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TRNO

Terreno Realty Corporation

TRNO

NYSE·Real Estate·REIT - Industrial·Mkt cap $7.0B

$66.93

▲ +1.39%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$53.00 - $67.83

P/E

16.40

Fwd P/E

41.34

Beta

1.06

Div Yield

3.15%

Avg Vol

781.2K

Shares Out

106.3M

Mkt Cap

$7.0B

Price action

Price chart

Up 16.5% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

▲

Bull Case

4 reasons

  • Strategic coastal market positioning in high-growth logistics corridors
  • Internally managed structure reducing operating costs and improving capital efficiency
  • Diversified portfolio across six major metropolitan areas reducing concentration risk
  • REIT tax structure enabling tax-efficient capital returns to shareholders
▼

Bear Case

2 risks

  • Average volatility.
  • Premium valuation to Industrial REITs peers

Growth

Stable outlook

E-commerce expansion driving demand for last-mile industrial logistics facilities

Value

Premium valuation to Industrial REITs peers

Momentum

Strong

+6.2% over 3m

Quality

Excellent

Excellent business quality

Dividend

Solid

3.15% yield

Earnings track record

Latest print - beat on both lines

AI-summarized recap of last quarter, plus the surprise on every print.

Next: May 5, 2026

“
Q2 26 RECAP

MAY 6, 2026

Reported EPS of $0.66 vs $0.30 consensus (+117.6% surprise). Revenue of $124.4M vs $122.6M expected (+1.5%). Beat on both top and bottom lines.

EPS beat +117.6%
Rev beat +1.5%
Double beat

EPS surprise · last 4Q

1 of 1 beats

Q2 26

+117.6%

Next: May 5, 2026

Revenue trend · last 8Q

—

—

+20%

+30%

+19%

+17%

+33%

+13%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$94.2M

$99.6M

$103.7M

$110.4M

$112.2M

$116.2M

$137.5M

$124.4M

Margins · last 8Q

Gross

—

Operating

—

Profit

55.8%

View full earnings history →

Wall Street consensus

9 analysts · 67% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

6

67%

Hold

2

22%

Sell

1

11%

Median Price Target

$69.50

▲ +3.8% vs $66.93

Low $69.00
Median $69.50
High $70.00

Latest: KeyBanc · Jun 23, 2026

2 analysts covering

View full analyst page →

vs Industry

How TRNO stacks vs REIT - Industrial

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.