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Terreno reports 4Q results

SAN FRANCISCO (AP) _ Terreno Realty Corp. (TRNO) on Wednesday reported a key measure of profitability in its fourth quarter. The results met Wall Street expectations.

The San Francisco-based real estate investment trust said it had funds from operations of $15.6 million, or 29 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 29 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 $10.8 million, or 20 cents per share.

The industrial real estate company posted revenue of $34.6 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $34.9 million.

For the year, the company reported funds from operations of $56.1 million, or $1.09 per share. Revenue was reported as $132.5 million.

The company's shares have dropped 5 percent since the beginning of the year. The stock has risen 26 percent in the last 12 months.


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