Terreno Realty Corporation logo

Terreno Realty Corporation

TRNO

NYSEReal EstateREIT - Industrial

Previous close

$68.17

−$0.23 · -0.34%

Aug 21, 4:00 PM ET

TRNO company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

85

Deep Value

Momentum

60

Neutral

Sentiment

74

Bullish

Risk resilience

79

Moderate Risk

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Company profile

Company website

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. It should be noted that all measurements concerning property size (square footage, acreage), occupancy rates, and the total number of properties detailed within their condensed consolidated financial statements are provided on an unaudited basis. As of September 30, 2020, the company's portfolio included 219 buildings, encompassing a total area of approximately 13.1 million square feet. Additionally, they possessed 22 developed land parcels spanning about 85.0 acres, alongside one property currently undergoing redevelopment, which is projected to contribute roughly 0.2 million square feet upon completion. Terreno operates as an internally managed corporation chartered in Maryland. The company chose to be designated as a Real Estate Investment Trust (REIT) for tax purposes, pursuant to Sections 856 through 860 of the Internal Revenue Code of 1986, effective from its taxable year concluded on December 31, 2010.

Industry
REIT - Industrial
Sector
Real Estate
Headquarters
US
CEO
W. Blake Baird
Listed since
Feb 10, 2010
Employees
47

Market position

Day range

Current $68.17

52-week range

Current $68.17

Open
$68.86
Previous close
$68.40
Volume
370.88K
0.46× average
Average volume
806.61K
Average daily volume
Market cap
7.25B USD
Beta
1.06
Market reference 1
50-day average
$69.0656
-1.30% below average
200-day average
$64.5946
+5.54% above average

Financials

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends89%71%52%34%Gross margin, FY2021: 74.66%Gross margin, FY2022: 75.05%Gross margin, FY2023: 75.56%Gross margin, FY2024: 74.36%Gross margin, FY2025: 75.84%Operating margin, FY2021: 39.67%Operating margin, FY2022: 39.95%Operating margin, FY2023: 41.21%Operating margin, FY2024: 38.69%Operating margin, FY2025: 40.39%Net margin, FY2021: 39.32%Net margin, FY2022: 71.69%Net margin, FY2023: 46.81%Net margin, FY2024: 48.22%Net margin, FY2025: 84.59%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 74.66%. Gross margin FY2022 75.05%. Gross margin FY2023 75.56%. Gross margin FY2024 74.36%. Gross margin FY2025 75.84%. Operating margin FY2021 39.67%. Operating margin FY2022 39.95%. Operating margin FY2023 41.21%. Operating margin FY2024 38.69%. Operating margin FY2025 40.39%. Net margin FY2021 39.32%. Net margin FY2022 71.69%. Net margin FY2023 46.81%. Net margin FY2024 48.22%. Net margin FY2025 84.59%.

Income trends

Revenue

476.38M USD+24.51%

Operating income

192.43M USD+30.00%

Net income

402.99M USD+118.43%
Income trends across reported periods515.3M USD359.64M USD203.99M USD48.34M USDRevenue, FY2021: 221.93M USDRevenue, FY2022: 276.21M USDRevenue, FY2023: 323.59M USDRevenue, FY2024: 382.62M USDRevenue, FY2025: 476.38M USDOperating income, FY2021: 88.03M USDOperating income, FY2022: 110.35M USDOperating income, FY2023: 133.35M USDOperating income, FY2024: 148.03M USDOperating income, FY2025: 192.43M USDNet income, FY2021: 87.25M USDNet income, FY2022: 198.01M USDNet income, FY2023: 151.46M USDNet income, FY2024: 184.5M USDNet income, FY2025: 402.99M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 221.93M USD. Revenue FY2022 276.21M USD. Revenue FY2023 323.59M USD. Revenue FY2024 382.62M USD. Revenue FY2025 476.38M USD. Operating income FY2021 88.03M USD. Operating income FY2022 110.35M USD. Operating income FY2023 133.35M USD. Operating income FY2024 148.03M USD. Operating income FY2025 192.43M USD. Net income FY2021 87.25M USD. Net income FY2022 198.01M USD. Net income FY2023 151.46M USD. Net income FY2024 184.5M USD. Net income FY2025 402.99M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue476.38M USD382.62M USD323.59M USD276.21M USD221.93M USD
Cost of goods sold115.1M USD98.09M USD79.09M USD68.9M USD56.25M USD
Gross profit361.28M USD284.53M USD244.51M USD207.31M USD165.68M USD
Selling, general, and administrative47.27M USD42.59M USD37.94M USD31.19M USD26.96M USD
Operating expenses168.85M USD136.5M USD111.15M USD96.96M USD77.65M USD
Interest income5.33M USD12.08M USD4.96M USD809K USD822K USD
Interest expense32.86M USD20.92M USD24.8M USD23.85M USD18.05M USD
Depreciation and amortization121.58M USD93.92M USD73.22M USD65.76M USD50.69M USD
Operating income192.43M USD148.03M USD133.35M USD110.35M USD88.03M USD
Net income402.99M USD184.5M USD151.46M USD198.01M USD87.25M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
91%
10 beats, 1 miss, 0 met estimates
Average EPS surprise
+61.22%
11 comparable reports
Latest EPS result
0.54
Estimate 0.41 · Beat by 31.71%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.050.790.530.27Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 5, 2025: actual 0.76, estimate 0.38, surprise +100.00%, Beat. Q2 2025, reported May 8, 2025: actual 0.48, estimate 0.365, surprise +31.51%, Beat. Q3 2025, reported Aug 6, 2025: actual 0.9, estimate 0.39, surprise +130.77%, Beat. Q4 2025, reported Nov 5, 2025: actual 1, estimate 0.377, surprise +165.46%, Beat. Q1 2026, reported Feb 4, 2026: actual 0.83, estimate 0.85, surprise -2.35%, Miss. Q2 2026, reported May 6, 2026: actual 0.68, estimate 0.32, surprise +112.50%, Beat. Q3 2026, reported Aug 5, 2026: actual 0.54, estimate 0.41, surprise +31.71%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 0.45, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates142.99M127.07M111.15M95.23MQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 5, 2025: actual 103.71M USD, estimate 100.73M USD, surprise +2.96%, Beat. Q2 2025, reported May 8, 2025: actual 110.42M USD, estimate 108.05M USD, surprise +2.19%, Beat. Q3 2025, reported Aug 6, 2025: actual 112.23M USD, estimate 112.28M USD, surprise -0.04%, Miss. Q4 2025, reported Nov 5, 2025: actual 116.25M USD, estimate 114.31M USD, surprise +1.69%, Beat. Q1 2026, reported Feb 4, 2026: actual 137.49M USD, estimate 132.14M USD, surprise +4.05%, Beat. Q2 2026, reported May 6, 2026: actual 124.44M USD, estimate 122.37M USD, surprise +1.69%, Beat. Q3 2026, reported Aug 5, 2026: actual 124.71M USD, estimate 127.15M USD, surprise -1.92%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate 129.54M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Recent analyst actions

12 institutions

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$2.02

2025 complete year+60.3% since 2021

2026 partial: $1.04

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 30, 2026

$0.57

Quarterly

Record Sep 30, 2026 · Payment Oct 9, 2026

Dividend

Ex-dividend Jun 26, 2026

$0.52

Quarterly

Record Jun 26, 2026 · Payment Jul 10, 2026

Dividend

Ex-dividend Mar 27, 2026

$0.52

Quarterly

Record Mar 27, 2026 · Payment Apr 10, 2026

Dividend

Ex-dividend Dec 15, 2025

$0.52

Quarterly

Record Dec 15, 2025 · Payment Jan 9, 2026

Dividend

Ex-dividend Sep 29, 2025

$0.52

Quarterly

Record Sep 29, 2025 · Payment Oct 10, 2025

Dividend

Ex-dividend Jun 27, 2025

$0.49

Quarterly

Record Jun 27, 2025 · Payment Jul 11, 2025

TRNO peers

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