. The properties are in close proximity to Avenue A east of Washington Avenue (County Route 503) and are located less than two miles north of the Meadowlands Sports Complex and Exit 16W of the New Jersey Turnpike.
The latest acquisition is expected to boost Terreno Realty’s bottom line, going ahead. This San Francisco-based REIT actively focuses on leveraging the improving fundamentals of industrial markets, bolstering its business in key coastal U.S. markets like Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C./Baltimore.
Shares of Terreno Realty outperformed the Zacks categorized REIT and Equity Trust - Other industry, in the last three months. Shares of the company increased 16.1%, whereas the industry gained 0.4%. Also, in the last seven days, its current year funds from operations (FFO) estimate increased 1.8% to $1.15.
Terreno Realty currently carries a Zacks Rank # 3 (Hold).
In the last 30 days, American Tower Corporation’s FFO per share for second-quarter 2017 increased 1.3% to $1.55.
In the last 30 days, Arbor Realty Trust’s FFO per share for second-quarter 2017 remained unchanged at 19 cents.
Equity LifeStyle Properties’ second-quarter 2017 FFO per share estimates decreased 1.2% to 81 cents, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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Terreno (TRNO) Acquires Properties in New Jersey for $12M
Industrial real estate investment trust (REIT) Terreno Realty Corporation (TRNO - Free Report) announced the acquisition of six adjacent properties located in Carlstadt, NJ on May 10. The properties spanning over 8.1 acres was purchased for approximately $12 million.
The properties, which are fully leased to four tenants, include four transshipment facilities providing 32,700 square feet with 75 loading positions and two improved land parcels comprising 1.3 acres. The properties are in close proximity to Avenue A east of Washington Avenue (County Route 503) and are located less than two miles north of the Meadowlands Sports Complex and Exit 16W of the New Jersey Turnpike.
The latest acquisition is expected to boost Terreno Realty’s bottom line, going ahead. This San Francisco-based REIT actively focuses on leveraging the improving fundamentals of industrial markets, bolstering its business in key coastal U.S. markets like Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C./Baltimore.
Shares of Terreno Realty outperformed the Zacks categorized REIT and Equity Trust - Other industry, in the last three months. Shares of the company increased 16.1%, whereas the industry gained 0.4%. Also, in the last seven days, its current year funds from operations (FFO) estimate increased 1.8% to $1.15.
Terreno Realty currently carries a Zacks Rank # 3 (Hold).
Investors interested in the REIT space, may consider stocks like American Tower Corporation (AMT - Free Report) , Arbor Realty Trust, Inc. (ABR - Free Report) and Equity LifeStyle Properties, Inc. (ELS - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, American Tower Corporation’s FFO per share for second-quarter 2017 increased 1.3% to $1.55.
In the last 30 days, Arbor Realty Trust’s FFO per share for second-quarter 2017 remained unchanged at 19 cents.
Equity LifeStyle Properties’ second-quarter 2017 FFO per share estimates decreased 1.2% to 81 cents, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These are sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500. See today's Zacks "Strong Sells" absolutely free >>