Terreno Realty

TRNO

Market cap $6.94B

Thirty-three US REITs utilized their at-the-market (ATM) offering programs during the recent quarter, raising $4.15 billion in aggregate proceeds. Healthcare REIT Welltower Inc. raised the most capital during the first quarter, selling nearly 7.7 million shares of common stock through its ATM program for $1.56 billion in gross proceeds. In the aggregate, healthcare REITs raised $2.67 billion through their ATM programs during the first quarter, the most of any property sector. The data center REIT sector was next with $875.0 million.

Terreno Realty Corporation (TRNO) is rated a Buy with a $70 price target, supported by strong Q1 2026 earnings and a robust development pipeline. TRNO's infill, supply-constrained coastal market focus underpins high occupancy (96.3%) and resilient same-store NOI growth, reinforcing its structural competitive advantage. The REIT maintains a conservative balance sheet (net debt/EBITDA 2.5x) and consistent dividend growth (11.6% CAGR since 2011), with a well-covered 3.17% forward yield.

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Declares Quarterly Dividend and Files First Quarter 2026 Financial Statements.

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Announces Lease in Hayward, CA.

TRNO's April 2026 D.C. renewals and Supreme Court lease, plus a fully leased Florida build, underscore its leasing momentum.

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Announces Lease in Washington, D.C.

TRNO completes property development of Building 34 in Hialeah. It is fully leased and targets LEED certification, advancing its strategy to upgrade property quality.

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Announces Development Completion in Hialeah, FL.

U.S. equity markets extended their rebound this week as investors welcomed tentative progress toward de-escalation in the Middle East following several days of dramatic threats of significant escalation. The fragile pause in hostilities temporarily eased fears of a prolonged disruption to global energy supplies and fueled a sharp retreat in oil prices after a surge to four-year highs. Markets also found support from lukewarm inflation data and signs that the U.S. labor market continues to demonstrate resilience despite elevated energy costs and geopolitical uncertainty.

TRNO sells a fully leased Torrance industrial property for $31.1M, securing a 10.3% IRR as it continues strategic portfolio optimization efforts.