Terreno Realty Corporation · NYSE:TRNO
Terreno Realty — Q3 2016 Earnings Presentation
20 slides from Terreno Realty's earnings presentation, Nov 2, 2016
Slide 1: Terreno Realty Corporation Q3 2016 Update
Terreno Realty Corporation Q3 2016 Update November 2, 2016
Slide 2: Forward Looking Statements
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Forward Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact are forward-lo
Slide 3: Investment Strategy
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Investment Strategy Unique and Highly Selective Focus on Functional Assets Market Approach in Infill Locations Acquire, own and operate industrial real estate in six Broad product opportunity set(1)
Slide 4: Recent Highlights
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Recent Highlights Financial Highlights Net Income available to common stockholders of $0.05 per diluted share for the quarter ended September 30, 2016 compared to $0.08 for the same period in 2015 and
Slide 5: Recent Highlights
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Recent Highlights Investment Highlights Completed the redevelopment of South Main in Q3 2016 Acquisitions $36.5 million Carson, CA totaling approximately 244,000 square feet and 100% leased to two ten
Slide 6: Current Portfolio Overview
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Current Portfolio Overview Occupancy Current Portfolio by Geography (1) Portfolio Same Store Seattle 12.2% Northern New Jersey / New York City 24.1% San Francisco Bay Area 13.8% Washington, D.C. / Balti
Slide 7: Terreno's Submarket Focus
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Terreno’s Submarket Focus Terreno Portfolio (4) Market Shrinking Supply (1) No Net New Supply (2) New Supply (3) Los Angeles LAX South Bay Inland Empire West Shrinking West of 405 Commerce/Vernon Inland
Slide 8: Selected Recent Acquisitions
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Selected Recent Acquisitions Purchase Price: $14.1 million Estimated Stabilized Cap Rate: 6.9% Hampton Size: Two industrial distribution buildings and one light Overlook industrial flex building c
Slide 9: Selected Examples of Value Creation
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Selected Examples of Value Creation In addition to the acquisition and operation of core properties, Terreno also focuses on value add projects. Since its IPO, approximately half of Terreno’s acquisit
Slide 10: Value Creation – Redevelopment
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Value Creation – Redevelopment BEFORE Property: South Main Location: Carson, CA Acquisition size and price: Three industrial buildings totaling 186,000 SF and one 34,000 SF office building on 14.3
Slide 11: Value Creation – Capital Recycling
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Value Creation – Capital Recycling Property: Sweitzer Location: Laurel, MD Size: One building, 85,000 SF on 6.9 acres Acquisition Price: $7.0 million, $82 PSF ($23 per land SF) in October 2012
Slide 12: Market Leading Corporate Structure
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Market Leading Corporate Structure Management Alignment Corporate Governance Executive Team’s long-term incentive Majority independent directors with diverse compensation fully aligned with stockhol
Slide 13: Key Takeaways
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Key Takeaways Focused strategy – Six major coastal US markets exclusively – Flexible and functional assets in infill locations Acquisition opportunities across our target markets at discounts to rep
Slide 14: Appendix
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix 14
Slide 15: Appendix: Statements Of Operations
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Statements Of Operations CONSOLIDATED STATEMENTS OF OPERATIONS For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 REVENUES Rental revenues $ 2
Slide 16: Appendix: Net Income, FFO and Adjusted FFO
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Net Income, FFO and Adjusted FFO For the Three Months Ended September 30, For the Nine Months Ended September 30, (1) NET INCOME, FFO AND ADJUSTED FFO 2016 2015 2016 2015 Total revenues $ 27,1
Slide 17: Appendix: Supplemental Components of NAV
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Supplemental Components of NAV For the Three Q3 2016 Acquisitions Months Ended (1) Purchase Estimated COMPONENTS OF NET OPERATING INCOME September 30, 2016 Price Stabilized Leased % at Total r
Slide 18: Appendix: Same Store and Disposition Results
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Same Store and Disposition Results For the Three Months For the Nine Months Ended September 30, Ended September 30, (1) SAME STORE GROWTH 2016 2015 $ Change % Change 2016 2015 $ Change % Chang
Slide 19: Appendix: Reporting Definitions
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Reporting Definitions Adjusted Funds from Operations (AFFO): We compute AFFO by adding to or subtracting from FFO (see definition below) (i) acquisition costs (ii) stock-based compensation (ii
Slide 20: Appendix: Reporting Definitions
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Reporting Definitions Net Operating Income (NOI): We compute NOI as rental revenues, including tenant expense reimbursements, less property operating expenses. We compute same store NOI as ren