Terreno Realty Corporation (TRNO)

US — Real Estate Sector
Peers: REXR  PLYM  EGP  LXP  HPP  UE  ELS 

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Key Metrics & Ratings

  • symbol TRNO
  • Rev/Share 4.1404
  • Book/Share 38.323
  • PB 1.4883
  • Debt/Equity 0.1883
  • CurrentRatio 1.5344
  • ROIC 0.034

 

  • MktCap 5891829570.0
  • FreeCF/Share 1.7968
  • PFCF 31.871
  • PE 23.0905
  • Debt/Assets 0.149
  • DivYield 0.0344
  • ROE 0.0672

 

  • Rating A-
  • Score 4
  • Recommendation Buy
  • P/E Score 2
  • DCF Score 4
  • P/B Score 2
  • D/E Score 4

Recent Analyst Ratings

Type Ticker Analyst Firm Previous Rating Current Rating Previous Price Target Current Price Target Date
Downgrade TRNO Piper Sandler Overweight Neutral -- $61 April 7, 2025
Upgrade TRNO Goldman Neutral Buy $65 $77 Feb. 21, 2025
Initiation TRNO BMO Capital Markets -- Market Perform -- $71 Feb. 4, 2025
Initiation TRNO Deutsche Bank -- Hold -- $60 Jan. 14, 2025
Downgrade TRNO Barclays Overweight Equal Weight $68 $60 Jan. 13, 2025
Downgrade TRNO Mizuho Neutral Underperform -- $62 Sept. 5, 2024
Downgrade TRNO Wells Fargo Overweight Equal Weight $71 $75 Aug. 28, 2024

News

Top 3 Equity REITs Worth Buying as Industry Prospects Improve
DEA, TRNO, WELL
Published: August 27, 2025 by: Zacks Investment Research
Sentiment: Positive

Welltower, Terreno Realty and Easterly Government Properties stand out as the Equity Trust - Other industry is poised to gain from shifting trends and demand drivers.

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image for news Top 3 Equity REITs Worth Buying as Industry Prospects Improve
Terreno Realty Corporation Announces Leases in Hialeah, FL
TRNO
Published: August 25, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Announces Leases in Hialeah, FL.

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image for news Terreno Realty Corporation Announces Leases in Hialeah, FL
Terreno Realty: Growing, Largely In Nominal Terms
TRNO
Published: August 14, 2025 by: Seeking Alpha
Sentiment: Positive

Terreno Realty Corporation's coastal strategy and focus on high-demand, supply-constrained markets supports long-term growth, but per-share growth remains modest due to continued dilution. Valuations have become more reasonable, with shares now trading at 21–22x FFO offering a nearly 4% dividend yield, providing some fundamental support. Recent acquisition and divestment activity appears fairly valued but not clearly accretive, while ongoing capital allocation raises concerns about profitable per-share growth.

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image for news Terreno Realty: Growing, Largely In Nominal Terms
Terreno Realty Expands Footprint With $232.6M Woodinville Acquisition
TRNO
Published: August 14, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO's $232.6 million Woodinville deal adds nine industrial buildings, advancing its long-term growth and portfolio expansion strategy.

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image for news Terreno Realty Expands Footprint With $232.6M Woodinville Acquisition
Terreno Realty Secures Early Lease Renewal, Witnesses Healthy Demand
TRNO
Published: August 13, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO secures major lease renewals and expansions, driving rent growth despite tenant caution amid economic uncertainty.

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image for news Terreno Realty Secures Early Lease Renewal, Witnesses Healthy Demand
Terreno Realty Corporation Acquires Portfolio in Woodinville, WA for $232.6 Million
TRNO
Published: August 13, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Acquires Portfolio in Woodinville, WA for $232.6 Million.

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image for news Terreno Realty Corporation Acquires Portfolio in Woodinville, WA for $232.6 Million
TRNO Continues Portfolio-Rebalancing Efforts, Buys Asset in California
TRNO
Published: August 12, 2025 by: Zacks Investment Research
Sentiment: Positive

Terreno Realty acquires a $35.5M Redondo Beach industrial site, expanding its portfolio in key U.S. coastal markets.

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image for news TRNO Continues Portfolio-Rebalancing Efforts, Buys Asset in California
Terreno Realty Corporation Announces Lease in Washington, D.C.
TRNO
Published: August 12, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Announces Lease in Washington, D.C.

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image for news Terreno Realty Corporation Announces Lease in Washington, D.C.
TRNO on a Selling Spree: Disposes of Another Asset in California
TRNO
Published: August 11, 2025 by: Zacks Investment Research
Sentiment: Positive

Terreno Realty sells a Santa Fe Springs property for $11M, advancing its non-core asset strategy and boosting portfolio strength.

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image for news TRNO on a Selling Spree: Disposes of Another Asset in California
Terreno Realty Corporation Sells Property in Santa Fe Springs, CA for $11.0 Million
TRNO
Published: August 08, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Sells Property in Santa Fe Springs, CA for $11.0 Million.

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image for news Terreno Realty Corporation Sells Property in Santa Fe Springs, CA for $11.0 Million
Terreno Realty Corporation Sells Portfolio in Doral, FL for $82.3 Million
TRNO
Published: July 29, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Sells Portfolio in Doral, FL for $82.3 Million.

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image for news Terreno Realty Corporation Sells Portfolio in Doral, FL for $82.3 Million
Terreno Realty's Rent Rises in Q2, Occupancy Improves Y/Y
TRNO
Published: July 10, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO's Q2 update highlights rent growth and improved occupancy year over year amid healthy demand for industrial real estate assets.

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image for news Terreno Realty's Rent Rises in Q2, Occupancy Improves Y/Y
Terreno Realty Announces Leases in California, Sees Healthy Demand
TRNO
Published: July 08, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO's securing of a renewal and expansion leases at Santa Clara, CA, with a designer and developer of eVTOL aircraft, highlights healthy demand for its properties.

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image for news Terreno Realty Announces Leases in California, Sees Healthy Demand
Terreno Realty Corporation Announces Leases in Santa Clara, CA
TRNO
Published: July 07, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Announces Leases in Santa Clara, CA.

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image for news Terreno Realty Corporation Announces Leases in Santa Clara, CA
TRNO Eyes Growth With New York and California Property Buyouts
TRNO
Published: July 02, 2025 by: Zacks Investment Research
Sentiment: Neutral

TRNO targets high-demand coastal hubs with recent acquisitions in New York and California, reinforcing its industrial real estate strategy.

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image for news TRNO Eyes Growth With New York and California Property Buyouts
Terreno Realty Corporation Acquires Property in Queens, NY for $31.1 Million
TRNO
Published: July 01, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Acquires Property in Queens, NY for $31.1 Million.

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image for news Terreno Realty Corporation Acquires Property in Queens, NY for $31.1 Million
Terreno Realty Executes Lease in New Jersey, Sees Healthy Demand
TRNO
Published: June 30, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO executes an 81K sq ft lease with a third-party logistics provider, extending its strong industrial leasing momentum into 2025.

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image for news Terreno Realty Executes Lease in New Jersey, Sees Healthy Demand
Terreno Realty Executes Lease in CA, Sees Healthy Demand
TRNO
Published: June 27, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO inks a 103K sq ft lease with a space mobility firm, extending its strong industrial leasing momentum into 2025.

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image for news Terreno Realty Executes Lease in CA, Sees Healthy Demand
Terreno Realty Corporation Announces Lease in Avenel, NJ
TRNO
Published: June 27, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Announces Lease in Avenel, NJ.

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image for news Terreno Realty Corporation Announces Lease in Avenel, NJ
Terreno Realty Corporation Announces Lease in Redondo Beach, CA
TRNO
Published: June 26, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Announces Lease in Redondo Beach, CA.

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image for news Terreno Realty Corporation Announces Lease in Redondo Beach, CA
Terreno Realty Continues Acquisition Spree With Buyout in Santa Ana
TRNO
Published: June 24, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO takes over a fully leased Santa Ana asset for $49.5M, expanding its coastal portfolio through strategic acquisitions.

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image for news Terreno Realty Continues Acquisition Spree With Buyout in Santa Ana
Terreno Realty Expands Portfolio With Property Buyout in Queens
TRNO
Published: June 20, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO's recent spate of acquisitions of industrial properties is likely to aid it in banking on solid industrial real estate market tailwinds.

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image for news Terreno Realty Expands Portfolio With Property Buyout in Queens
Terreno Realty Corporation Acquires Property in Queens, NY for $16.0 Million
TRNO
Published: June 19, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Acquires Property in Queens, NY for $16.0 Million.

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image for news Terreno Realty Corporation Acquires Property in Queens, NY for $16.0 Million
Terreno Realty Bolsters Portfolio With Property Buyout in Los Angeles
TRNO
Published: June 10, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO snaps up a fully leased Los Angeles industrial property for $10M, boosting its strategic coastal portfolio.

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image for news Terreno Realty Bolsters Portfolio With Property Buyout in Los Angeles
Terreno Realty Corporation Acquires Property in Los Angeles, CA for $10.0 Million
TRNO
Published: June 09, 2025 by: Business Wire
Sentiment: Neutral

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Acquires Property in Los Angeles, CA for $10.0 Million.

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image for news Terreno Realty Corporation Acquires Property in Los Angeles, CA for $10.0 Million
Terreno Sells Property in Commerce, CA, Boosts Financial Flexibility
TRNO
Published: May 28, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO disposes of an industrial property in Commerce, CA, aiming to achieve financial flexibility and long-term growth.

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image for news Terreno Sells Property in Commerce, CA, Boosts Financial Flexibility
Terreno Realty Sells Industrial Asset in Bellevue, Boosts Flexibility
TRNO
Published: May 26, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO sells vacant Bellevue asset for $17.5M, locking in 11.1% IRR and boosting portfolio flexibility for future growth.

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image for news Terreno Realty Sells Industrial Asset in Bellevue, Boosts Flexibility
Terreno Realty Witnesses Healthy Demand, Executes Lease in CA
TRNO
Published: May 22, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO executes a 3.0-acre improved land parcel lease in Rancho Dominguez, CA, and witnesses healthy demand for its properties.

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image for news Terreno Realty Witnesses Healthy Demand, Executes Lease in CA
Terreno Realty Announces Lease Renewal in WA, Sees Healthy Demand
TRNO
Published: May 21, 2025 by: Zacks Investment Research
Sentiment: Positive

TRNO secures a 53,000-square-foot lease renewal from the United States Postal Service in Washington, D.C., highlighting healthy demand for its properties.

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image for news Terreno Realty Announces Lease Renewal in WA, Sees Healthy Demand
Terreno Realty: Buying At Premiums Again
TRNO
Published: May 07, 2025 by: Seeking Alpha
Sentiment: Negative

Terreno Realty's has a sound long-term investment philosophy and a focus on coastal industrial real estate, with a track record which backs this up. The company reported 2024 rental revenues of $382 million, driven by same-store rent growth and acquisitions, with adjusted FFO rising to $2.42 per share. Despite a strong balance sheet, recent aggressive acquisitions at lower cap rates raise concerns about sustaining long-term value creation.

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image for news Terreno Realty: Buying At Premiums Again

About Terreno Realty Corporation (TRNO)

  • IPO Date 2010-02-10
  • Website https://www.terreno.com
  • Industry REIT - Industrial
  • CEO W. Blake Baird
  • Employees 49

{Terreno Realty Corporation and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, 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, 2020, the Company owned 219 buildings aggregating approximately 13.1 million square feet, 22 improved land parcels consisting of approximately 85.0 acres and one property under redevelopment expected to contain approximately 0.2 million square feet upon completion. The Company is an internally managed Maryland corporation and elected to be taxed as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the Code), commencing with its taxable year ended December 31, 2010.}