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Terreno Realty Corporation (TRNO)



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Upturn Advisory Summary
08/14/2025: TRNO (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $62.75
1 Year Target Price $62.75
3 | Strong Buy |
4 | Buy |
10 | Hold |
0 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -2.72% | Avg. Invested days 33 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 5.60B USD | Price to earnings Ratio 21.42 | 1Y Target Price 62.75 |
Price to earnings Ratio 21.42 | 1Y Target Price 62.75 | ||
Volume (30-day avg) 18 | Beta 1.04 | 52 Weeks Range 47.76 - 69.41 | Updated Date 08/15/2025 |
52 Weeks Range 47.76 - 69.41 | Updated Date 08/15/2025 | ||
Dividends yield (FY) 3.62% | Basic EPS (TTM) 2.53 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-08-12 | When - | Estimate 0.3867 | Actual 0.9 |
Profitability
Profit Margin 59.66% | Operating Margin (TTM) 38.96% |
Management Effectiveness
Return on Assets (TTM) 2.19% | Return on Equity (TTM) 6.88% |
Valuation
Trailing PE 21.42 | Forward PE 79.37 | Enterprise Value 6211931216 | Price to Sales(TTM) 13.14 |
Enterprise Value 6211931216 | Price to Sales(TTM) 13.14 | ||
Enterprise Value to Revenue 14.58 | Enterprise Value to EBITDA 16.17 | Shares Outstanding 103302000 | Shares Floating 101199404 |
Shares Outstanding 103302000 | Shares Floating 101199404 | ||
Percent Insiders 1.99 | Percent Institutions 109.05 |
Upturn AI SWOT
Terreno Realty Corporation

Company Overview
History and Background
Terreno Realty Corporation was founded in 2009. It focuses on acquiring, owning, and operating industrial properties in major U.S. markets.
Core Business Areas
- Industrial Property Ownership: Acquisition, ownership, and management of industrial properties such as distribution centers, warehouses, and light industrial facilities. Focus on infill locations in major coastal markets.
Leadership and Structure
Blake Baird is the Chairman and CEO. The company operates with a standard corporate structure, including a board of directors and executive management team overseeing various departments.
Top Products and Market Share
Key Offerings
- Industrial Real Estate: Leasing of industrial properties to tenants. Market share varies by region, but Terreno focuses on high-barrier markets. Competitors include Prologis (PLD), Duke Realty (DRE) (acquired by Prologis), and Rexford Industrial Realty (REXR). Market share data isn't easily segmented for specific firms.
Market Dynamics
Industry Overview
The industrial real estate market is driven by e-commerce growth, supply chain modernization, and demand for logistics facilities. It has been experiencing a period of high demand, increased rents, and limited supply, although this is beginning to moderate.
Positioning
Terreno Realty Corporation focuses on strategic infill locations in major coastal markets, providing a competitive advantage through proximity to transportation hubs and dense population centers.
Total Addressable Market (TAM)
The TAM for industrial real estate is enormous, estimated in the trillions of dollars. Terreno is positioned to capture a fraction of this market, focusing on select high-growth areas.
Upturn SWOT Analysis
Strengths
- Strategic locations in major markets
- Focus on high-barrier-to-entry markets
- Strong balance sheet
- Experienced management team
Weaknesses
- Concentration in a few key markets
- Susceptibility to economic downturns in those markets
- Reliance on leasing income
- Smaller size compared to some competitors
Opportunities
- Continued e-commerce growth
- Supply chain modernization
- Expansion into new markets
- Acquisition of undervalued properties
Threats
- Economic recession
- Increased interest rates
- Oversupply of industrial space
- Competition from larger REITs
Competitors and Market Share
Key Competitors
- PLD
- REXR
- FRPT
Competitive Landscape
Terreno focuses on smaller, infill properties while competitors like Prologis may target larger developments. Rexford is also focused on infill industrial markets. Each firm has slightly different geographic focuses.
Growth Trajectory and Initiatives
Historical Growth: Historical growth can be determined by reviewing Terreno Realty Corporation's financial reports.
Future Projections: Future projections can be obtained from analyst reports available through financial news outlets and brokerage firms.
Recent Initiatives: Recent initiatives can be found in press releases and investor presentations available on Terreno Realty Corporation's website.
Summary
Terreno Realty Corporation is a well-positioned industrial REIT focused on strategic infill locations. Their targeted market approach provides some resilience. Rising interest rates and economic uncertainty pose potential challenges. Their smaller size relative to competitors may limit deal capacity, but it also allows for nimble niche strategies.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC Filings
- Company Website
- Analyst Reports
- Financial News Outlets
Disclaimers:
This analysis is based on publicly available information and is not financial advice. Market share estimates are approximate and may vary based on the source. Financial data should be independently verified.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Terreno Realty Corporation
Exchange NYSE | Headquaters Bellevue, WA, United States | ||
IPO Launch date 2010-02-10 | Co-Founder, Chairman & CEO Mr. W. Blake Baird | ||
Sector Real Estate | Industry REIT - Industrial | Full time employees 49 | Website https://www.terreno.com |
Full time employees 49 | Website https://www.terreno.com |
Terreno Realty Corporation ("Terreno", and together with its subsidiaries, the "Company") acquires, owns and operates industrial real estate 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. All square feet, acres, occupancy and number of properties disclosed in these condensed notes to the consolidated financial statements are unaudited. As of March 31, 2025, the Company owned 298 buildings aggregating approximately 19.3 million square feet, 47 improved land parcels consisting of approximately 150.6 acres, five properties under development or redevelopment and approximately 22.4 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 (the "Code"), commencing with its taxable year ended December 31, 2010.

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