Terreno Realty Corporation

TRNO

$66.22

+0.63%

2026-09-04 10:32:56 EDT+$0.42

Real Estate

REIT - Industrial

NYSE

Active Trading

Terreno Realty Corporation, together with its subsidiaries, focuses on the acquisition, ownership, and management of industrial real estate assets. Their operations are ...

Price Action of TRNO

$66.22

+0.63%+$0.42

High—

Low—

52W High-16.1%

Rel. vol—

Interval

Range53m

Volume—SMA5SMA10

—

Terreno Realty Corporation is a publicly traded real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker symbol TRNO. The company specializes in the acquisition, ownership, and management of industrial real estate assets, strategically targeting six major coastal U.S. markets: Los Angeles, Northern New Jersey/New ...Terreno Realty Corporation is a publicly traded real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker symbol TRNO. The company specializes in the acquisition, ownership, and management of industrial real estate assets, strategically targeting six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City metropolitan area, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. Its portfolio predominantly consists of functional, flexible, and infill properties, which are well-suited for a variety of industrial uses including warehousing, distribution, and light manufacturing. As of September 30, 2020, the company's portfolio comprised 219 buildings covering approximately 13.1 million square feet, along with 22 developed land parcels spanning about 85 acres and one redevelopment project expected to add roughly 0.2 million square feet. Terreno is internally managed and was incorporated in Maryland, with its IPO completed in February 2010. The company is led by Chairman and CEO W. Blake Baird, who co-founded the company with President Michael A. Coke. The executive team maintains significant alignment with shareholders through personal investment in the company. Financially, Terreno has demonstrated strong profitability with a net profit margin of 77.3% and a return on equity of 9.2%. The company generates revenue primarily through rental income, with a gross profit margin of 70.3%. It maintains a conservative approach to leverage, with a debt-to-equity ratio of 10.7%. Terreno Realty has a low cost structure with general and administrative expenses at 9.8% of revenue, highlighting operational efficiency. The company pays a quarterly dividend, with a dividend yield of 3.0% and a payout ratio of 69%. As of the latest data, the company had a market capitalization of approximately $7.31 billion and an enterprise value of $7.73 billion. With only 47 full-time employees, Terreno operates a lean organization that outsources many property management functions to third-party providers. Looking ahead, Terreno aims to continue expanding its footprint in its core markets through selective acquisitions and development projects, capitalizing on the strong demand for industrial space in coastal logistics hubs.ExpandCollapse

Founded

2009

Employees

CEO

W. Blake Baird

Full Name

Terreno Realty Corporation

Sector

Real Estate

Industry

REIT - Industrial

ROE

9.21%

Market Cap

$7.22B

Current Ratio

1.04

WACC

8.89%

ROIC

7.35%

Contact Information

https://www.terreno.com

14156554580

10500 NE 8th Street, Bellevue, WA 98004-8617

Key Metrics of TRNO

Snapshot

Latest / TTM · 6 periods

Market Cap

$7.22B

ROCE

3.7%

EV / EBITDA

14.57x

-0.1% YoY

FCF Yield

2.7%

-0.8% YoY

Cash Conversion Cycle

-242.0d

Current Ratio

1.04

Quick take

TTM —

No major risk flags in selected headline metrics.

Financial Highlights of TRNO

Profitability trend

Latest / TTM · 6 periods

Gross Margin

64.4%

Net Margin

77.3%

P/E Ratio

17.69x

n/a

Debt / Equity

0.24

n/a

Current Ratio

1.04

Dividend Yield

3.2%

Understanding

TTM —

No major balance sheet stress in these headline ratios.

Calendar of TRNO

Upcoming

Sep 30, 2026In 26 days
Ex-dividend date
$2.08 per share
Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $0.45 · Revenue $129.54M · 2 analysts
Oct 9, 2026In 35 days
Dividend payment
$2.08 per share
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $0.47 · Revenue $132.84M · 2 analysts

Recent history

Aug 5, 2026
Q2 FY2026 · Results reported
EPS $0.54 · Revenue $124.71M
View filing
May 6, 2026
Q1 FY2026 · Results reported
EPS $0.66 · Revenue $124.44M
View filing
Feb 4, 2026
FY2025 · Annual results
EPS $3.92 · Revenue $476.38M
View filing
Nov 5, 2025
Q3 FY2025 · Results reported
EPS $1.00 · Revenue $116.25M
View filing
Aug 6, 2025
Q2 FY2025 · Results reported
EPS $0.90 · Revenue $112.23M
View filing
May 7, 2025
Q1 FY2025 · Results reported
EPS $0.47 · Revenue $110.42M
View filing

Financial Statements of TRNO

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$476.4M	+24.5%	+0.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$403.0M	+118.4%	-17.1%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+75.8%	+2.0%	+181.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	+40.4%	+4.4%	+2.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+84.6%	+75.4%	-17.3%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$208.5M	+11.9%	-11.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+43.8%	-10.1%	-12.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	22.8%	+1.2%	-3.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	0.08x	-28.1%	-40.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$5.4B	+13.0%	+2.9%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	3.92 vs 3.59	+9.3%	0.54 vs 0.45	+20.0%
Revenue Surprise	$476.4M vs $473.7M	+0.6%	$124.7M vs $129.5M	-3.7%

Insider Transactions of TRNO

Acquisitions (A)

Since Aug 3, 2026

Disposals (D)

Since Aug 3, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Aug 11, 2026	Meyer John Tull	officer: EVP	Common Stock, $0.01 par value per share	D	4,447	$68.64
Aug 10, 2026	Cannon Jaime Jackson	officer: CFO	Common Stock, $0.01 par value per share	D	3,602	$68.26
Aug 7, 2026	COKE MICHAEL A	director, officer: President	Common Stock, $0.01 par value per share	D	8,000	$68.38
Aug 4, 2026	BAIRD W BLAKE	director, officer: CHAIRMAN AND CEO	Common Stock, $0.01 par value per share	A	28,426	—
Aug 4, 2026	COKE MICHAEL A	director, officer: President	Common Stock, $0.01 par value per share	A	28,426	—

Leadership Team of TRNO

5 executives

Name	Title	Compensation	Gender	Year Born	Status
Jaime Jackson Cannon	Executive Vice President, Chief Financial Officer, Head of Investor Relations, Secretary & Principal Accounting Officer	USD 855,500	Male	1975	Active
John Tull Meyer	Executive Vice President & Chief Operating Officer	USD 855,500	Male	1960	Active
Michael A. Coke	Co-Founder, President & Director	USD 810,500	Male	1968	Active
W. Blake Baird	Co-Founder, Chairman & Chief Executive Officer	USD 810,500	Male	1961	Active
G. Mary Ruby	Investment Professional	—	Female	1958	Active

Recent News of TRNO

Business Wire7/27/2026Neutral

Terreno Realty Corporation Announces Lease in Queens, NY

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation Announces Lease in Queens, NY.

Zacks Investment Research7/24/2026Neutral

What Makes Terreno Realty (TRNO) a Strong Momentum Stock: Buy Now?

Does Terreno Realty (TRNO) have what it takes to be a top stock pick for momentum investors? Let's find out.

Seeking Alpha7/24/2026Neutral

The Only 2 REITs I Would Buy Now For Retirement Income

In theory, REITs should deliver abnormal returns when inflation runs hot. In practice, REITs have barely registered positive returns. While I am not overly bullish on REITs (to say the least), I still see some exceptions that might be worth scooping up.

Business Wire7/23/2026Neutral

Terreno Realty Corporation Announces Lease in Carson, CA

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

Business Wire7/21/2026Neutral

Terreno Realty Corporation Announces Lease in Torrance, CA

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

Historical Employee Count of TRNO

Current

Change

-4.08%

Minimum

Maximum

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	47	10-K	Feb 4, 2026	View
Dec 31, 2024	49	10-K	Feb 5, 2025	View
Dec 31, 2023	42	10-K	Feb 7, 2024	View
Dec 31, 2022	40	10-K	Feb 8, 2023	View
Dec 31, 2021	34	10-K	Feb 9, 2022	View

Related stocksREIT - Industrial

Browse all US stocks →

About UsPrivacy PolicyTerms of ServiceDisclaimerStock DirectoryETFsIndices13F HoldingsAnalyst TargetsFree ToolsTechnology MapJoin our Slack

Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer

Terreno Realty Corporation