Terreno Realty Corporation released its third‑quarter 2025 financial results, reporting a regular quarterly cash dividend of $0.52 per share that will be paid on January 9 2026 to shareholders of record as of December 15 2025. The company also filed audited statements for the quarter ended September 30 2025, confirming compliance with regulatory reporting requirements.
The company’s earnings per share of $1.00 surpassed the consensus estimate of $0.65 by $0.35, a 53.8% beat. Total revenue reached $116.2 million, up 3.8% from the $111.9 million estimate and 16.7% year‑over‑year from $99.6 million in Q3 2024. Net income rose to $103.4 million, a dramatic increase from $36.6 million in the same quarter last year, largely driven by $62.4 million in gains on real‑estate sales.
Revenue growth was supported by robust leasing activity across the company’s industrial portfolio, while the significant gains on property sales amplified profitability. Cost control measures kept operating expenses in line with revenue growth, allowing the company to translate higher sales into a substantial earnings beat. The one‑time sale gains also contributed to the sharp rise in net income, illustrating the impact of Terreno’s active acquisition and disposition strategy.
Terreno’s portfolio activity in 2025 included the acquisition of eight properties and one portfolio for $638.3 million and the sale of seven properties for $242.2 million, realizing $128.9 million in total gains. As of September 30 2025, the company owned 307 buildings totaling approximately 20.2 million square feet, with a strong focus on industrial assets in major coastal markets. The combination of organic growth and strategic portfolio recycling underpins the company’s confidence in sustaining dividend payments.
Management highlighted the company’s disciplined approach to capital recycling and its focus on high‑return industrial assets. While no forward‑looking guidance was disclosed, the earnings beat and portfolio gains signal a positive trajectory for the remainder of the year and reinforce Terreno’s commitment to returning cash to shareholders.
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