Terreno Realty Announces Lease Renewal in WA, Sees Healthy Demand

Terreno Realty TRNO recently announced the execution of a lease renewal for 53,000 square feet with the United States Postal Service in Washington, D.C. The renewal lease will commence on June 1, 2025, and is slated for expiry in June 2030.Apart from this renewal lease, on May 12, 2025, the company announced the execution of a 70,000-square-foot new lease in Woodinville, WA, set to begin on June 30, 2025 and expire in November 2030. The lessee of the agreement is a designer and manufacturer of camera movement systems and stabilizers for unmanned aerial cinematography and remote-controlled vehicles.This real estate investment trust (REIT), which acquires, owns and operates industrial real estate in six major coastal U.S. markets, has been experiencing healthy demand for its properties from both existing and new tenants.Q1 2025 Leasing Details of TRNOTRNO’s operating portfolio was 96.6% leased to 663 tenants as of March 31, 2025. Its same-store portfolio of 15.6 million square feet was 97.4% leased on March 31, 2025. For the company’s improved land portfolio of 47 parcels spanning 150.6 acres, the leased rate was 95.1% as of March 31, 2025.Terreno Realty was able to lock in higher rents on new and renewed leases during the quarter. The cash rents on new and renewed leases commencing during the first quarter of 2025 climbed 34.2%. Moreover, the tenant retention ratio was 71.7% for the operating portfolio.TRNO: In a NutshellWith a solid operating platform, a healthy balance sheet position and strategic expansion moves, TRNO seems well-positioned to capitalize on long-term growth opportunities amid favorable industry fundamentals.In the past month, shares of this Zacks Rank #3 (Hold) company have gained 2% compared with the industry’s growth of 2.9%.Image Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks from the broader REIT sector are VICI Properties VICI and W.P. Carey WPC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for VICI’s 2025 FFO per share is pinned at $2.34, suggesting year-over-year growth of 3.5%.The Zacks Consensus Estimate for WPC’s 2025 FFO per share stands at $4.88, indicating an increase of 3.8% from the year-ago reported figure.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Terreno Realty Corporation (TRNO): Free Stock Analysis Report W.P. Carey Inc. (WPC): Free Stock Analysis Report VICI Properties Inc. (VICI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks