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Terreno: Q3 Earnings Snapshot
By AP News - Nov 07, 2024, 05:02 AM ET
Last Updated - Dec 16, 2024, 05:36 PM EST
BELLEVUE, Wash. (AP) — BELLEVUE, Wash. (AP) — Terreno Realty Corp. (TRNO) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The Bellevue, Washington-based real estate investment trust said it had funds from operations of $60.4 million, or 62 cents per share, in the period.
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The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 61 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $36.5 million, or 37 cents per share.
The industrial real estate company, based in Bellevue, Washington, posted revenue of $99.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $96.3 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TRNO at https://www.zacks.com/ap/TRNO
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