Symbols / TRNO Stock $65.28 -1.58% Terreno Realty Corporation

Real Estate • REIT - Industrial • United States • NYQ
TRNO (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Real Estate
Industry REIT - Industrial
CEO Mr. W. Blake Baird
Exch · Country NYQ · United States
Market Cap 6.94B
Enterprise Value 7.72B
Income 401.19M
Sales 476.38M
FCF (ttm) 208.63M
Book/sh 40.03
Cash/sh 0.24
Employees 47
Insider 10d —
IPO Feb 10, 2010
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 51.66%
P/E 16.70
Forward P/E 42.75
PEG 7.15
P/S 14.56
P/B 1.63
P/C —
EV/EBITDA 27.12
EV/Sales 16.21
Quick Ratio 0.72
Current Ratio 0.74
Debt/Eq 22.83
LT Debt/Eq —
EPS (ttm) 3.91
EPS next Y 1.53
EPS Growth 99.60%
Revenue Growth 32.60%
EPS Gr Q/Q 107.90%
Rev Gr Q/Q —
Earnings (next) 2026-05-06
Earnings (prior) 2026-02-04
ROA 2.37%
ROE 10.32%
ROIC —
Gross Margin 75.84%
Oper. Margin 42.01%
Profit Margin 84.59%
Shs Outstand 106.26M
Shs Float 102.09M
Insider Own 1.92%
Instit Own 107.08%
Short Float 9.76%
Short Ratio 10.35
Short Interest 5.90M
52W High 67.55
vs 52W High -3.36%
52W Low 53.00
vs 52W Low 23.17%
Beta 1.14
Impl. Vol. 80.64%
Rel Volume 0.64
Avg Volume 666.45K
Volume 423.51K
Target (mean) $69.82
Tgt Median $70.00
Tgt Low $56.00
Tgt High $80.00
# Analysts 17
Recom Buy
Prev Close $66.33
Price $65.28
Change -1.58%
About

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 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, commencing with its taxable year ended December 31, 2010. Terreno Realty Corporation was incorporated on 6th November 2009 in Maryland, USA.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$69.82
Mean price target
2. Current target
$65.28
Latest analyst target
3. DCF / Fair value
$35.34
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$65.28
Low
$56.00
High
$80.00
Mean
$69.82

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-10 main Citigroup Neutral → Neutral $70
2026-02-09 main Piper Sandler Overweight → Overweight $79
2026-02-09 main Keybanc Overweight → Overweight $72
2026-02-06 main Citizens Market Outperform → Market Outperform $70
2026-02-06 main Cantor Fitzgerald Overweight → Overweight $75
2026-01-14 main Scotiabank Sector Outperform → Sector Outperform $69
2026-01-08 up Baird Neutral → Outperform $64
2025-12-04 main Keybanc Overweight → Overweight $68
2025-12-04 main Mizuho Underperform → Underperform $56
2025-11-25 main Wells Fargo Equal-Weight → Equal-Weight $63
2025-11-13 main Citigroup Neutral → Neutral $64
2025-11-10 up Scotiabank Sector Perform → Sector Outperform $67
2025-10-21 main Goldman Sachs Buy → Buy $71
2025-10-01 init Cantor Fitzgerald — → Overweight $70
2025-09-18 main Piper Sandler Neutral → Neutral $60
2025-09-15 main Barclays Equal-Weight → Equal-Weight $57
2025-08-27 main Wells Fargo Equal-Weight → Equal-Weight $60
2025-08-21 main Keybanc Overweight → Overweight $64
2025-07-13 main Wells Fargo Equal-Weight → Equal-Weight $72
2025-05-27 main Barclays Equal-Weight → Equal-Weight $56
News
RSS: Latest TRNO news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-02-09 CANNON JAIME JACKSON Chief Financial Officer — 7,000 $65.99 $461,930
2026-01-07 BAIRD W BLAKE Chief Executive Officer — 29,890 $0.00 $0
2026-01-07 COKE MICHAEL A President — 29,890 $0.00 $0
2026-01-07 CANNON JAIME JACKSON Chief Financial Officer — 5,757 $0.00 $0
2026-01-07 MEYER JOHN TULL Officer — 7,127 $0.00 $0
2025-11-07 MEYER JOHN TULL Officer — 4,758 $59.95 $285,242
2025-08-14 COKE MICHAEL A President — 10,000 $53.96 $539,600
2025-08-05 BAIRD W BLAKE Chief Executive Officer — 28,840 $0.00 $0
2025-08-05 COKE MICHAEL A President — 28,840 $0.00 $0
2025-08-05 CANNON JAIME JACKSON Chief Financial Officer — 13,519 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
476.38
+24.51%
382.62
+18.24%
323.59
+17.15%
276.21
Operating Revenue
379.38
+26.47%
299.97
-7.30%
323.59
+17.15%
276.21
Cost Of Revenue
115.10
+17.34%
98.09
+24.03%
79.08
+14.78%
68.90
Reconciled Cost Of Revenue
144.40
+25.16%
115.37
+24.05%
93.01
+9.20%
85.17
Gross Profit
361.28
+26.97%
284.53
+16.37%
244.50
+17.94%
207.31
Operating Expense
168.85
+23.70%
136.50
+22.81%
111.15
+14.64%
96.95
Selling General And Administration
47.27
+10.99%
42.59
+12.26%
37.94
+21.62%
31.19
General And Administrative Expense
47.27
+10.99%
42.59
+12.26%
37.94
+21.62%
31.19
Other Gand A
47.27
+10.99%
42.59
+12.26%
37.94
+21.62%
31.19
Total Expenses
283.95
+21.04%
234.59
+23.31%
190.24
+14.70%
165.86
Operating Income
192.43
+30.00%
148.03
+11.01%
133.35
+20.84%
110.35
EBITDA
557.43
+86.22%
299.33
+19.99%
249.47
-13.27%
287.63
Normalized EBITDA
319.34
+25.71%
254.03
+20.09%
211.53
+19.56%
176.93
Reconciled Depreciation
92.28
+20.42%
76.63
+29.23%
59.30
+19.81%
49.49
EBIT
435.85
+112.18%
205.42
+16.55%
176.25
-20.56%
221.86
Total Unusual Items
238.09
+425.50%
45.31
+19.42%
37.94
-65.73%
110.70
Total Unusual Items Excluding Goodwill
238.09
+425.50%
45.31
+19.42%
37.94
-65.73%
110.70
Special Income Charges
-0.35
-381.94%
-0.07
+66.97%
-0.22
+85.12%
-1.47
Restructuring And Mergern Acquisition
0.35
+381.94%
0.07
-66.97%
0.22
-85.12%
1.47
Net Income
402.99
+118.43%
184.50
+21.81%
151.46
-23.51%
198.01
Pretax Income
402.99
+118.43%
184.50
+21.81%
151.46
-23.51%
198.01
Net Non Operating Interest Income Expense
-27.53
-211.48%
-8.84
+55.44%
-19.83
+13.93%
-23.04
Interest Expense Non Operating
32.86
+57.05%
20.92
-15.63%
24.80
+3.97%
23.85
Net Interest Income
-27.53
-211.48%
-8.84
+55.44%
-19.83
+13.93%
-23.04
Interest Expense
32.86
+57.05%
20.92
-15.63%
24.80
+3.97%
23.85
Interest Income Non Operating
5.33
-55.90%
12.08
+143.41%
4.96
+513.60%
0.81
Interest Income
5.33
-55.90%
12.08
+143.41%
4.96
+513.60%
0.81
Other Income Expense
238.09
+425.50%
45.31
+19.42%
37.94
-65.73%
110.70
Gain On Sale Of Security
238.43
+425.43%
45.38
+18.93%
38.16
-65.98%
112.17
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
50.00
+425.50%
9.51
+19.42%
7.97
-65.73%
23.25
Net Income Including Noncontrolling Interests
402.99
+118.43%
184.50
+21.81%
151.46
-23.51%
198.01
Net Income From Continuing Operation Net Minority Interest
402.99
+118.43%
184.50
+21.81%
151.46
-23.51%
198.01
Net Income From Continuing And Discontinued Operation
402.99
+118.43%
184.50
+21.81%
151.46
-23.51%
198.01
Net Income Continuous Operations
402.99
+118.43%
184.50
+21.81%
151.46
-23.51%
198.01
Normalized Income
214.90
+44.52%
148.70
+22.40%
121.49
+9.88%
110.56
Net Income Common Stockholders
401.19
+118.39%
183.71
+21.87%
150.75
-23.54%
197.16
Otherunder Preferred Stock Dividend
1.80
+127.43%
0.79
+11.10%
0.71
-16.63%
0.85
Diluted EPS
3.91
+103.65%
1.92
+6.08%
1.81
-30.65%
2.61
Basic EPS
3.92
+104.17%
1.92
+6.08%
1.81
-30.65%
2.61
Basic Average Shares
102.46
+7.26%
95.52
+14.86%
83.17
+10.16%
75.50
Diluted Average Shares
102.72
+7.18%
95.84
+14.96%
83.37
+10.30%
75.59
Diluted NI Availto Com Stockholders
401.19
+118.39%
183.71
+21.87%
150.75
-23.54%
197.16
Depreciation Amortization Depletion Income Statement
121.58
+29.46%
93.92
+28.27%
73.22
+11.34%
65.76
Depreciation And Amortization In Income Statement
121.58
+29.46%
93.92
+28.27%
73.22
+11.34%
65.76
Line Item Trend 2025-12-31 2024-12-31 2023-12-31
Total Assets
5,388.08
+12.95%
4,770.16
+22.17%
3,904.68
Current Assets
27.93
+13.50%
24.61
-85.20%
166.24
Cash Cash Equivalents And Short Term Investments
25.02
+38.46%
18.07
-89.07%
165.40
Cash And Cash Equivalents
25.02
+38.46%
18.07
-89.07%
165.40
Restricted Cash
0.57
+101.42%
0.28
-66.27%
0.84
Assets Held For Sale Current
2.34
-62.54%
6.26
0.00
Total Non Current Assets
5,360.15
+12.95%
4,745.55
+26.94%
3,738.44
Goodwill And Other Intangible Assets
223.55
+7.23%
208.47
+56.35%
133.34
Other Non Current Assets
101.75
+12.82%
90.19
+20.12%
75.08
Total Liabilities Net Minority Interest
1,241.81
+12.09%
1,107.82
+11.90%
990.05
Current Liabilities
331.46
+57.77%
210.09
+108.35%
100.83
Payables And Accrued Expenses
131.46
+2.63%
128.09
+27.03%
100.83
Payables
131.46
+2.63%
128.09
+27.03%
100.83
Accounts Payable
77.33
-2.38%
79.22
+28.22%
61.78
Dividends Payable
54.13
+10.77%
48.87
+25.14%
39.05
Current Debt And Capital Lease Obligation
200.00
+143.90%
82.00
—
Current Debt
200.00
+143.90%
82.00
—
Total Non Current Liabilities Net Minority Interest
910.35
+1.40%
897.74
+0.96%
889.22
Long Term Debt And Capital Lease Obligation
743.34
+0.26%
741.44
-3.90%
771.56
Long Term Debt
743.34
+0.26%
741.44
-3.90%
771.56
Other Non Current Liabilities
167.01
+6.85%
156.30
+32.85%
117.65
Stockholders Equity
4,146.28
+13.21%
3,662.33
+25.65%
2,914.63
Common Stock Equity
4,146.28
+13.21%
3,662.33
+25.65%
2,914.63
Capital Stock
1.04
+4.33%
0.99
+13.47%
0.88
Common Stock
1.04
+4.33%
0.99
+13.47%
0.88
Share Issued
104.10
+4.38%
99.74
+13.34%
88.00
Ordinary Shares Number
103.57
+4.37%
99.24
+13.43%
87.49
Treasury Shares Number
0.53
+6.11%
0.50
-2.26%
0.51
Additional Paid In Capital
3,888.96
+8.11%
3,597.15
+26.22%
2,849.96
Retained Earnings
289.12
+203.42%
95.29
-0.30%
95.58
Total Equity Gross Minority Interest
4,146.28
+13.21%
3,662.33
+25.65%
2,914.63
Total Capitalization
4,889.61
+11.03%
4,403.77
+19.47%
3,686.19
Working Capital
-303.53
-63.65%
-185.48
-383.60%
65.40
Invested Capital
5,089.61
+13.46%
4,485.77
+21.69%
3,686.19
Total Debt
943.34
+14.56%
823.44
+6.72%
771.56
Net Debt
918.32
+14.02%
805.37
+32.86%
606.16
Net Tangible Assets
3,922.73
+13.58%
3,453.86
+24.18%
2,781.29
Tangible Book Value
3,922.73
+13.58%
3,453.86
+24.18%
2,781.29
Investment Properties
5,034.85
+13.22%
4,446.88
+25.97%
3,530.03
Line Of Credit
200.00
+143.90%
82.00
0.00
Other Equity Interest
-32.85
-5.63%
-31.10
+2.17%
-31.79
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
271.86
+16.84%
232.69
+29.50%
179.68
+25.46%
143.21
Cash Flow From Continuing Operating Activities
271.86
+16.84%
232.69
+29.50%
179.68
+25.46%
143.21
Net Income From Continuing Operations
402.99
+118.43%
184.50
+21.81%
151.46
-23.51%
198.01
Depreciation Amortization Depletion
92.28
+20.42%
76.63
+29.23%
59.30
+19.81%
49.49
Depreciation
121.58
+29.46%
93.92
+28.27%
73.22
+11.34%
65.76
Amortization Cash Flow
-29.30
-69.53%
-17.28
-24.15%
-13.92
+14.44%
-16.27
Depreciation And Amortization
92.28
+20.42%
76.63
+29.23%
59.30
+19.81%
49.49
Amortization Of Intangibles
-29.30
-69.53%
-17.28
-24.15%
-13.92
+14.44%
-16.27
Other Non Cash Items
-12.01
-59.21%
-7.54
-8.95%
-6.92
+13.25%
-7.98
Stock Based Compensation
17.72
+18.73%
14.93
+10.84%
13.47
+32.40%
10.17
Operating Gains Losses
-238.43
-425.43%
-45.38
-18.93%
-38.16
+65.98%
-112.17
Gain Loss On Investment Securities
-238.43
-425.43%
-45.38
-18.93%
-38.16
+65.98%
-112.17
Change In Working Capital
9.31
-2.52%
9.55
+1679.33%
0.54
-90.55%
5.68
Change In Payables And Accrued Expense
10.29
-13.39%
11.89
+66.56%
7.14
+1.23%
7.05
Change In Payable
10.29
-13.39%
11.89
+66.56%
7.14
+1.23%
7.05
Change In Account Payable
10.29
-13.39%
11.89
+66.56%
7.14
+1.23%
7.05
Change In Other Current Assets
-0.98
+57.92%
-2.33
+64.68%
-6.60
-382.38%
-1.37
Investing Cash Flow
-452.39
+50.58%
-915.48
-60.50%
-570.39
-68.92%
-337.66
Cash Flow From Continuing Investing Activities
-452.39
+50.58%
-915.48
-60.50%
-570.39
-68.92%
-337.66
Net PPE Purchase And Sale
-63.41
-36.56%
-46.43
+12.48%
-53.05
+20.35%
-66.61
Purchase Of PPE
-63.41
-36.56%
-46.43
+12.48%
-53.05
+20.35%
-66.61
Capital Expenditure
-63.41
-36.56%
-46.43
+12.48%
-53.05
+20.35%
-66.61
Financing Cash Flow
187.76
-64.90%
534.91
+1.14%
528.86
+2882.20%
17.73
Cash Flow From Continuing Financing Activities
187.76
-64.90%
534.91
+1.14%
528.86
+2882.20%
17.73
Net Issuance Payments Of Debt
118.00
+755.56%
-18.00
0.00
-100.00%
50.00
Issuance Of Debt
422.50
+284.09%
110.00
+34.15%
82.00
-73.38%
308.00
Repayment Of Debt
-304.50
-137.89%
-128.00
-56.10%
-82.00
+68.22%
-258.00
Long Term Debt Issuance
422.50
+284.09%
110.00
+34.15%
82.00
-73.38%
308.00
Long Term Debt Payments
-304.50
-137.89%
-128.00
-56.10%
-82.00
+68.22%
-258.00
Net Long Term Debt Issuance
118.00
+755.56%
-18.00
0.00
-100.00%
50.00
Short Term Debt Issuance
—
—
82.00
-60.58%
208.00
Short Term Debt Payments
—
—
-82.00
+60.58%
-208.00
Net Short Term Debt Issuance
—
—
0.00
0.00
Net Common Stock Issuance
281.01
-62.16%
742.73
+10.63%
671.35
+751.41%
78.85
Common Stock Payments
—
—
—
—
Common Stock Dividend Paid
-203.89
-16.53%
-174.97
-28.79%
-135.85
-26.48%
-107.41
Cash Dividends Paid
-203.89
-16.53%
-174.97
-28.79%
-135.85
-26.48%
-107.41
Repurchase Of Capital Stock
—
—
—
—
Proceeds From Stock Option Exercised
-3.29
+1.73%
-3.34
-121.02%
-1.51
-44.78%
-1.04
Net Other Financing Charges
-4.08
+64.59%
-11.51
-124.87%
-5.12
-92.33%
-2.66
Changes In Cash
7.24
+104.89%
-147.88
-207.04%
138.15
+178.18%
-176.72
Beginning Cash Position
18.35
-88.96%
166.24
+491.95%
28.08
-86.29%
204.80
End Cash Position
25.59
+39.43%
18.35
-88.96%
166.24
+491.95%
28.08
Free Cash Flow
208.46
+11.92%
186.25
+47.09%
126.62
+65.31%
76.60
Interest Paid Supplemental Data
27.44
+31.29%
20.90
-34.10%
31.71
+25.75%
25.22
Common Stock Issuance
281.01
-62.16%
742.73
+10.63%
671.35
+751.41%
78.85
Issuance Of Capital Stock
281.01
-62.16%
742.73
+10.63%
671.35
+751.41%
78.85
Net Investment Properties Purchase And Sale
-388.98
+55.24%
-869.04
-67.99%
-517.33
-90.86%
-271.05
Purchase Of Investment Properties
-763.60
+18.85%
-940.94
-59.37%
-590.41
-36.29%
-433.20
Sale Of Investment Properties
374.62
+421.04%
71.90
-1.61%
73.08
-54.93%
162.15
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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