Terreno Realty Q3 Developments: Attained 98.3% Occupancy, No Debt Maturities In 2023 & More
Portfolio Pulse from Lekha Gupta
Terreno Realty Corp (TRNO) reported major Q3 FY23 developments, including 98.3% occupancy, a 38.9% increase in cash rents, and no debt maturities in 2023. The company acquired a property in Santa Ana for $14.8 million and sold a property in Maryland for $18 million. It also issued common shares at an average price of $60.78 per share, raising $95.7 million.
October 10, 2023 | 3:13 pm
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POSITIVE IMPACT
Terreno Realty's Q3 FY23 report shows strong occupancy rates and increased cash rents, indicating a healthy financial status. The company's successful acquisitions, property sales, and equity offering further strengthen its position.
Terreno Realty's high occupancy rates and increased cash rents suggest strong demand for its properties, which is positive for its revenues. The successful acquisition and sale of properties indicate effective asset management. The equity offering has bolstered its financial position, reducing reliance on debt. These factors are likely to have a positive impact on TRNO's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100