Terreno Realty (TRNO) - Hoya Hotseat

Hoya Capital

Terreno Realty (TRNO) - Hoya Hotseat In the News All TRNO Jan 15 Written By Alex Pettee, CFA Hoya Capital Terreno Realty (NYSE: TRNO) is the fifth-largest Industrial REIT, owning over 18 million square feet of distribution centers and warehouses across six high-density coastal markets: NYC, San Francisco, L.A., Miami, DC, and Seattle. TRNO’s portfolio of nearly 300 individual properties is comprised of a mix of core and value-add investments, focusing recent acquisitions on functional and flexible assets that are suitable for multiple tenants.

CFO Jamie Cannon joins the Hoya Hotseat to discuss the company's backstory with roots at AMB/Prologis, the factors and strategy behind TRNO’s impressive outperformance since its 2010 IPO, recent supply headwinds on industrial fundamentals, and the long-term outlook for well-located distribution space. TRNO Quick Facts: 🎂IPO Date: 2010 📈 Market Cap: $5.3B (Small-Cap 600) 💸 Dividend Yield: 3.30% (📅Quarterly) 🏦 Debt/EV Ratio: 13% 💳 Fitch Credit Rating: BBB+ Continue reading ▶︎ Interviews Press All Hoya Hotseat TRNO Alex Pettee, CFA Transcript train is an industrial re I we acquire own and operate industrial real estate in six markets Seattle San Francisco LA New York New Jersey Washington DC and Miami we believe these six markets are the best in the country with both excellent demand drivers limited new Supply to Geographic or public uh political constraints in fact our portfolio is most closely located to the population versus any of our peers uh we target traditional warehouse distribution facilities improved land which is land that is fully paved fence and lit trans shipment facilities and a small amount of flex and R&D facilities we target the best most functional Assets in each of these submarkets uh that are functional with appropriate Tre courts clear Heights Ingress egress access to freeways and importantly have the broadest and de deepest tenant demand in each in each submarket we went public in 2010 so we're now approaching 15 years ...