Terreno Realty Corporation (TRNO) is a publicly traded company in the Real Estate — REIT - Industrial industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Terreno Realty Corporation, together with its subsidiaries, focuses on the acquisition, ownership, and management of industrial real estate assets. Their operations are strategically located in six key coastal U.S. markets: Los Angeles, the Northern New Jersey/New York City metropolitan area, the San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Is Terreno Realty Corporation stock overvalued or undervalued in 2026?
Terreno Realty Corporation (TRNO) trades at 17.6× earnings (P/E). At its 10-year average P/FFO (30.5×) $147 (+125 %); at the decade median (27.5×) $133 (+103 %).
Kaplio overview: Terreno Realty Corporation
Market cap $7B · 52 weeks $57 – $75 (15 % below the high) · P/E 17.6× · 2027 expected P/E 36.4× · Dividend 3.3 % · 11 years rising · Next earnings November 4, 2026 · expected EPS $0.45 · Closing price, Oct 28 · accounts published Aug 5.
- Valuation: P/FFO 13.6× (fairly priced).
- Business: FFO/dividend 2.4× (solid).
- Balance sheet: Net debt/EBITDA 1.6× (solid).
- Earnings: 7 of 8 (no verdict).
What would it be worth at its usual multiples?
At its 10-year average P/FFO (30.5×) $147 (+125 %); at the decade median (27.5×) $133 (+103 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in REITs: 4 of 5 pass
- P/FFO 13.6×, borderline.
- Dividend coverage (FFO/div) 2.4×, passes.
- Debt / Assets 17.5 %, passes.
- Net debt / EBITDA 1.6×, passes.
- FFO Payout (proxy) 75.0 %, passes, near the threshold.
- FFO / Share $4.83, info.
Against its peers (reference peers) — Terreno Realty Corporation: P/B 1.5×; Div. yield 3.3 %; EV/EBITDA 15.0×; $7.1B. First Industrial Realty Trust, Inc. (P/B 2.6×; Div. yield 3.6 %; EV/EBITDA 14.1×; $7.2B), STAG Industrial, Inc. (P/B 1.9×; Div. yield 4.2 %; EV/EBITDA 11.1×; $7.0B), Rexford Industrial Realty, Inc. (P/B 1.1×; Div. yield 4.7 %; EV/EBITDA —; $8.8B).
Expensive or cheap against its last ten fiscal years?
Precio / FFO (aprox.) at each close: today 13.6× · median 27.5× · minimum 13.6× · maximum 45.5× · cheap below 25.9× · expensive above 37.3×. It has been cheaper than today only 0% of the time over its last ten fiscal years.
Dividend
solid · Yield 3.3 % ($1.99 per share in 2025) · Years raising it ≥ 11 · 5-year growth +12 % a year · Free cash flow coverage FFO payout 75 % · With $1,000 invested today you'd collect $33.40 a year ($2.78 a month).
Profitability
| Return on Equity | 9.21% |
| Return on Invested Capital | 3.65% |
| Return on Assets | 6.80% |
| Gross Margin | 64.44% |
| Operating Margin | 41.42% |
| Net Margin | 77.27% |
Financial Health
| Debt / Equity | 0.24 |
| Current Ratio | 1.04 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 3.12 |
Price Performance
| 1 month | -3.86% |
| 3 months | -11.11% |
| Year-to-date | +8.48% |
| 1 year | +9.26% |
| 3 years | +21.94% |
| 5 years | -12.91% |
| 10 years | +144.02% |
Dividend History
Paid in the last 12 months: $2.1300 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-09-30 | $0.5700 |
| 2026-06-26 | $0.5200 |
| 2026-03-27 | $0.5200 |
| 2025-12-15 | $0.5200 |
| 2025-09-29 | $0.5200 |
| 2025-06-27 | $0.4900 |
| 2025-03-27 | $0.4900 |
| 2024-12-13 | $0.4900 |
| 2024-09-30 | $0.4900 |
| 2024-06-28 | $0.4500 |
Amounts adjusted for stock splits.
Related companies: EGP · REXR · FR · STAG
Explore sector: Real Estate · REIT - Industrial
More sections of TRNO: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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