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Company Profile |
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TriNet Corporate Realty Trust, Inc. is a real estate investment trust which acquires, owns and manages predominantly single-tenant office and industrial properties leased to corporations nationwide. TriNet focuses on acquiring general purpose office and industrial properties that are important to the ongoing operations of its tenants, such as corporate headquarters and strategic distribution facilities. TriNet acquires properties by structuring purchase/leaseback transactions directly with corporations, by purchasing properties from investors that are subject to existing net leases, and by purchasing build-to-suits from developers. The company's triple net leases typically provide that its tenants pay for most or all property operating expenses while contractual rental income escalates.
TriNet was founded more than ten years ago and completed its initial public offering on June 3, 1993. Since going public, the company has increased its revenues fivefold while strengthening its balance sheet and increasing the credit quality and diversity of its portfolio. Most of TriNet's rental revenue now comes from high quality tenants, such as AlliedSignal, AT&T, Compaq, Federal Express, IBM, Lever Brothers, Microsoft, NIKE, and TRW. At September 30, 1997, TriNet's portfolio consisted of 103 properties comprising more than 15.4 million square feet in 25 states, all of which were 100 percent leased by 76 corporate tenants. TriNet has a conservative balance sheet and significant capital resources. The company has a $200 million unsecured revolving credit facility, which allows it to rapidly fund its acquisitions and ongoing capital needs. In addition, TriNet has senior unsecured investment grade ratings from all four rating agencies. As a result, the company is well positioned to access low-cost debt and equity capital from a variety of sources. |
NYSE Symbol: |
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Fully Diluted Common Shares Outstanding (at September 30, 1997): |
20,843,058 | ||||||||
Preferred Shares Outstanding (Non-convertable): | 7,300,000 | ||||||||
Approximate Institutional Ownership (at September 30, 1997): |
60% | ||||||||
Insider Ownership (at September 30, 1997): | 2.36% | ||||||||
12 Month Price Range for Common Stock (at September 30, 1997): |
$31.25 - $36.625 | ||||||||
Indicated Annual Dividend Per Share for Common Stock: | $2.52 | ||||||||
Annual Dividend Per Share for Series A Preferred Stock: | $2.34375 | ||||||||
Annual Dividend Per Share for Series B Preferred Stock: | $2.30 | ||||||||
Annual Dividend Per Share for Series C Preferred Stock: | $2.00 | ||||||||
Return of Capital on Common Stock Dividend, 1993: 1994: 1995: 1996: |
19% 25% 40% 45% |
Facility Type | # of Prop | Square Feet | % | Annual Rent | % |
---|---|---|---|---|---|
Office | 56 | 7,112,803 | 46.0% | $79,384,855 | 68.4% |
Industrial | 43 | 7,979,633 | 51.6% | $32,613,055 | 28.1% |
Retail | 4 | 381,933 | 2.5% | $4,137,796 | 3.6% |
Total | 103 | 15,474,369 | 100% | $116,135,706 | 100% |
BancAmerica Robertson Stephens, Jay Leupp
(415) 693-3575
Donaldson, Lufkin & Jenrette, Lawrence D. Raiman
(212) 892-2380
Goldman Sachs, David J. Kostin
(212) 902-6781
J. P. Morgan Securities Inc., Lee Schalop
(212) 648-9470
Jefferies & Company, Inc., Judy K. Hedin
(415) 263-1439
Merrill Lynch & Co., Eric I. Hemel
(212) 449-0334
Montgomery Securities, Willis C. Marks
(415) 627-0334
Smith Barney, David M. Sherman
(212) 816-8408
The Penobscot Group, Inc., Fred Carr
(617) 723-9600
UBS Securities L.L.C., Mary D. Hogan
(212) 821-5496
Van Kasper & Company, Charles F. Gunther
(415) 391-5600
Fitch Investors Service, John E. Bonfiglio
(212) 908-0500
Moody's Investors Service, Thierry B. Perrein
(212) 553-0376
Duff & Phelps Credit Rating Co., Scott J. O'Shea
(212) 908-0200
Standard & Poor's, Lisa Sarajian
(212) 208-1922
Credit Ratings:
Senior Unsecured Debt | Preferred Stock | |
Fitch | BBB+ | BBB |
Moody's | Baa2 | baa3 |
Duff & Phelps | BBB | BBB- |
S&P | BBB- | BB+ |
Regional
1000 Westlakes Drive, Suite 150
Berwyn, PA 19312
Tel: (610) 640-1300
Fax: (610) 640-5829
Regional
7406 Fullerton Street, Suite 105
Jacksonville, FL 32256
Tel: (904) 363-1172
Fax: (904) 363-1260
Regional
1500 RiverEdge Parkway, Suite 150
Atlanta, GA 30328
Tel: (770) 541-6300
Fax: (770) 541-6311
Regional
1321 Greenway Drive, Suite 110
Irving, TX 75038
Tel: (972) 580-0654
Fax: (770) 580-0754
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