Short interest for Terreno Realty gives investors a sense of the degree to which investors are betting on the decline of Terreno Realty's stock. Short interest data is updated every two weeks.

Terreno Realty Stock (NYSE:TRNO), Short Interest Report

Terreno Realty

Terreno Realty Corp is a real estate investment trust engaged in acquiring, owning, and operating industrial real estate in six coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. The company invests in several types of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development), transshipment, and improved land.

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REIT

Real Estate

TRNO

If You Invested $10K In Terreno Realty Five Years Ago, Here&#39;s How Much Your Shares Would Be Worth Today

warehouse

COLD

STAG

Election Year Triggers Investment Surge in Key Industrial REITs

Truck,And,Trailers,In,Front,Of,A,Warehouse,Loading,Dock,

2 Industrial REITs to Buy for Yield and Income in 2024

Terreno Realty Corp

WIIM

REXR

Shares of industrial REITs are trading lower after Prologis cut its 2024 FFO outlook.

News

Terreno Realty Acquires Alexandria, VA Property For $84.3M

EPRT

FCPT

IIPR

RDFN

WELL

Shares of REITs are trading lower as Treasury yields rise following March inflation data. A rise in yields has pressured income-paying stocks.

Mizuho analyst Vikram Malhotra maintains Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Neutral and raises the price target from $52 to $62.

Price Target

Analyst Ratings

Mizuho Maintains Neutral on Terreno Realty, Raises Price Target to $62

Terreno Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold an industrial property located in Seattle, Washington on March 29, 2024 for a sale price of approximately $11.0 million.
The property consists of a 25,000 square foot industrial distribution building on 1.5 acres which is 100% leased to one tenant. The property was purchased by Terreno Realty Corporation on May 6, 2016 for approximately $4.7 million. The unleveraged internal rate of return generated by the investment was 16.5%.
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.
Additional information about Terreno Realty Corporation is available on the company's web site at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.terreno.com&amp;esheet=53915213&amp;newsitemid=20240325572918&amp;lan=en-US&amp;anchor=www.terreno.com&amp;index=1&amp;md5=9a833d6cbf9adf402045df4a1e370a53">www.terreno.com</a>.

Asset Sales

Terreno Realty Corporation Sells Property In Seattle, WA For $11M

JMP Securities analyst Mitch Germain reiterates Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Market Outperform and maintains $65 price target.

Reiteration

JMP Securities Reiterates Market Outperform on Terreno Realty, Maintains $65 Price Target

Wedbush analyst Richard Anderson reiterates Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Neutral and maintains $67 price target.

Wedbush Reiterates Neutral on Terreno Realty, Maintains $67 Price Target

During the last three months, 4 analysts shared their evaluations of Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Terreno Realty and provided 12-month price targets. The average target is $69.0, accompanied by a high estimate of $73.00 and a low estimate of $66.00. This current average has increased by 6.7% from the previous average price target of $64.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1711540866_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The standing of Terreno Realty among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brendan Lynch</td>
<td>Barclays</td>
<td>Announces</td>
<td>Overweight</td>
<td>$71.00</td>
<td>-</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$73.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Greg McGinniss</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$66.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Caitlin Burrows</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$66.00</td>
<td>$60.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Terreno Realty. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Terreno Realty compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Terreno Realty's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Terreno Realty's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/TRNO/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Terreno Realty analyst ratings.</a>
<h2>All You Need to Know About Terreno Realty</h2>
Terreno Realty Corp is a real estate investment trust engaged in acquiring, owning, and operating industrial real estate in six coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. The company invests in several types of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development), transshipment, and improved land.
<h3>Financial Insights: Terreno Realty</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Terreno Realty's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 13.78% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: Terreno Realty's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 66.23%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.03%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.5%, the company showcases effective utilization of assets.
Debt Management: With a below-average debt-to-equity ratio of 0.26, Terreno Realty adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Expectations For Terreno Realty's Future

Barclays analyst Brendan Lynch initiates coverage on Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Overweight rating and announces Price Target of $71.

Initiation

Barclays Initiates Coverage On Terreno Realty with Overweight Rating, Announces Price Target of $71

General

Terreno Realty shares are trading lower after the company announced a 5 million share common stock offering.

Terreno Realty announced the pricing of its public offering of 5,500,000 shares of its common stock at a price to the public of $62.00 per share. The underwriters have been granted a 30-day option to purchase up to an
Terreno Realty announced the pricing of its public offering of 5,500,000 shares of its common stock at a price to the public of $62.00 per share. The underwriters have been granted a 30-day option to purchase up to an additional 825,000 shares of common stock. This reflects an upsizing of the previously announced offering of 5,000,000 shares of common stock. The offering is expected to close on March 27, 2024

Terreno Realty Prices Upsized Equity Offering Of 5.5M Common Shares At $62/Share

Terreno Realty Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trno#NYSE">TRNO</a>) (the "Company"), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has commenced an offering of 5,000,000 shares of its common stock. The underwriters will be granted a 30-day option to purchase up to an additional 750,000 shares of common stock.
The Company intends to use the net proceeds from the offering for future acquisitions, including the acquisition of a portfolio of industrial properties comprised of 28 buildings totaling 1,245,000 square feet located in New York City, Northern New Jersey, San Francisco Bay Area and Los Angeles and other properties that are currently subject to purchase and sale agreements or letters of intent, funding for development and redevelopment properties, and for other general corporate purposes.
Goldman Sachs &amp; Co. LLC and KeyBanc Capital Markets Inc. are serving as underwriters for the offering.

Offerings

Terreno Realty Corporation Announces Offering Of 5M Shares of Common Stock

Terreno Realty Corporation Acquires Brooklyn, NY Property For $12.0M

Piper Sandler analyst Alexander Goldfarb maintains Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Overweight and raises the price target from $70 to $73.

Piper Sandler Maintains Overweight on Terreno Realty, Raises Price Target to $73

One of the best things about buying real estate investment trusts (<a href="https://www.benzinga.com/real-estate/reit">REITs</a>) is that with the right stock, an investor can not only gain some appreciation but also procure a solid monthly or quarterly dividend for additional income.
But because not all REITs will deliver solid appreciation and dividend growth, it's important to look at a REIT's five-year history to help assess possible future returns. Take a look at one well-known REIT over the past five years, how much it's appreciated over that time and what it's generating in dividends today compared with March 2019.
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Terreno Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) is an industrial REIT that owns and operates 259 properties with 16 million square feet in six major U.S. coastal markets: Miami, Northern New Jersey/New York City, Washington D.C., Seattle, Los Angeles and San Francisco. Terreno has 580 customers as of Dec. 31. Its market cap is $5.63 billion and the 52-week range is $50.42-$65.64.&nbsp;
Terreno Realty's investment philosophy is that these markets all have large and growing populations, developed infrastructure for the rapid distribution of goods and significant physical and regulatory barriers to the development of competing properties.&nbsp;
If you had invested $10,000 in Terreno Realty five years ago in March 2019, you would have received 241.84 shares at $41.35 per share. Over the past five years, you would have collected $6.58 in dividends and the price per share would have grown to a recent closing price of $64.35.
The total return for those five years would be 71.54% or an average annual total return of 11.39%. Your starting investment of $10,000 would now be worth $17,153.76.
If, like many investors, you chose to reinvest the dividends rather than collect them, your original 241.84 shares would have grown to 271.15 shares and would now be worth $17,448.52.
Over the past five years, Terreno Realty has had no dividend cuts and has increased the quarterly dividend five times — from $0.24 per share to $0.27, $0.29, $0.34, $0.40, and in September 2023 to $0.45 per share. The annualized dividend of $1.80 presently yields 2.8%. The next dividend payment will be on April 5 to common stockholders at the close of business on March 28 and the ex-dividend date is March 27.
When compared to other industrial REITs, Terreno Realty's yield runs behind the norm. Out of 12 industrial REITs, and despite the frequent dividend increases, its dividend yield is still the third lowest. However, its annualized five-year return is the fourth highest among the 12. What it lacks in dividend yield, it makes up in appreciation. It should also be noted that its five-year average dividend growth rate of 13.4% is also the fourth best among all 12 industrial REITs.
Terreno Realty's payout ratio on its forward funds from operations (FFO) of $2.40 is still a comfortable 75%, so the dividend seems fairly stable and safe. On Feb. 7, Terreno released its fourth-quarter operating results. Funds from operations (FFO) of $0.58 beat the estimates of $0.57 and topped the fourth-quarter 2022 FFO of $0.54. Revenue of $86.48 million beat the estimates of $84.38 million and was 13.8% higher than fourth-quarter 2022 revenue of $76.01 million.&nbsp;
In recent news, on Feb. 26, Terreno announced that it has commenced construction of Countyline Corporate Park Phase IV, Buildings 32 and 33 in Hialeah, Florida. Phase IV will have a combined total of 17 industrial distribution buildings and 3.5 million square feet on 17.3 acres. The buildings are expected to be completed in 2025. The total expected investment is $79.1 million, with a stabilized cap rate of 6%.
As for analyst views, on Feb. 12, Scotiabank analyst Greg McGinniss maintained a Sector Perform on Terreno Realty and raised the price target from $64 to $66.
In summary, Terreno Realty is an industrial REIT with a strong five-year track record of appreciation and dividend growth, yet still a modest dividend yield.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
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If You Invested $10K In Terreno Realty Five Years Ago, Here's How Much Your Shares Would Be Worth Today

Industrial Real Estate Investment Trusts (REITs) like Americold Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COLD#NYSE">COLD</a>), STAG Industrial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STAG#NYSE">STAG</a>), and Terreno Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) present a compelling investment case, especially in an election year where market volatility is often expected. These companies, with their focus on industrial properties, including warehouses, distribution centers, and other logistics-related assets, are uniquely positioned to benefit from the enduring trends in e-commerce, supply chain optimization, and globalization, despite political uncertainties.
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</ul>
Americold Realty Trust, specializing in temperature-controlled warehouses with a dividend of 3%, plays a crucial role in the cold supply chain, essential for food and pharmaceutical distribution. This specialization becomes increasingly relevant as the global population grows and urbanizes, requiring efficient food distribution networks that can withstand various economic conditions, including the fluctuating political landscapes of election years.
STAG Industrial, with its single-tenant industrial properties and dividend of 4%, taps into the demand for warehouse space driven by the e-commerce boom. The company&#8217;s strategic focus on secondary markets, often overlooked by larger players, offers a unique growth trajectory and resilience against market volatility, potentially offering a stable income stream through dividends even in the tumultuous times of an election year.
Terreno Realty Corporation, with a dividend of 3%, focus on urban and infill industrial properties positions it at the heart of the rapidly evolving logistics and distribution landscape. As e-commerce continues to demand faster delivery times, Terreno&#8217;s properties in key urban areas become increasingly valuable, providing insulation against the economic fluctuations that can accompany election cycles.
Investing in these industrial REITs during an election year could be particularly strategic, given their essential role in the global supply chain and e-commerce ecosystem. The underlying real estate assets are fundamental to the operations of myriad businesses, making them less susceptible to short-term political changes. Moreover, as REITs, these companies are required to distribute at least 90% of their taxable income to shareholders, offering a potential source of steady income in the form of dividends, which can be particularly appealing during uncertain economic times.
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Image credit: Shutterstock

Industrial real estate investment trusts (REITs) own and manage income-generating industrial properties, such as warehouses, distribution centers, logistics facilities, and manufacturing plants, and generate income by leasing the properties.
Investors in industrial REITs can benefit from the demand for space in the logistics and manufacturing sectors. The growth of e-commerce and the need for efficient supply chain management have contributed to the growth of the space in recent years. Similar to other REITs, industrial REITs are required to distribute a significant portion of their income to shareholders in the form of dividends.
If you're interested in investing in industrial REITs, here are two you could buy today.
<h2 class="wp-block-heading">Terreno Realty Corporation</h2>
Terreno Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) owns and manages a portfolio of 259 industrial properties containing 16 million square feet across six major coastal U.S. markets &#8211; Seattle, the San Francisco Bay Area, Los Angeles, Miami, Washington D.C., and Northern New Jersey / New York City.
Terreno currently pays a quarterly dividend of $0.45 per share, equating to an annualized dividend of $1.80 per share and giving its stock a yield of about 2.87% at the time of this writing.&nbsp;
While its yield is not eye-popping, it's important to note that Terreno has raised its dividend at a compound annual growth rate of 12.5% since its 2011 initiation, making it a quality dividend-growth stock.
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<h2 class="wp-block-heading">LXP Industrial Trust</h2>
LXP Industrial Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LXP#NYSE">LXP</a>) owns and manages a portfolio of 110 warehouse and distribution properties containing over 52 million square feet across growth markets in the Sunbelt and Lower Midwest regions, including Phoenix, Atlanta, Memphis, Houston, Nashville, and Chicago. It's also worth noting that LXP counts Amazon as one of its largest tenants with a total of six leases.&nbsp;
LXP currently pays a quarterly dividend of $0.13 per share, equating to an annualized dividend of $0.52 per share and giving its stock a yield of about 6.03% at the time of this writing. The company has also raised its annual dividend for four consecutive years and is on pace for 2024 to mark the fifth consecutive year with an increase, making it both a high-yield and dividend-growth stock.
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Image Credit: Shutterstock

Scotiabank analyst Greg McGinniss maintains Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Sector Perform and raises the price target from $64 to $66.

Scotiabank Maintains Sector Perform on Terreno Realty, Raises Price Target to $66

Income investors looking for higher-yielding stocks have often avoided the industrial sub-sector of real estate investment trusts (REITs). While some of the industrial REITs, such as Prologis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>), Rexford Industrial Realty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REXR#NYSE">REXR</a>) and Terreno Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) have delivered strong growth to investors over the long term, the dividends of such issues have frequently yielded less than 3%.
For those seeking more income without sacrificing principal, some industrial REITs with above-average dividend yields have performed well over the last three months. Take a look at four of them.&nbsp;
Newlake Capital Partners Inc. (OTCMARKETS: NLCP) is a New Canaan, Connecticut industrial REIT with 32 properties of 1.7 million square feet across 12 states. Newlake Capital Partners specializes in triple-net leases to cannabis companies, as well as providing capital to them when necessary.&nbsp;
Newlake was founded in 2019 and had its IPO in August 2021. Its tenants include the largest companies in the cannabis industry, such as Curaleaf, Cresco Labs and Trulieve. As of Sept. 30, 2023, it had a 100% occupancy rate, with an average of 14.2 years remaining on its lease terms and 2.6% annual rent escalations.&nbsp;
Unlike most REITs, Newlake has very little debt. It has $31 million in cash and only $2 million in debt. It has been able to raise its quarterly dividend from $0.12 to $0.40 per share over the past five years. The dividend was last raised in December from $0.39 per share. The forward annual dividend of $1.60 per share yields 9.60%.
There is no new analyst coverage on Newlake. In December, Zuanic &amp; Associates analyst Pablo Zuanic initiated coverage on Newlake with an Overweight rating. And since Nov. 1, Newlake has had a total return of 35.48% to lead all industrial REITs.
Innovative Industrial Properties Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IIPR#NYSE">IIPR</a>) is a San Diego, California-based internally managed, diversified/industrial REIT that specializes in triple-net leases and lease-backs on commercial properties with cannabis companies as its sole tenants. It also creates loans for cannabis operators who require funding. It was founded in 2016 and had its IPO on Dec. 1, 2016.
As of Q3 2023, Innovative Industrial Properties owned a total of 108 properties with 8.1 million square feet across 19 states. Its average lease length for its 29 tenants is 14.9 years. 91% of its properties are industrial, 3% are retail and 6% are industrial/retail. As of November 2023, it had a 97% lease collection rate.
Innovative Industrial pays a quarterly dividend of $1.82. The annual dividend of $7.28 per share yields 7.71%.
Since November 1, Innovative Industrial's total return has been 33.89%.
However, some income investors may find these REITs to be too volatile with portfolios consisting solely of cannabis-related tenants. If that's the case, consider the next two REITs.
LXP Industrial Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LXP#NYSE">LXP</a>) is a New York-based REIT with 110 industrial properties, consisting of 53.9 million square feet. LXP had its IPO in 1993 and focuses on single-tenant warehouse/distribution properties in the Sunbelt and Midwest markets where population growth is strong. Most of its properties are less than 10 years old, with multi-purpose functionality.
Its most recent lease rate was a strong 99.2%, with Weighted Average Lease Terms (WALT) of 6.0 years and 2.6% rental escalations. Its largest tenants include Amazon, Nissan, Kellogg and Walmart. In 2023, LXP extended its $300 million in loan debt with 2025 maturity dates out to 2027.
LXP pays a quarterly dividend of $0.13 per share. The $0.52 annual dividend yields 5.67%.
Since Nov. 1, 2023, LXP has had a total return of 17.57%.
Plymouth Industrial REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLYM#NYSE">PLYM</a>) is a Boston, Massachusetts-based industrial REIT that owns and operates 156 properties with over 34 million square feet in 13 East Coast and Midwestern markets. Its total portfolio occupancy as of Dec. 31, 2023, was 98.6%. During the fourth quarter of 2023, it leased an aggregate of 966,167 square feet, with a 23.4% increase in rental rates on a cash basis from these leases.
In 2023, with a 29.98% return, Plymouth outperformed larger and more well-known Industrial REITs such as Prologis and Rexford Industrial Realty. Still, this smaller REIT receives far less publicity than its rivals.
On Jan. 22, 2023, JMP Securities analyst Mitch Germain upgraded Plymouth Industrial REIT from Market Perform to Market Outperform and announced a $27 price target.
Plymouth Industrial pays a quarterly dividend of $0.225 per share. The $0.90 per share annual dividend presently yields 4.06%.
Plymouth has had a total return since Nov. 1, 2023, of 12.36%.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
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4 Industrial REITs With Above-Average Dividend Yields

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Press Releases

Terreno Realty Corporation Declares Quarterly Dividend and Files Annual 2023 Financial Statements

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Terreno Realty Corporation Acquires Property in Brooklyn, NY for $12.0 Million

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Terreno Realty Corporation Announces Quarterly Operating, Investment and Capital Markets Activity

Terreno Realty Corporation Announces Development Start in Hialeah, FL

Terreno Realty Corporation Acquires Property in Alexandria, VA for $84.3 Million

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