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10-Q Filing

TERRENO REALTY CORP CIK: 1476150 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001476150-20-000008
Period End Date 20200331
Filing Date 20200506
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance trno-20200331_htm.xml
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 400.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 400.00M shares Point-in-time
Land Land $1.07B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 67.70M shares Point-in-time
Land Land $1.06B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 67.25M shares Point-in-time
Buildings and improvements BuildingsAndImprovementsGross $909.20M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 67.25M shares Point-in-time
Buildings and improvements BuildingsAndImprovementsGross $895.74M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 67.70M shares Point-in-time
Construction in progress ConstructionInProgressGross $101.25M USD Point-in-time
Common stock held in rabbi trust (in shares) CommonStockHeldInTrustShares 135,494.00 shares Point-in-time
Common stock held in rabbi trust (in shares) CommonStockHeldInTrustShares 0.00 shares Point-in-time
Construction in progress ConstructionInProgressGross $102.47M USD Point-in-time
Intangible assets FiniteLivedIntangibleAssetsGross $87.66M USD Point-in-time
Intangible assets FiniteLivedIntangibleAssetsGross $88.59M USD Point-in-time
Total investments in properties RealEstateInvestmentPropertyAtCost $2.15B USD Point-in-time
Total investments in properties RealEstateInvestmentPropertyAtCost $2.15B USD Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $208.28M USD Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $212.08M USD Point-in-time
Net investments in properties RealEstateInvestmentPropertyNet $1.94B USD Point-in-time
Net investments in properties RealEstateInvestmentPropertyNet $1.95B USD Point-in-time
Properties held for sale, net RealEstateHeldForDevelopmentAndSale $31.83M USD Point-in-time
Properties held for sale, net RealEstateHeldForDevelopmentAndSale - USD Point-in-time
Net investments in real estate RealEstateInvestments $1.95B USD Point-in-time
Net investments in real estate RealEstateInvestments $1.97B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $110.08M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $31.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $69.73M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $59.75M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $297.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $2.63M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $3.48M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $2.66M USD Point-in-time
Senior secured loan, net LoansAndLeasesReceivableNetReportedAmount $10.91M USD Point-in-time
Senior secured loan, net LoansAndLeasesReceivableNetReportedAmount $15.86M USD Point-in-time
Other assets, net OtherAssets $33.95M USD Point-in-time
Other assets, net OtherAssets $32.31M USD Point-in-time
Total assets Assets $2.11B USD Point-in-time
Total assets Assets $2.09B USD Point-in-time
Credit facility LineOfCredit - USD Point-in-time
Credit facility LineOfCredit - USD Point-in-time
Term loans payable, net LoansPayable $99.64M USD Point-in-time
Term loans payable, net LoansPayable $99.58M USD Point-in-time
Senior unsecured notes, net SeniorNotes $347.67M USD Point-in-time
Senior unsecured notes, net SeniorNotes $347.77M USD Point-in-time
Mortgage loans payable, net SecuredDebt $11.60M USD Point-in-time
Mortgage loans payable, net SecuredDebt $44.32M USD Point-in-time
Security deposits SecurityDepositLiability $14.15M USD Point-in-time
Security deposits SecurityDepositLiability $14.25M USD Point-in-time
Intangible liabilities, net BelowMarketLeaseNet $28.13M USD Point-in-time
Intangible liabilities, net BelowMarketLeaseNet $27.18M USD Point-in-time
Dividends payable DividendsPayableCurrentAndNoncurrent $18.31M USD Point-in-time
Dividends payable DividendsPayableCurrentAndNoncurrent $18.16M USD Point-in-time
Performance share awards payable DeferredCompensationLiabilityCurrentAndNoncurrent $11.63M USD Point-in-time
Performance share awards payable DeferredCompensationLiabilityCurrentAndNoncurrent $4.95M USD Point-in-time
Accounts payable and other liabilities AccountsPayableOtherCurrentAndNoncurrent $19.99M USD Point-in-time
Accounts payable and other liabilities AccountsPayableOtherCurrentAndNoncurrent $27.70M USD Point-in-time
Total liabilities Liabilities $543.69M USD Point-in-time
Total liabilities Liabilities $591.34M USD Point-in-time
Commitments and contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Common stock: $0.01 par value, 400,000,000 shares authorized, and 67,695,805 and 67,252,787 shares issued and outstanding, respectively CommonStockValue $673.00K USD Point-in-time
Common stock: $0.01 par value, 400,000,000 shares authorized, and 67,695,805 and 67,252,787 shares issued and outstanding, respectively CommonStockValue $677.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.51B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.55B USD Point-in-time
Retained (deficit) earnings RetainedEarningsAccumulatedDeficit $-2.84M USD Point-in-time
Retained (deficit) earnings RetainedEarningsAccumulatedDeficit $2.62M USD Point-in-time
Common stock held in deferred compensation plan, 135,494 and 0 shares at March 31, 2020 and December 31, 2019, respectively CommonStockHeldInTrust $7.35M USD Point-in-time
Common stock held in deferred compensation plan, 135,494 and 0 shares at March 31, 2020 and December 31, 2019, respectively CommonStockHeldInTrust - USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-437.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-364.00K USD Point-in-time
Total stockholders equity StockholdersEquity $1.25B USD Point-in-time
Total stockholders equity StockholdersEquity $1.52B USD Point-in-time
Total stockholders equity StockholdersEquity $1.54B USD Point-in-time
Total stockholders equity StockholdersEquity $1.33B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.09B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.11B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Rental revenues and tenant expense reimbursements OperatingLeaseLeaseIncome $45.12M USD 1 Quarter
Rental revenues and tenant expense reimbursements OperatingLeaseLeaseIncome $40.88M USD 1 Quarter
Total revenues Revenues $40.88M USD 1 Quarter
Total revenues Revenues $45.12M USD 1 Quarter
Property operating expenses OperatingLeaseInitialDirectCostExpenseOverTerm $10.69M USD 1 Quarter
Property operating expenses OperatingLeaseInitialDirectCostExpenseOverTerm $11.91M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $11.10M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $10.41M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $5.96M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $5.76M USD 1 Quarter
Acquisition costs BusinessCombinationAcquisitionRelatedCosts - USD 1 Quarter
Acquisition costs BusinessCombinationAcquisitionRelatedCosts $52.00K USD 1 Quarter
Total costs and expenses CostsAndExpenses $28.82M USD 1 Quarter
Total costs and expenses CostsAndExpenses $27.07M USD 1 Quarter
Interest and other income InterestAndOtherIncome $564.00K USD 1 Quarter
Interest and other income InterestAndOtherIncome $1.52M USD 1 Quarter
Interest expense, including amortization InterestExpense $4.01M USD 1 Quarter
Interest expense, including amortization InterestExpense $4.26M USD 1 Quarter
Gain on sales of real estate investments GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes - USD 1 Quarter
Gain on sales of real estate investments GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes $4.46M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-3.44M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $1.72M USD 1 Quarter
Net income NetIncomeLoss $12.86M USD 1 Quarter
Net income NetIncomeLoss $15.53M USD 1 Quarter
Allocation to participating securities UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic $98.00K USD 1 Quarter
Allocation to participating securities UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic $83.00K USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $15.43M USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $12.77M USD 1 Quarter
Net income available to common stockholders - basic (in dollars per share) EarningsPerShareBasic $0.19 USD 1 Quarter
Net income available to common stockholders - basic (in dollars per share) EarningsPerShareBasic $0.25 USD 1 Quarter
Net income available to common stockholders - diluted (in dollars per share) EarningsPerShareDiluted $0.25 USD 1 Quarter
Net income available to common stockholders - diluted (in dollars per share) EarningsPerShareDiluted $0.19 USD 1 Quarter
BASIC WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares) WeightedAverageNumberOfSharesOutstandingBasic 61.46M shares 1 Quarter
BASIC WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares) WeightedAverageNumberOfSharesOutstandingBasic 67.06M shares 1 Quarter
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 61.60M shares 1 Quarter
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 67.47M shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $12.86M USD 1 Quarter
Net income NetIncomeLoss $15.53M USD 1 Quarter
Straight-line rents StraightLineRent $737.00K USD 1 Quarter
Straight-line rents StraightLineRent $316.00K USD 1 Quarter
Amortization of lease intangibles AmortizationOfLeaseIntangibles $1.39M USD 1 Quarter
Amortization of lease intangibles AmortizationOfLeaseIntangibles $870.00K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $11.10M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $10.41M USD 1 Quarter
Gain on sales of real estate investments GainLossOnSaleOfProperties - USD 1 Quarter
Gain on sales of real estate investments GainLossOnSaleOfProperties $4.46M USD 1 Quarter
Deferred financing cost amortization AmortizationOfFinancingCostsAndDiscounts $388.00K USD 1 Quarter
Deferred financing cost amortization AmortizationOfFinancingCostsAndDiscounts $367.00K USD 1 Quarter
Deferred senior secured loan fee amortization AmortizationOfDeferredLoanOriginationFeesNet $43.00K USD 1 Quarter
Deferred senior secured loan fee amortization AmortizationOfDeferredLoanOriginationFeesNet $404.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.50M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.18M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $2.37M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-1.71M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-216.00K USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-4.30M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $22.16M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $19.78M USD 1 Quarter
Cash paid for property acquisitions PaymentsToAcquireBuildings $30.08M USD 1 Quarter
Cash paid for property acquisitions PaymentsToAcquireBuildings $25.75M USD 1 Quarter
Proceeds from sales of real estate investments, net ProceedsFromSaleOfRealEstateHeldforinvestment - USD 1 Quarter
Proceeds from sales of real estate investments, net ProceedsFromSaleOfRealEstateHeldforinvestment $11.98M USD 1 Quarter
Additions to construction in progress PaymentsForConstructionInProcess $5.53M USD 1 Quarter
Additions to construction in progress PaymentsForConstructionInProcess $2.71M USD 1 Quarter
Additions to buildings, improvements and leasing costs PaymentsToAcquireOtherPropertyPlantAndEquipment $8.39M USD 1 Quarter
Additions to buildings, improvements and leasing costs PaymentsToAcquireOtherPropertyPlantAndEquipment $8.38M USD 1 Quarter
Payments on senior secured loan ProceedsFromCollectionOfLoansReceivable - USD 1 Quarter
Payments on senior secured loan ProceedsFromCollectionOfLoansReceivable $4.99M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-27.68M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-36.19M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $22.79M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $75.08M USD 1 Quarter
Issuance costs on issuance of common stock IssuanceCostsOnIssuanceOfCommonStock $1.30M USD 1 Quarter
Issuance costs on issuance of common stock IssuanceCostsOnIssuanceOfCommonStock $331.00K USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $3.96M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $240.00K USD 1 Quarter
Borrowings on credit facility ProceedsFromLinesOfCredit $17.00M USD 1 Quarter
Borrowings on credit facility ProceedsFromLinesOfCredit - USD 1 Quarter
Payments on credit facility RepaymentsOfLinesOfCredit $36.00M USD 1 Quarter
Payments on credit facility RepaymentsOfLinesOfCredit - USD 1 Quarter
Payments on mortgage loans payable RepaymentsOfSecuredDebt $373.00K USD 1 Quarter
Payments on mortgage loans payable RepaymentsOfSecuredDebt $32.73M USD 1 Quarter
Dividends paid to common stockholders PaymentsOfDividendsCommonStock $14.64M USD 1 Quarter
Dividends paid to common stockholders PaymentsOfDividendsCommonStock $18.16M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $35.80M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-28.67M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-42.71M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $27.90M USD 1 Quarter
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $34.48M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $70.03M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $112.74M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $62.38M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $34.48M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $70.03M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $112.74M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $62.38M USD Point-in-time
Cash paid for interest, net of capitalized interest InterestPaidNet $4.97M USD 1 Quarter
Cash paid for interest, net of capitalized interest InterestPaidNet $6.63M USD 1 Quarter
Accounts payable related to capital improvements CapitalExpendituresIncurredButNotYetPaid $9.15M USD 1 Quarter
Accounts payable related to capital improvements CapitalExpendituresIncurredButNotYetPaid $11.12M USD 1 Quarter
Non-cash repayment of senior secured loan NoncashRepaymentOfSeniorSecuredLoan $39.09M USD 1 Quarter
Non-cash repayment of senior secured loan NoncashRepaymentOfSeniorSecuredLoan - USD 1 Quarter
Non-cash issuance of common stock to the deferred compensation plan StockIssued1 $7.35M USD 1 Quarter
Non-cash issuance of common stock to the deferred compensation plan StockIssued1 - USD 1 Quarter
Lease liability arising from recognition of right-of-use asset RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $585.00K USD 1 Quarter
Lease liability arising from recognition of right-of-use asset RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $825.00K USD 1 Quarter
Acquisition of properties ReconciliationAcquisitionOfProperties $30.62M USD 1 Quarter
Acquisition of properties ReconciliationAcquisitionOfProperties $29.09M USD 1 Quarter
Assumption of other assets and liabilities AssumptionsOfOtherAssetsAndLiabilities $536.00K USD 1 Quarter
Assumption of other assets and liabilities AssumptionsOfOtherAssetsAndLiabilities $3.34M USD 1 Quarter
Net cash paid for property acquisitions PaymentsToAcquireBuildings $30.08M USD 1 Quarter
Net cash paid for property acquisitions PaymentsToAcquireBuildings $25.75M USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Issuance costs PaymentsOfStockIssuanceCosts $1.43M USD 1 Quarter
Issuance costs PaymentsOfStockIssuanceCosts $426.00K USD 1 Quarter
Beginning balance StockholdersEquity $1.25B USD Point-in-time
Beginning balance StockholdersEquity $1.52B USD Point-in-time
Beginning balance StockholdersEquity $1.54B USD Point-in-time
Beginning balance StockholdersEquity $1.33B USD Point-in-time
Net income NetIncomeLoss $12.86M USD 1 Quarter
Net income NetIncomeLoss $15.53M USD 1 Quarter
Issuance of common stock, net of issuance costs StockIssuedDuringPeriodValueNewIssues $87.92M USD 1 Quarter
Issuance of common stock, net of issuance costs StockIssuedDuringPeriodValueNewIssues $29.65M USD 1 Quarter
Repurchase and cancellation of common stock related to employee awards StockRepurchasedDuringPeriodValue $698.00K USD 1 Quarter
Repurchase and cancellation of common stock related to employee awards StockRepurchasedDuringPeriodValue $3.96M USD 1 Quarter
Repurchase and cancellation of common stock related to employee awards StockRepurchasedDuringPeriodValue $240.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.57M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $928.00K USD 1 Quarter
Common stock dividends DividendsCommonStockCash $18.31M USD 1 Quarter
Common stock dividends DividendsCommonStockCash $15.11M USD 1 Quarter
Deposits to deferred compensation plan DepositsToDeferredCompensationPlan - USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $73.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $63.00K USD 1 Quarter
Ending balance StockholdersEquity $1.25B USD Point-in-time
Ending balance StockholdersEquity $1.52B USD Point-in-time
Ending balance StockholdersEquity $1.54B USD Point-in-time
Ending balance StockholdersEquity $1.33B USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $12.86M USD 1 Quarter
Net income NetIncomeLoss $15.53M USD 1 Quarter
Cash flow hedge adjustment OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $73.00K USD 1 Quarter
Cash flow hedge adjustment OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $63.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $15.60M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $12.93M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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