Industrial real estate investment trust (REIT) Terreno Realty Corporation (TRNO - Free Report) announced the acquisition of an industrial property in Washington, D.C. on May 10. The 22,000-square-foot property, spanning over 0.7 acres, was purchased for approximately $3.7 million.
The property, which is presently vacant, includes four dock-high and one grade-level loading positions, and parking facility for 11 cars. The property is in close proximity to the company’s V Street Gateway Business Park and is located at 920 V Street NE, one block from New York Avenue/Route 50 in the northeastern section of the District of Columbia.
In fact, a day ago, Terreno had announced that it acquired six adjacent properties located in Carlstadt, NJ on May 10. The properties spanning over 8.1 acres was purchased for approximately $12 million. (Read more: Terreno Acquires Properties in New Jersey for $12M).
The latest acquisition is expected to boost Terreno Realty’s bottom line, going forward. 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 15.8%, whereas the industry edged down 0.3%. Also, in the last seven days, both its second-quarter and full-year 2017 funds from operations (FFO) per share estimates moved up.
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.
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Industrial real estate investment trust (REIT) Terreno Realty Corporation (TRNO - Free Report) announced the acquisition of an industrial property in Washington, D.C. on May 10. The 22,000-square-foot property, spanning over 0.7 acres, was purchased for approximately $3.7 million.
The property, which is presently vacant, includes four dock-high and one grade-level loading positions, and parking facility for 11 cars. The property is in close proximity to the company’s V Street Gateway Business Park and is located at 920 V Street NE, one block from New York Avenue/Route 50 in the northeastern section of the District of Columbia.
In fact, a day ago, Terreno had announced that it acquired six adjacent properties located in Carlstadt, NJ on May 10. The properties spanning over 8.1 acres was purchased for approximately $12 million. (Read more: Terreno Acquires Properties in New Jersey for $12M).
The latest acquisition is expected to boost Terreno Realty’s bottom line, going forward. 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 15.8%, whereas the industry edged down 0.3%. Also, in the last seven days, both its second-quarter and full-year 2017 funds from operations (FFO) per share estimates moved up.
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.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
Zacks 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.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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