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10-Q Filing

TERRENO REALTY CORP CIK: 1476150 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001476150-23-000007
Period End Date 20230331
Filing Date 20230503
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance trno-20230331_htm.xml
Balance Sheet 68 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 $1.85B USD Point-in-time
Land Land $1.93B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 82.61M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 76.46M shares Point-in-time
Buildings and improvements BuildingsAndImprovementsGross $1.37B USD Point-in-time
Buildings and improvements BuildingsAndImprovementsGross $1.49B USD Point-in-time
Construction in progress ConstructionInProgressGross $248.15M USD Point-in-time
Construction in progress ConstructionInProgressGross $51.90M USD Point-in-time
Intangible assets FiniteLivedIntangibleAssetsGross $139.81M USD Point-in-time
Intangible assets FiniteLivedIntangibleAssetsGross $123.55M USD Point-in-time
Total investments in properties RealEstateInvestmentPropertyAtCost $3.40B USD Point-in-time
Total investments in properties RealEstateInvestmentPropertyAtCost $3.81B USD Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $337.32M USD Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $323.63M USD Point-in-time
Net investments in properties RealEstateInvestmentPropertyNet $3.08B USD Point-in-time
Net investments in properties RealEstateInvestmentPropertyNet $3.47B USD Point-in-time
Properties held for sale, net RealEstateHeldForDevelopmentAndSale $12.31M USD Point-in-time
Properties held for sale, net RealEstateHeldForDevelopmentAndSale - USD Point-in-time
Net investments in real estate RealEstateInvestments $3.08B USD Point-in-time
Net investments in real estate RealEstateInvestments $3.48B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $26.39M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $106.28M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $11.05M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $204.40M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $397.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $2.60M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $1.69M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $3.25M USD Point-in-time
Other assets, net OtherAssets $80.00M USD Point-in-time
Other assets, net OtherAssets $61.22M USD Point-in-time
Total assets Assets $3.16B USD Point-in-time
Total assets Assets $3.58B USD Point-in-time
Credit facility LineOfCredit - USD Point-in-time
Credit facility LineOfCredit - USD Point-in-time
Term loans payable, net LoansPayable $198.97M USD Point-in-time
Term loans payable, net LoansPayable $198.99M USD Point-in-time
Senior unsecured notes, net SeniorNotes $571.97M USD Point-in-time
Senior unsecured notes, net SeniorNotes $571.83M USD Point-in-time
Security deposits SecurityDepositLiability $27.45M USD Point-in-time
Security deposits SecurityDepositLiability $29.79M USD Point-in-time
Intangible liabilities, net BelowMarketLeaseNet $92.53M USD Point-in-time
Intangible liabilities, net BelowMarketLeaseNet $55.87M USD Point-in-time
Dividends payable DividendsPayableCurrentAndNoncurrent $33.21M USD Point-in-time
Dividends payable DividendsPayableCurrentAndNoncurrent $30.75M USD Point-in-time
Accounts payable and other liabilities AccountsPayableOtherCurrentAndNoncurrent $49.69M USD Point-in-time
Accounts payable and other liabilities AccountsPayableOtherCurrentAndNoncurrent $52.02M USD Point-in-time
Total liabilities Liabilities $934.59M USD Point-in-time
Total liabilities Liabilities $978.50M USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Common stock: $0.01 par value, 400,000,000 shares authorized, and 82,609,838 and 76,463,482 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively. CommonStockValue $827.00K USD Point-in-time
Common stock: $0.01 par value, 400,000,000 shares authorized, and 82,609,838 and 76,463,482 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively. CommonStockValue $765.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.17B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.55B USD Point-in-time
Common stock held in deferred compensation plan, 512,459 and 417,665 shares at March 31, 2023 and December 31, 2022, respectively. CommonStockHeldInTrust $32.01M USD Point-in-time
Common stock held in deferred compensation plan, 512,459 and 417,665 shares at March 31, 2023 and December 31, 2022, respectively. CommonStockHeldInTrust $26.46M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $88.27M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $78.39M USD Point-in-time
Total stockholders equity StockholdersEquity $2.23B USD Point-in-time
Total stockholders equity StockholdersEquity $2.06B USD Point-in-time
Total stockholders equity StockholdersEquity $2.60B USD Point-in-time
Total stockholders equity StockholdersEquity $2.05B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $3.58B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $3.16B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Rental revenues and tenant expense reimbursements OperatingLeaseLeaseIncome $74.65M USD 1 Quarter
Rental revenues and tenant expense reimbursements OperatingLeaseLeaseIncome $64.03M USD 1 Quarter
Total revenues Revenues $74.65M USD 1 Quarter
Total revenues Revenues $64.03M USD 1 Quarter
Property operating expenses OperatingLeaseInitialDirectCostExpenseOverTerm $16.88M USD 1 Quarter
Property operating expenses OperatingLeaseInitialDirectCostExpenseOverTerm $18.38M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $14.98M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $18.16M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $9.32M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $7.53M USD 1 Quarter
Acquisition costs and other BusinessCombinationAcquisitionRelatedCosts $48.00K USD 1 Quarter
Acquisition costs and other BusinessCombinationAcquisitionRelatedCosts $28.00K USD 1 Quarter
Total costs and expenses CostsAndExpenses $45.91M USD 1 Quarter
Total costs and expenses CostsAndExpenses $39.41M USD 1 Quarter
Interest and other income InterestAndOtherIncome $1.96M USD 1 Quarter
Interest and other income InterestAndOtherIncome $121.00K USD 1 Quarter
Interest expense, including amortization InterestExpense $5.08M USD 1 Quarter
Interest expense, including amortization InterestExpense $7.38M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-4.96M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-5.41M USD 1 Quarter
Net income NetIncomeLoss $23.33M USD 1 Quarter
Net income NetIncomeLoss $19.66M USD 1 Quarter
Allocation to participating securities UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic $81.00K USD 1 Quarter
Allocation to participating securities UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic $105.00K USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $19.58M USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $23.23M USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersDiluted $23.23M USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersDiluted $19.58M USD 1 Quarter
Net income available to common stockholders - basic (in dollars per share) EarningsPerShareBasic $0.26 USD 1 Quarter
Net income available to common stockholders - basic (in dollars per share) EarningsPerShareBasic $0.29 USD 1 Quarter
Net income available to common stockholders - diluted (in dollars per share) EarningsPerShareDiluted $0.29 USD 1 Quarter
Net income available to common stockholders - diluted (in dollars per share) EarningsPerShareDiluted $0.26 USD 1 Quarter
BASIC WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares) WeightedAverageNumberOfSharesOutstandingBasic 79.90M shares 1 Quarter
BASIC WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares) WeightedAverageNumberOfSharesOutstandingBasic 75.20M shares 1 Quarter
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 80.34M shares 1 Quarter
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 75.28M shares 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $23.33M USD 1 Quarter
Net income NetIncomeLoss $19.66M USD 1 Quarter
Straight-line rents StraightLineRent $2.17M USD 1 Quarter
Straight-line rents StraightLineRent $2.31M USD 1 Quarter
Amortization of lease intangibles AmortizationOfLeaseIntangibles $3.11M USD 1 Quarter
Amortization of lease intangibles AmortizationOfLeaseIntangibles $3.54M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $14.98M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $18.16M USD 1 Quarter
Deferred financing cost amortization AmortizationOfFinancingCostsAndDiscounts $383.00K USD 1 Quarter
Deferred financing cost amortization AmortizationOfFinancingCostsAndDiscounts $305.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.83M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $3.04M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $4.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $2.84M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-1.48M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $3.60M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $28.03M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $38.80M USD 1 Quarter
Cash paid for property acquisitions PaymentsToAcquireBuildings $68.05M USD 1 Quarter
Cash paid for property acquisitions PaymentsToAcquireBuildings $364.60M USD 1 Quarter
Additions to construction in progress PaymentsForConstructionInProcess $8.90M USD 1 Quarter
Additions to construction in progress PaymentsForConstructionInProcess $10.15M USD 1 Quarter
Additions to buildings, improvements and leasing costs PaymentsToAcquireOtherPropertyPlantAndEquipment $18.63M USD 1 Quarter
Additions to buildings, improvements and leasing costs PaymentsToAcquireOtherPropertyPlantAndEquipment $13.86M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-387.37M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-96.84M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $366.50M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Issuance costs on issuance of common stock IssuanceCostsOnIssuanceOfCommonStock - USD 1 Quarter
Issuance costs on issuance of common stock IssuanceCostsOnIssuanceOfCommonStock $978.00K USD 1 Quarter
Repurchase of common stock related to employee awards PaymentsForRepurchaseOfCommonStock $493.00K USD 1 Quarter
Repurchase of common stock related to employee awards PaymentsForRepurchaseOfCommonStock $627.00K USD 1 Quarter
Borrowings on credit facility ProceedsFromLinesOfCredit $29.00M USD 1 Quarter
Borrowings on credit facility ProceedsFromLinesOfCredit - USD 1 Quarter
Payments on credit facility RepaymentsOfLinesOfCredit - USD 1 Quarter
Payments on credit facility RepaymentsOfLinesOfCredit $29.00M USD 1 Quarter
Payment of deferred financing costs PaymentsOfFinancingCosts - USD 1 Quarter
Payment of deferred financing costs PaymentsOfFinancingCosts $362.00K USD 1 Quarter
Dividends paid to common stockholders PaymentsOfDividendsCommonStock $30.75M USD 1 Quarter
Dividends paid to common stockholders PaymentsOfDividendsCommonStock $25.62M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $334.14M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-26.47M USD 1 Quarter
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-14.42M USD 1 Quarter
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-95.28M USD 1 Quarter
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $204.80M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $13.66M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $28.08M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $109.52M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $204.80M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $13.66M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $28.08M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $109.52M USD Point-in-time
Cash paid for interest, net of capitalized interest InterestPaidNet $8.38M USD 1 Quarter
Cash paid for interest, net of capitalized interest InterestPaidNet $7.18M USD 1 Quarter
Accounts payable related to capital improvements CapitalExpendituresIncurredButNotYetPaid $18.79M USD 1 Quarter
Accounts payable related to capital improvements CapitalExpendituresIncurredButNotYetPaid $17.22M USD 1 Quarter
Non-cash issuance of common stock to the deferred compensation plan StockIssued1 $5.55M USD 1 Quarter
Non-cash issuance of common stock to the deferred compensation plan StockIssued1 $11.54M USD 1 Quarter
Acquisition of properties ReconciliationAcquisitionOfProperties $70.30M USD 1 Quarter
Acquisition of properties ReconciliationAcquisitionOfProperties $406.73M USD 1 Quarter
Assumption of other assets and liabilities AssumptionsOfOtherAssetsAndLiabilities $42.13M USD 1 Quarter
Assumption of other assets and liabilities AssumptionsOfOtherAssetsAndLiabilities $2.24M USD 1 Quarter
Net cash paid for property acquisitions PaymentsToAcquireBuildings $68.05M USD 1 Quarter
Net cash paid for property acquisitions PaymentsToAcquireBuildings $364.60M USD 1 Quarter
Stockholders Equity 23 line items
Line Item Tag Value Unit Period
Issuance costs PaymentsOfStockIssuanceCosts - USD 1 Quarter
Issuance costs PaymentsOfStockIssuanceCosts $943.00K USD 1 Quarter
Dividends per share, common stock (in dollars per share) CommonStockDividendsPerShareDeclared $0.34 USD 1 Quarter
Dividends per share, common stock (in dollars per share) CommonStockDividendsPerShareDeclared $0.40 USD 1 Quarter
Beginning balance StockholdersEquity $2.23B USD Point-in-time
Beginning balance StockholdersEquity $2.06B USD Point-in-time
Beginning balance StockholdersEquity $2.60B USD Point-in-time
Beginning balance StockholdersEquity $2.05B USD Point-in-time
Net income NetIncomeLoss $23.33M USD 1 Quarter
Net income NetIncomeLoss $19.66M USD 1 Quarter
Issuance of common stock, net of issuance costs StockIssuedDuringPeriodValueNewIssues $377.49M USD 1 Quarter
Common shares acquired related to employee awards StockRepurchasedDuringPeriodValue $627.00K USD 1 Quarter
Common shares acquired related to employee awards StockRepurchasedDuringPeriodValue $493.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.83M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.04M USD 1 Quarter
Common stock dividends DividendsCommonStockCash $25.68M USD 1 Quarter
Common stock dividends DividendsCommonStockCash $33.21M USD 1 Quarter
Deposits to deferred compensation plan DepositsToDeferredCompensationPlan - USD 1 Quarter
Deposits to deferred compensation plan DepositsToDeferredCompensationPlan - USD 1 Quarter
Ending balance StockholdersEquity $2.23B USD Point-in-time
Ending balance StockholdersEquity $2.06B USD Point-in-time
Ending balance StockholdersEquity $2.60B USD Point-in-time
Ending balance StockholdersEquity $2.05B USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $23.33M USD 1 Quarter
Net income NetIncomeLoss $19.66M USD 1 Quarter
Cash flow hedge adjustment OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent - USD 1 Quarter
Cash flow hedge adjustment OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent - USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $19.66M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $23.33M USD 1 Quarter

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

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