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Terreno (TRNO) Buys Industrial Property in Newark for $13.2M
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Industrial REIT – Terreno Realty Corporation (TRNO - Free Report) – recently announced the acquisition of an industrial property in Newark, NJ. The company shelled out $13.2 million for this purchase. The property, located at 178 Stockton Street, is currently unoccupied.
Situated adjacent to the U.S. Routes 1 and 9, the 7.2 acre improved land parcel offers easy accessibility. In fact, the property is less than one mile from I-78, Exit 14 of the New Jersey Turnpike and Newark Liberty International Airport. This is likely to drive demand for the property, which makes it a strategic buyout for Terreno Realty.
Notably, Terreno Realty is making efforts to enhance its portfolio on the back of strategic acquisitions. Most recently, the company acquired another industrial property in Newark, for approximately $16.3 million. The 10.6 acre improved land parcel is also adjacent to U.S. Routes 1 and 9, I-78 and the Newark Liberty International Airport.
These acquisitions are anticipated to bolster Terreno Realty’s bottom line, moving ahead. This San Francisco-based REIT actively focuses on leveraging the improving fundamentals of industrial markets, fortifying its business in the key coastal U.S. markets, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C./Baltimore.
Over the last three months, shares of Terreno Realty climbed 14.1%, while the Zacks categorized REIT and Equity Trust - Other industry incured a loss of 1.0%. Also, its full-year 2017 funds from operations (“FFO”) per share estimates inched up nearly 0.9% to $1.16, over the past 30 days.
Terreno Realty currently carries a Zacks Rank #3 (Hold).
Liberty Property Trust and PS Business Parks have long-term growth rates of 6% and 5%, respectively.
Whitestone REIT’s FFO per share estimates for 2017 moved up around 4.0% to $1.05, over the past 60 days.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. 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.
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Terreno (TRNO) Buys Industrial Property in Newark for $13.2M
Industrial REIT – Terreno Realty Corporation (TRNO - Free Report) – recently announced the acquisition of an industrial property in Newark, NJ. The company shelled out $13.2 million for this purchase. The property, located at 178 Stockton Street, is currently unoccupied.
Situated adjacent to the U.S. Routes 1 and 9, the 7.2 acre improved land parcel offers easy accessibility. In fact, the property is less than one mile from I-78, Exit 14 of the New Jersey Turnpike and Newark Liberty International Airport. This is likely to drive demand for the property, which makes it a strategic buyout for Terreno Realty.
Notably, Terreno Realty is making efforts to enhance its portfolio on the back of strategic acquisitions. Most recently, the company acquired another industrial property in Newark, for approximately $16.3 million. The 10.6 acre improved land parcel is also adjacent to U.S. Routes 1 and 9, I-78 and the Newark Liberty International Airport.
These acquisitions are anticipated to bolster Terreno Realty’s bottom line, moving ahead. This San Francisco-based REIT actively focuses on leveraging the improving fundamentals of industrial markets, fortifying its business in the key coastal U.S. markets, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C./Baltimore.
Over the last three months, shares of Terreno Realty climbed 14.1%, while the Zacks categorized REIT and Equity Trust - Other industry incured a loss of 1.0%. Also, its full-year 2017 funds from operations (“FFO”) per share estimates inched up nearly 0.9% to $1.16, over the past 30 days.
Terreno Realty currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Investors can also consider better-ranked stocks in the REIT space like Liberty Property Trust , PS Business Parks, Inc. and Whitestone REIT (WSR - Free Report) . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Liberty Property Trust and PS Business Parks have long-term growth rates of 6% and 5%, respectively.
Whitestone REIT’s FFO per share estimates for 2017 moved up around 4.0% to $1.05, over the past 60 days.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. 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.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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