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Terreno Realty Corp
Terreno Realty Corp (TRNO) is listed on NYSE and classified in REIT - Industrial, part of the Real Estate sector. It is headquartered in Bellevue, United States and has 47 employees. The company is worth $7.15B and trades at 17.6x its earnings of the last twelve months; the median for its sector is 22.1x. Revenue was $476.38M in fiscal 2025, up 24.5% from the year before. Net income was $402.99M. The share price is 16.8% below its 52-week high of $78.94. It pays a dividend yielding 3.47%, and has raised its annual dividend for 13 years in a row in our records. 2 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Two Sigma (Two Sigma Investments), at $80.91M. In that quarter, 1 of them opened or added to the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -15.9% over 5Y.
today you would have $1,014.66▲ +1.5%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 15 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $58.71 | $59.14 | $62.67 | $56.87 | $85.29 | $58.51 | $54.14 | $35.17 | $35.06 | $28.49 | $22.62 | $20.63 | $17.70 | $15.44 | $15.14 | |
| P/E | 57.1x | 15.0x | 30.8x | 34.6x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 25.0% a year plus a 3.5% dividend yield. Growth capped at 25%.
Median P/E of 22.1 among peers in the sector.
Median P/E of 57.1 across this company’s own years on record.
Cash flow growing 15.0% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 7.7% a year against a 9.2% required return, from the stock’s beta.
Companies of similar size in Real Estate, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| STAGSTAG Industrial, Inc. | $36.51 | 28.1x | 1.9x | 4.25% | 6.98% | $7.19B |
| MACMacerich Co | $23.95 | — | 2.4x | 2.84% | -6.18% | $7.07B |
| AREAlexandria Real Estate Equities Inc | $43.33 | — | 0.5x | 6.65% | -4.08% | $7.46B |
| VNOVornado Realty Trust | $34.34 |
| 21.8x |
| 69.3x |
| 50.4x |
| 63.7x |
| 32.3x |
| 36.9x |
| 109.6x |
| 87.0x |
| 89.7x |
| 118.0x |
| 81.3x |
| — |
| P/S | 14.3x | 12.8x | 15.4x | 17.0x | 15.8x | 29.0x | 21.5x | 21.3x | 14.2x | 14.7x | 12.5x | 10.2x | 12.8x | 9.7x | 7.1x | 14.3x |
| P/B | 1.7x | 1.5x | 1.6x | 1.9x | 2.0x | 3.1x | 2.5x | 2.4x | 1.7x | 1.9x | 1.7x | 1.3x | 1.2x | 1.0x | 0.8x | 1.3x |
| EPS | $3.91 | $1.92 | $1.81 | $2.61 | $1.23 | $1.16 | $0.85 | $1.09 | $0.95 | $0.26 | $0.26 | $0.23 | $0.15 | $0.19 | -$0.41 |
| Dividend yield | 2.67% | 3.44% | 3.18% | 2.71% | 2.60% | 1.48% | 1.91% | 1.88% | 2.62% | 2.40% | 2.67% | 2.92% | 2.76% | 2.88% | 3.63% | 1.98% |
| Payout | 100.18% | 51.66% | 97.92% | 93.92% | 56.70% | 102.44% | 96.55% | 120.00% | 84.40% | 88.42% | 292.31% | 253.85% | 247.83% | 340.00% | 294.74% | — |
| Profit margin | 39.32% | 84.59% | 48.22% | 46.81% | 71.69% | 39.32% | 42.70% | 32.46% | 41.73% | 40.08% | 13.94% | 15.23% | 15.56% | 14.59% | 8.39% | -26.29% |
| ROE | 4.24% | 9.72% | 5.04% | 5.20% | 8.88% | 4.24% | 5.02% | 3.66% | 5.07% | 5.17% | 1.86% | 1.99% | 1.43% | 1.51% | 0.96% | -2.35% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
+62.2% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 858.5x |
| 1.4x |
| 2.15% |
| 0.60% |
| $6.8B |
| FRFirst Industrial Realty Trust Inc | $55.29 | 20.1x | 2.7x | 3.62% | 13.63% | $7.58B |
| COMPCompass, Inc. | $9.97 | 166.2x | 2.5x | 0.00% | 3.63% | $7.65B |