Terreno: 3Q Earnings Snapshot
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SAN FRANCISCO (AP) _ Terreno Realty Corp. (TRNO) on Thursday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The San Francisco-based real estate investment trust said it had funds from operations of $20 million, or 34 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 32 cents per share.
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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 $10.1 million, or 17 cents per share.
The industrial real estate company posted revenue of $37.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $37.7 million.
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The company's shares have climbed 7 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.53, a climb of almost 1 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on TRNO at https://www.zacks.com/ap/TRNO