Terreno Realty Acquired Four Industries Properties In Q1

Terreno Realty Corporation TRNO revealed it acquired four industrial properties that consisted of three buildings having 125,000 square feet for $27.0 million in the first quarter.

Terreno Realty indicated that has about $31.5 million of acquisitions under contract. According to the company, there was no assurance that the company will acquire the properties under contract since the proposed acquisitions are subject to the closing conditions.

The company indicated it has also divested two industrial properties in the first quarter for an aggregate sale price of about $16.4 million. The realty firm said that capital from such sales was recycled into properties so as to provide better prospective returns to its shareholders.

Terreno Realty said it also issued about 50,968 shares with an average price of $23.52 a share and received gross proceeds of about $1.2 million. The company clarified that it did not make any repurchase of its shares in the first quarter.

On Tuesday, shares of the company traded down by 0.18 percent.