Terreno Realty Corporation TRNO

66.07 (0.36) (0.54%) as of 25 Sep
Market cap
$7.2B
P/E
17.7×
Growth Flags show if company had growth for consecutive years

Insider Decisions

Total sells 1.85
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — 1 — — 1 — — — — — 3 —
Insider Ownership 0.00%

Capital & Financial Ratios

Market Cap 7,240.00
Revenue 502.88
Net Income 388.59
Free Cash Flow (686.58)
Net Debt 940.20
Current Ratio 0.43
Debt/Equity 0.22
P/E ratio 17.71
P/S ratio 14.00
P/B ratio 1.59
Past 5Y EPS Growth 17.60%
This Y EPS Growth (46.17%)
Next Y EPS Growth (11.53%)
Next 5Y EPS Growth (20.23%)
in millions of $

Dividends

Payout Ratio 0.87
Annual Dividend Rate 1.80
Annual Dividend Yield 2.67%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.16
0.52
0.52
0.57
2025 2.02
0.49
0.49
0.52
0.52
2024 1.88
0.45
0.45
0.49
0.49
2023 1.70
0.40
0.40
0.45
0.45
2022 1.48
0.34
0.34
0.40
0.40
2021 1.31
0.29
0.34
0.34
0.34
2020 1.12
0.27
0.27
0.29
0.29
2019 1.02
0.24
0.24
0.27
0.27
2018 0.92
0.22
0.22
0.24
0.24
2017 0.84
0.20
0.20
0.22
0.22
2016 0.76
0.18
0.18
0.20
0.20
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 165 18 25 51
Receivables — — — —
Inventory — — — —
Other — — — —
165 18 25 51
2023 2024 2025 Q'26
Payables 62 79 77 119
ST’ Debt — — — —
Other — — — —
62 79 77 119
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 17.39% 20.58% 19.92%
Cash Flow 20.51% 21.89% 23.82%
Earnings 43.34% 38.26% 26.72%
Book Value 18.92% 21.16% 22.97%

Revenue

Mar Jun Sep Dec Year
’26 124 125 — — —
’25 110 112 116 137 476
’24 85 94 100 104 383
’23 75 80 83 86 324
’22 64 65 71 76 276
’21 51 53 57 61 222
’20 45 46 47 49 187
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 62 75 — — —
’25 61 61 80 70 272
’24 47 64 70 51 233
’23 39 49 53 39 180
’22 28 35 46 34 143
’21 26 33 39 34 132
’20 22 23 32 24 101
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 37 (244) — — —
’25 14 (89) (429) (51) (555)
’24 (12) (434) 12 (320) (755)
’23 (349) 5 (20) (100) (464)
’22 (69) (194) (49) (45) (357)
’21 (86) (38) (147) (304) (575)
’20 (19) 4 14 (37) (38)
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 0.66 0.54 — — —
’25 0.47 0.90 1.00 1.53 3.91
’24 0.40 0.37 0.37 0.78 1.92
’23 0.29 0.48 0.36 0.68 1.81
’22 0.26 1.28 0.29 0.78 2.61
’21 0.24 0.25 0.30 0.44 1.23
’20 0.19 0.45 0.33 0.19 1.16
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
20.44 26.30 31.56 33.98 42.12 53.98 50.36 50.42 53.78 48.18

Analyst estimates 2026–2028

Powerpack
Low Price
29.08 38.54 39.62 58.21 64.24 86.00 85.92 67.03 71.63 69.20
High Price
19 22 23 24 26 34 40 42 49 47
Employees
6 6 7 7 7 7 7 8 8 10
Revenue/Emp
108 132 152 171 187 222 276 324 383 476
Revenue
72.03% 72.92% 73.63% 74.15% 73.73% 74.66% 75.05% 75.56% 74.36% 75.84%
Gross Margin
15 53 63 56 80 87 198 151 184 403
EBT
13.94% 40.08% 41.73% 32.46% 42.70% 39.32% 71.69% 46.81% 48.22% 84.59%
EBT Margin
15 53 63 56 80 87 198 151 184 403
Net Income
34 37 38 40 42 44 51 61 78 96
Depreciation
2.42 2.58 2.64 2.65 2.76 3.15 3.66 3.89 4.01 4.65
Revenue/Sh
0.26 0.95 1.09 0.86 1.17 1.23 2.61 1.81 1.92 3.92
Earnings/Sh
1.10 1.35 1.35 1.47 1.49 1.87 1.90 2.16 2.44 2.65
Cash Flow/Sh
(3.82) (6.32) (4.53) (4.63) (2.05) (10.03) (6.62) (7.74) (10.34) (8.07)
Capex/Sh
(2.72) (4.97) (3.18) (3.17) (0.56) (8.16) (4.72) (5.58) (7.90) (5.42)
Free CF/Sh
18.15 20.01 21.71 23.55 23.44 29.18 29.54 35.04 38.34 40.47
Book Value/Sh
45 51 57 64 68 71 75 83 96 102
Shares
109.50 36.74 32.56 63.69 50.01 69.34 21.73 34.79 30.80 15.02
PE Ratio
11.74 13.53 13.33 20.40 21.22 27.11 15.50 16.18 14.76 12.63
PS Ratio
1.66 1.74 1.62 2.30 2.50 2.92 1.92 1.80 1.54 1.45
PB Ratio
15.54 16.83 16.25 22.71 23.17 29.54 18.30 18.16 16.97 14.65
EV/Sales
(13.83) (8.74) (13.48) (19.04) (115.06) (11.40) (14.17) (12.67) (8.61) (12.58)
EV/FCF
49 69 78 95 101 132 143 180 233 272
Op' Cash Flow
(171) (325) (260) (299) (139) (708) (500) (643) (987) (827)
Capex
(122) (255) (183) (204) (38) (575) (357) (464) (755) (555)
FCF
(4) 14 6 82 80 159 (23) 104 (61) (52)
Working Cap'
425 473 474 506 473 745 798 804 863 991
Total Debt
411 437 443 396 366 540 772 639 845 966
Net Debt
812 1,027 1,248 1,517 1,588 2,058 2,230 2,915 3,662 4,146
Sh' Equity
0.94% 3.44% 3.74% 2.83% 3.74% 3.43% 6.48% 4.26% 4.24% 7.90%
ROA
1.09% 1.67% 1.82% 1.92% 2.18% 2.11% 2.27% 2.34% 2.05% 2.35%
ROIC
1.58% 5.47% 5.53% 3.99% 5.11% 4.77% 9.20% 5.86% 5.59% 10.28%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Terreno Realty Corporation peers in Reit Industrial

All 15 Reit Industrial stocks →

Terreno Realty Corporation (TRNO) key facts

  • Terreno Realty Corporation (TRNO) is a Reit Industrial company in the Real Estate sector, listed on the New York Stock Exchange.
  • Terreno Realty Corporation’s revenue for fiscal 2025 (year ended December 2025) was $476.4 million, up 24.5% from fiscal 2024.
  • As of September 25, 2026, TRNO traded at $66.07, a market capitalization of $7.2 billion.
  • Terreno Realty Corporation pays an annual dividend of $1.80 per share, a yield of 2.67%, with a payout ratio of 87.0%.
  • Return on equity was 10.3% and debt-to-equity 0.22.

Source: company filings (standardised) and stockrow calculations.

Terreno Realty Corporation (TRNO) Latest News

News by impact score

Fine-tune

3 Jul

3

Terreno Realty executed multiple new industrial property leases, raising portfolio occupancy and rental revenue. Leasing updates directly affect occupancy and near-term revenue for the industrial REIT.

28 Jun

4

Terreno Realty acquires coastal industrial properties and secures leases that could alter investment considerations for TRNO. Coastal industrial acquisitions and leases mark major strategic expansions likely to shift Terreno Realty performance and investor views.

26 Jun

3

Terreno Realty Corporation reports strong leasing activity that supports a positive future outlook. Strong leasing activity signals improved occupancy and revenue stability for the REIT.

19 Jun

3

Terreno Realty Corporation advances its acquisition spree via a new property deal in Hialeah. Ongoing acquisitions expand Terreno Realty's asset base and support long-term growth in core markets.

18 Jun

3

Terreno Realty Corporation acquired a Landover property for $77.1 million, expanding its portfolio. Acquisition adds assets at scale that can lift financials and positioning yet stays within normal operations.

10 Jun

3

Terreno Realty Corporation secured new leases that reinforce its future growth outlook. Lease wins raise occupancy and rental revenue for the industrial property owner.

8 Jun

3

Terreno Realty Corporation acquired a Bay Area property for $25.9 million, expanding its industrial portfolio. $25.9 million Bay Area acquisition expands asset base and may moderately affect financial performance and positioning.

7 May

4

Terreno Realty Corporation (TRNO) reported strong Q1 earnings and expanded its portfolio, prompting a valuation review amid positive market sentiment. Strong Q1 earnings and portfolio expansion represent major growth drivers that boost TRNO's financial trajectory and investor confidence.

25 Apr

4

Terreno Realty Corporation (TRNO) secured new long-term industrial leases, prompting debate on whether they should alter investors' assessment of the company's strategic direction. New long-term industrial leases signal strong demand, enhance revenue stability, and could significantly boost TRNO's market performance and investor confidence.

17 Apr

3

Terreno Realty Corporation's April leasing deals are potentially fueling its growth outlook amid questions on their impact. April leasing deals offer moderately noticeable boost to Terreno Realty's financial performance and market sentiment.

14 Apr

3

Terreno Realty Corporation announces completion of property development in Hialeah. Property development completion expands Terreno's portfolio and supports revenue growth without fundamentally altering its trajectory.

9 Apr

3

Terreno Realty Corporation's Q1 update assesses whether occupancy rates and rent growth trends remain robust amid market conditions. Q1 occupancy and rent trends directly affect TRNO's revenue, FFO, and REIT valuation but represent routine quarterly performance.

8 Apr

3

Terreno Realty Corporation announced quarterly operating results, including leasing activity, property acquisitions and dispositions, and capital markets transactions. Quarterly operating, investment, and capital markets updates directly affect TRNO's revenue, portfolio growth, and investor sentiment in the short to medium term.

5 Apr

4

Terreno Realty Corporation (TRNO) secured a pre-lease at Countyline and renewed a lease in Newark, moves that could fundamentally reshape its industrial real estate strategy. Countyline pre-lease and Newark renewal constitute major strategic leasing actions poised to influence TRNO's industrial portfolio trajectory and investor outlook.

3 Mar

3

Terreno Realty (TRNO) faces valuation scrutiny following mixed signals from recent earnings report and cash flow models, prompting analysts to reassess the industrial REIT's worth amid operational performance concerns. Mixed earnings and cash flow signals moderately influence TRNO's financial outlook and investor sentiment without fundamentally altering its trajectory.

19 Feb

3

Terreno Realty Corporation acquired a property in Queens, NY for $92.0 million. The $92 million acquisition expands TRNO's industrial property portfolio in a major market, moderately boosting assets and potential revenue.

5 Feb

4

Terreno Realty Corporation reported its Q4 earnings, highlighting key financial metrics and operational performance. The company continues to focus on its strategic initiatives in the industrial real estate sector, showcasing growth in rental income and occupancy rates. Management provided insights into future expectations and market conditions, emphasizing their commitment to expanding their portfolio in key markets. Overall, the earnings report reflects a positive trajectory for the company amidst a competitive landscape. The earnings report indicates significant growth and strategic initiatives that could alter the company's future performance.

4 Feb

3

Terreno Realty Corporation has declared its quarterly dividend and filed its annual financial statements for 2025. The company continues to demonstrate its commitment to returning value to shareholders while maintaining transparency in its financial reporting. The declaration of a dividend and filing of financial statements indicate stable operations but do not signal any major changes in strategy or market dynamics.

31 Jan

3

Terreno Realty Corporation (TRNO) has experienced mixed short and long-term returns, prompting a valuation check. The company's performance reflects fluctuations in the real estate market, influenced by various economic factors. Investors are assessing TRNO's potential for growth amid these challenges, weighing its strategic decisions and market positioning. Mixed returns indicate a moderately noticeable influence on TRNO's financial performance and market sentiment.

30 Jan

4

Terreno Realty Corporation is focusing on redeveloping a landfill site in Miami into industrial space, aiming to enhance its competitive edge in the market. This strategy is expected to attract investors by increasing the availability of modern logistics facilities in a high-demand area. The redevelopment aligns with the growing trend of urban industrialization, potentially positioning Terreno favorably against competitors. The redevelopment strategy is likely to significantly enhance Terreno's market position and investor appeal in a competitive landscape.

26 Jan

3

Plymouth Industrial has received approval from its stockholders for an acquisition, which is expected to enhance its portfolio and operational capabilities. This strategic move aligns with Plymouth's growth objectives and aims to strengthen its market position in the industrial real estate sector. The acquisition approval may moderately influence Plymouth's operational capabilities and market positioning, but its overall effect on Terreno Realty Corporation's trajectory is expected to be limited.

21 Jan

3

Prologis reported a Q4 FFO that exceeded estimates, showcasing strong performance in the logistics real estate sector. The company highlighted robust demand for warehouse space, driven by e-commerce growth and supply chain adjustments. Prologis also provided an optimistic outlook for the upcoming year, indicating continued growth potential in its operations and investments. Prologis' strong performance and outlook may influence market sentiment and competitive positioning in the logistics real estate sector, indirectly affecting Terreno Realty Corporation.

20 Jan

4

Terreno Realty Corporation has completed the development of a new industrial property in Hialeah, Florida. The facility spans 100,000 square feet and is strategically located near major transportation routes, enhancing its appeal for logistics and distribution operations. This development aligns with the company's strategy to expand its portfolio in key markets. The completion of a significant industrial property is likely to enhance Terreno Realty's market position and financial performance.

4

Terreno Realty Corporation (TRNO) is highlighted as a top dividend stock for January 2026, showcasing its strong financial performance and consistent dividend payouts. The company focuses on acquiring and operating industrial real estate in major coastal U.S. markets, benefiting from increasing demand for logistics and distribution facilities. Investors are encouraged to consider TRNO for its reliable income potential and growth prospects in the industrial sector. Terreno Realty Corporation's focus on industrial real estate positions it well to capitalize on market dynamics, significantly impacting its future performance.

14 Jan

3

Barclays has raised its price target for Terreno Realty Corporation (TRNO) from $57 to $60, reflecting a positive outlook on the company's performance and market position. A price target increase indicates a moderately positive sentiment towards the company's future performance.

8 Jan

3

Terreno Realty Corporation has successfully closed a $200 million five-year unsecured term loan. This financing is intended to enhance the company's liquidity and support its growth strategy. The loan will be used for general corporate purposes, including potential acquisitions and capital expenditures. The loan enhances liquidity and supports growth, which may moderately influence financial performance.

7 Jan

4

Terreno Realty Corporation reported its quarterly operating, investment, and capital markets activities, highlighting key developments in its portfolio and financial performance. The company continues to focus on strategic acquisitions and property management to enhance its market position. Recent transactions and operational metrics indicate a positive trajectory for growth and investor confidence. Significant strategic moves and investment activities are expected to enhance the company's market position and financial performance.

5 Jan

4

Terreno Realty Corporation (TRNO) has successfully leased its Long Island City redevelopment project through 2036, indicating strong demand for industrial space in the area. This long-term lease is expected to enhance TRNO's revenue stability and growth potential, reflecting positive investor sentiment towards the company's strategic positioning in the market. The long-term lease significantly enhances revenue stability and growth potential, impacting TRNO's future performance.

3

Alpine Income Property Trust has made strategic acquisitions in 2025 that significantly reshaped its portfolio, focusing on enhancing its retail and industrial properties. These moves are aimed at optimizing asset performance and aligning with market trends, potentially increasing long-term value for investors. The portfolio reshaping may moderately influence financial performance and competitive positioning.

2 Jan

3

Prologis has experienced a 9.1% stock rally over the past three months, raising questions about its sustainability. Analysts are evaluating market conditions, including demand for logistics real estate and potential economic headwinds, to determine if this upward trend can continue. Investors are particularly focused on Prologis' ability to maintain occupancy rates and rental growth amid changing market dynamics. The overall sentiment remains cautious as the company navigates these challenges. Prologis' stock performance is influenced by broader market conditions that could moderately affect Terreno Realty's competitive positioning.

stockrow.com/TRNO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com