TERRENO REALTY REIT CORP (TRNO)
Real Estate · Industrial Real Estate / REITs · NYSE
Terreno Realty is a coastal industrial REIT focused on owning and operating supply-constrained, multi-tenant warehouse and logistics facilities in six major U.S. metro areas.
What TERRENO REALTY REIT CORP does
Terreno Realty Corporation is an internally managed REIT that acquires, owns, and operates industrial real estate properties across six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. The company owns approximately 19.8 million square feet of industrial space across 309 buildings, 46 improved land parcels, and six properties under development, with properties approximately 96.1% leased to 683 customers. The company invests in warehouse/distribution facilities, flex/light industrial and R&D properties, transshipment facilities, and improved land.
Themes: ["Industrial real estate / logistics","REIT / real estate investment","Coastal U.S. markets","E-commerce and supply chain infrastructure","Warehouse and distribution properties"]
Fundamentals
- Price$68.54 as of 2026-07-09 close
- Market cap$7.3B as of 2026-07-10
- 1-year return+18.7% as of 2026-07-09 close
- P/E17.24 as of 2026-07-10
- Net margin+86.5% as of 2026-07-10
- Gross margin+75.9% as of 2026-07-10
- ROE+10.4% as of 2026-07-10
- Debt / equity0.22 as of 2026-07-10
- Revenue growth (YoY)+20.2% as of 2026-07-10
- Revenue CAGR (3y)+19.9% SEC XBRL
- Beta1.07 as of 2026-07-10
Dividend: yield +3.1%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Concentration in six coastal U.S. markets exposes the company to regional economic downturns, regulatory changes, and supply chain disruptions specific to those markets","Tenant concentration risk, with the largest tenant representing approximately 4.9% of total annualized base rent, and potential for tenant defaults or non-renewals","Interest rate and debt refinancing risk, with significant term loans payable ($397.9 million) and senior unsecured notes ($473.5 million) that could increase financing costs in a rising rate environment"]
Competitors & peers
- EastGroup Properties (EGP)
- First Industrial Realty Trust (FR)
- Monmouth Real Estate Investment Corporation (MNR)
- STAG Industrial (STAG)
- Industrial Logistics Properties Trust (ILPT)
- Lexington Realty Trust (LXP)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.