TRNO Stock Analysis: Terreno Realty | NYSE

Industrial Real Estate, Property Leasing, Warehouse Facilities, Coastal Logistics

Total Rating 48

Safety 43

Buy Signal -0.46

REIT - Industrial
Industry Rotation: +7.7

Market Cap: 7.20B
Avg Turnover: 49.7M

Risk 3d forecast

Volatility21.6%

VaR 5^th Pctl3.68%

VaR vs Median3.51%

Reward TTM

Sharpe Ratio0.79

Rel. Str. IBD52.5

Rel. Str. Peer Group80.8

Character TTM

Beta0.306

Beta Downside0.453

Hurst Exponent0.521

Drawdowns 3y

Max DD26.27%

CAGR/Max DD0.36

CAGR/Mean DD1.06

EPS (Earnings per Share)

EPS CAGR: 9.60%
EPS Trend: 75.4%

Last SUE: 0.00
Qual. Beats: 0

Revenue

Rev. CAGR: 20.20%
Rev. Trend: 99.7%

Last SUE: -0.58
Qual. Beats: 0

Warnings

Earnings Expected To Drop (P/E To P/E Forward)

Below Avwap Earnings

Tailwinds

No distinct edge detected

Seasonality 11.7 years of data

Jan +1.2% 8

Feb -1.2% 26

Mar +1.4% 18

Apr +3.5% 2

May +0.1% 16

Jun +0.1% 14

Jul +4.2% 33

Aug -0.5% 8

Sep -4.4% 62

Oct -0.2% 0

Nov +2.5% 31

Dec -1.7% 11

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: TRNO Terreno Realty

Terreno Realty Corporation (NYSE: TRNO) is an industrial REIT that acquires, owns, and operates industrial properties in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. The company announced new renewal leases totaling 233,000 square feet at Countyline Corporate Park Phase III in Hialeah, Florida, covering Buildings 26 and 28 (422,000 square feet combined), which are currently 100% leased to six tenants. To facilitate the new leases, TRNO executed an early termination effective July 31, 2026, with a tenant whose lease was set to expire in April 2027.

The transactions include a turbine engine disassembly, repair, logistics, and storage services provider relocating from 106,000 square feet in Building 28 (expiring April 2030) to 83,000 square feet in Building 26, with the new lease running from August 1, 2026, to March 2035. Additionally, a global wholesale packaging provider signed an early renewal for 43,000 square feet commencing October 1, 2027, and an expansion lease for 106,000 square feet expected to commence November 1, 2026, both expiring January 2035. Following these transactions, Buildings 26 and 28 will be 100% leased to five tenants. Terreno Realty was incorporated on November 6, 2009, and is headquartered in Bellevue, Washington.

Industrial REITs like TRNO focus on warehouse, distribution, and logistics properties that serve supply chain and e-commerce tenants. The coastal U.S. markets TRNO targets are typically characterized by limited land availability and zoning restrictions, which can support higher occupancy and rent growth compared to inland industrial submarkets.

Headlines to Watch Out For

Countyline Corporate Park Phase III reaches 100% leased to five tenants
Coastal industrial demand drives rent growth in six major U.S. markets
Early lease renewals and expansions extend weighted average lease term through 2035

Piotroski VR-10 (Strict) 5.0

Net Income: 388.6m TTM > 0 and > 6% of Revenue
FCF/TA: 0.07 > 0.02 and ΔFCF/TA 1.24 > 1.0
NWC/Revenue: 0.43% < 20% (prev 15.56%; Δ -15.13% < -1%)
CFO/TA 0.05 > 3% & CFO 286.6m > Net Income 388.6m
Net Debt (1.00b) to EBITDA (530.1m): 1.90 < 3
Current Ratio: 1.04 > 1.5 & < 3
Outstanding Shares: last quarter (106.7m) vs 12m ago 3.55% < -2%
Gross Margin: 64.44% > 18% (prev 74.15%; Δ -9.71% > 0.5%)
Asset Turnover: 9.40% > 50% (prev 8.55%; Δ 0.85% > 0%)
Interest Coverage Ratio: 12.03 > 6 (EBIT TTM 423.8m / Interest Expense TTM 35.2m)

Altman Z'' 4.34

A: 0.00 (Total Current Assets 52.2m - Total Current Liabilities 50.0m) / Total Assets 5.71b
B: 0.05 (Retained Earnings 304.5m / Total Assets 5.71b)
C: 0.08 (EBIT TTM 423.8m / Avg Total Assets 5.35b)
D: 3.46 (Book Value of Equity 4.43b / Total Liabilities 1.28b)
Altman-Z'' = 4.34 = AA

What is the price of TRNO shares?

As of October 14, 2026, the stock is trading at USD 65.87 with a total of 508,364 shares traded. Over the past week, the price has changed by +2.55%, over one month by +2.00%, over three months by -5.46% and over the past year by +19.53%.

Current recommended Stop Loss: 63.00 (which is 4.4% or 2.6 ATR below the current price).

Is TRNO a buy, sell or hold?

Terreno Realty has received a consensus analysts rating of 3.74. Therefore, it is recommended to hold TRNO.

StrongBuy: 6
Buy: 5
Hold: 6
Sell: 1
StrongSell: 1

What are the forecasts/targets for the TRNO price?

Analysts Target Price	73.5	11.5%

Terreno Realty (TRNO) - Fundamental Data Overview as of 14 October 2026

Market Cap USD = 7.20b (7.20b USD * 1.0 USD.USD)
P/E Trailing = 17.7688
P/E Forward = 80.0
P/S = 14.3234
P/B = 1.6232
P/EG = 7.1534
Revenue TTM = 502.9m USD
EBIT TTM = 423.8m USD
EBITDA TTM = 530.1m USD
Long Term Debt = 942.5m USD (from longTermDebt, last quarter)
Short Term Debt = 50.0m USD (from shortTermDebt, last quarter)
Debt = 1.06b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.00b USD (calculated: Debt 1.06b - CCE 51.2m)
Enterprise Value = 8.21b USD (7.20b + Debt 1.06b - CCE 51.2m)
Interest Coverage Ratio = 12.03 (Ebit TTM 423.8m / Interest Expense TTM 35.2m)
EV/FCF = 19.93x (Enterprise Value 8.21b / FCF TTM 411.8m)
FCF Yield = 5.02% (FCF TTM 411.8m / Enterprise Value 8.21b)
FCF Margin = 81.88% (FCF TTM 411.8m / Revenue TTM 502.9m)
Net Margin = 77.27% (Net Income TTM 388.6m / Revenue TTM 502.9m)
Gross Margin = 64.44% ((Revenue TTM 502.9m - Cost of Revenue TTM 178.8m) / Revenue TTM)
Gross Margin QoQ = 76.25% (prev 27.05%)
Tobins Q-Ratio = 1.44 (Enterprise Value 8.21b / Total Assets 5.71b)
Interest Expense / Debt = 3.33% (Interest Expense 35.2m / Debt 1.06b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 334.8m (EBIT 423.8m * (1 - 21.00%))
Current Ratio = 0.31 (Total Current Assets 52.2m / Total Current Liabilities 168.6m)
Debt / Equity = 0.24 (Debt 1.06b / totalStockholderEquity, last quarter 4.43b)
Debt / EBITDA = 1.90 (Net Debt 1.00b / EBITDA 530.1m)
Debt / FCF = 2.44 (Net Debt 1.00b / FCF TTM 411.8m)
Total Stockholder Equity = 4.22b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.27% (Net Income 388.6m / Total Assets 5.71b)
RoE = 9.21% (Net Income TTM 388.6m / Total Stockholder Equity 4.22b)
RoCE = 8.21% (EBIT 423.8m / Capital Employed (Equity 4.22b + L.T.Debt 942.5m))
RoIC = 5.89% (NOPAT 334.8m / Invested Capital 5.69b)
WACC = 6.49% (E(7.20b)/V(8.26b) * Re(7.06%) + D(1.06b)/V(8.26b) * Rd(3.33%) * (1-Tc(0.21)))
Discount Rate = 7.06% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.80 | Cagr: 8.15%
[DCF] Terminal Value 77.97% ; FCFF base≈366.0m ; Y1≈419.6m ; Y5≈617.5m
[DCF] Fair Price = 76.06 (EV 9.29b - Net Debt 1.00b = Equity 8.29b / Shares 109.0m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 75.38 | EPS CAGR: 9.60% | SUE: 0.0 | # QB: 0
Revenue Correlation: 99.71 | Revenue CAGR: 20.20% | SUE: -0.58 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.43 | Chg30d=-0.42% | Revisions=+40% | Analysts=3
EPS current Year (2026-12-31): EPS=1.82 | Chg30d=-6.26% | Revisions=+25% | GrowthEPS=+14.8% | GrowthRev=+7.5%
EPS next Year (2027-12-31): EPS=1.76 | Chg30d=+1.34% | Revisions=+40% | GrowthEPS=-3.2% | GrowthRev=+11.8%
[Analyst] Revisions Ratio: +62% (up=5, down=0)