Quarterly ResultMay 6, 2026, 04:09 PM
Terreno Realty Q1 Net Income +44.3% to $69.4M; EPS $0.66
AI Summary
Terreno Realty Corporation reported strong first-quarter 2026 results, with net income increasing 44.3% to $69.4 million and basic EPS rising 37.5% to $0.66. Total revenues grew 12.7% to $124.4 million, significantly boosted by a 129.8% increase in gains from real estate sales. The company was active in property acquisitions and development, while also managing its debt structure by repaying its credit facility and securing a new $200 million term loan.
Key Highlights
- Net income increased 44.3% to $69.4 million for Q1 2026, up from $48.1 million in Q1 2025.
- Basic earnings per common share rose 37.5% to $0.66 in Q1 2026, compared to $0.48 in Q1 2025.
- Total revenues grew 12.7% to $124.4 million in Q1 2026, up from $110.4 million in Q1 2025.
- Gain on sales of real estate investments surged 129.8% to $27.2 million in Q1 2026.
- Acquired two industrial properties for approximately $103.2 million during Q1 2026.
- Completed development of one property, Countyline Building 32, for $43.4 million in Q1 2026.
- Secured a new $200.0 million term loan maturing in January 2031 and repaid the $200.0 million credit facility.
- Paid common stock dividends of $0.52 per share in Q1 2026.