Terreno Realty Corporation

Valuation Analysis

About the Company

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets. It includes New York City, Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. All square feet, acres, occupancy and number of properties disclosed in these condensed notes to the consolidated financial statements are unaudited. As of September 30, 2025, the Company owned 307 buildings (including one property consisting of two buildings held for sale) aggregating approximately 20.2 million square feet, 44 improved land parcels consisting of approximately 146.4 acres, six properties under development or redevelopment and approximately 10.7 acres of land for future development. The Company is an internally managed Maryland corporation and

Terreno Realty Corporation Stock at a Glance

Terreno Realty Corporation (TRNO) is currently trading at $67.27 with a market capitalization of $7.1B. The trailing P/E ratio stands at 16.41x, with a forward P/E of 38.95x. The 52-week range spans from $53.00 to $67.83; the current price is 0.8% below the yearly high. Year-over-year revenue growth stands at +12.7%. The net profit margin stands at 86.52%.

💰 Dividend

Terreno Realty Corporation pays an annual dividend of $2.08 per share, representing a yield of 3.09%. The payout ratio stands at 50%.

📊 Analyst Rating

17 analysts rate Terreno Realty Corporation (TRNO) on consensus: Buy. The average price target is $70.06, implying +4.15% from the current price. Analyst price targets range from $56.00 to $80.00.

Terreno Realty Corporation: The Investment Case in Detail

Terreno Realty Corporation (TRNO) operates in the Real Estate — specifically REIT - Industrial — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

The Bull Case

Revenue is growing at a healthy 12.7% pace year-over-year, suggesting the business model continues to find new customers and pricing power. Earnings growth of 40.2% is outpacing revenue, a sign of operational leverage — fixed costs are being absorbed across a larger base. With a gross margin near 75.91%, the company sits in the top tier of its industry — these are the kinds of structural margins that protect earnings during downturns.

Valuation in Context

At a PEG of 7.15, investors are paying more than three times the growth rate for each unit of earnings — that pricing assumes growth not only continues but accelerates from here. The EV/EBITDA multiple of 27.18x reflects rich expectations — historically, multiples at this level have proven hard to maintain for more than a few quarters.

What to Watch Next

• The share is trading at 96.2% of its 52-week range — a break above the recent high opens technical upside, a failure here often invites profit-taking.
• The dividend yield near 3.09% combined with a payout ratio of 50% leaves room for further hikes — a track record of consecutive raises is a strong income signal.

Investment Thesis: Strengths & Weaknesses

Technical Snapshot

Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).

Risk Profile

The data points to market-like volatility, elevated short interest (8.93%).

Trading Data

💵 Dividend Info

Related Stocks in the Same Sector

Where can I buy Terreno Realty Corporation?

Compare top-rated brokers — low fees, trusted providers, fully regulated.