Terreno Realty Corporation (TRNO) Stock Price & Analysis

Terreno Realty Corporation (TRNO) closed at USD 65.64 on Thursday, October 22, 2026, up 0.12% on the day. The US market is currently closed (pre-market); this is not a live price.

The prior close was USD 65.56; the Oct 22, 2026 session ranged USD 64.59–66.1 on volume of 808,802 shares. Market capitalization is $7.15B, with a 52-week range of USD 56.09–78.94 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:08 UTC.

Also available as compact Markdown for AI agents: nexqual.com/TRNO.md

Key facts (TRNO)

Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (TRNO)

USDFY2021FY2022FY2023FY2024FY2025TTM
Revenue$222M$276M$324M$383M$476M$503M
Net income$87.3M$198M$151M$184M$403M$389M
EPS (diluted)$1.23$2.61$1.81$1.92$3.91—
Net margin39.3%71.7%46.8%48.2%84.6%77.3%
Revenue growth+18.8%+24.5%+17.2%+18.2%+24.5%—
Cash + short-term investments$204M$26.4M$165M$18.1M$25.0M—
Total debt$721M$771M$772M$823M$943M—

Fiscal years end Dec. EPS is split-adjusted.

Valuation (price ÷ last four quarters, through Jun 30, 2026) (TRNO)

P/E 18.4x · P/S 14.2x · EV/Sales 16.0x · P/B 1.6x · Earnings yield 5.43% · Dividend yield (paid, TTM) 2.99% · Buyback yield (TTM) 0.05% · Net debt $891M · EV $8.04B

P/E at fiscal year-ends: Dec 2025 15.0x, Dec 2024 30.7x, Dec 2023 34.5x.

Superinvestors (SEC 13F-HR, Q2 2026) (TRNO)

1 of 80 tracked investors hold TRNO. Each row is the investor's latest 13F; change is vs their prior-quarter share count.

InvestorFirm% of portfolioValueChange
Christopher DavisDavis Advisors0.03%$7.2MReduced -2.2%

Insider sales (SEC Form 4, open-market, last ~7 months) (TRNO)

0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.

Trade dateInsiderRoleSharesValue% of holdings sold10b5-1 planInsider type
2026-08-11Meyer John TullEVP4,447$305K2.2%NoToo little history (no open-market trades in 2023)
2026-08-10Cannon Jaime JacksonCFO3,602$246K1.9%NoToo little history (no open-market trades in 2023 or 2025)
2026-08-07Coke Michael APresident8,000$547K1.3%NoRoutine (sold in Aug each year 2023–2025)

% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).

Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

Analysts (TRNO)

Consensus Buy (mean 2.26 on a 1–5 scale), 19 analysts; mean target USD 73.47 (low 60, high 85).

Rating changes, last 120 days:

DateFirmActionRatingPrice target
2026-10-12Piper SandlerTarget loweredOverweight$91 → $85
2026-09-01Wells FargoTarget raisedEqual-Weight$64 → $70
2026-08-19MizuhoTarget raisedUnderperform$56 → $60
2026-08-17Cantor FitzgeraldTarget raisedOverweight$75 → $77
2026-08-12ScotiabankTarget raisedSector Outperform$68 → $72
2026-08-12KeybancTarget raisedOverweight$72 → $75
2026-08-10CitigroupTarget raisedNeutral$70 → $73
2026-07-24Goldman SachsTarget raisedBuy$75 → $85
2026-07-21Piper SandlerTarget raisedOverweight$79 → $91
2026-07-16BarclaysTarget raisedEqual-Weight$60 → $69

Total return (dividends reinvested) (TRNO)

1Y (from 2025-10-23)5Y (from 2021-10-18)
Total return+11.4%+5.8%
S&P 500 (SPY)+14.9%+80.3%
Per year+11.5%+1.1%
Volatility (annualized)19.4%25.0%
Max drawdown-14.9% (Jul 2026→Oct 2026)-38.8% (Dec 2021→Oct 2022)

TRNO analyst estimates and revisions

PeriodEPS estimate90 days agoChangeRevenue estimateAnalysts
Current quarter (ends Sep 2026)$0.43$0.44-2.7%$129.2M3
Next quarter (ends Dec 2026)$0.45$0.47-5.2%$133.0M3
Current fiscal year (ends Dec 2026)$1.82$1.96-7.0%$511.8M2
Next fiscal year (ends Dec 2027)$1.76$1.73+2.2%$571.7M3

TRNO options: expected move

Options price a move of about ±8.2% (±$5.40) by Dec 18, 2026, which includes earnings on Nov 4, 2026.

ExpirationDaysATM implied volatilityExpected move
Dec 18, 20265624.3%±8.2%
Mar 19, 202714723.4%±10.2%
Jun 17, 202723721.8%±13.9%

30-day implied volatility 32.6% vs 16.4% realized over the last 30 trading days. Put/call ratio (volume) —. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.

Key Statistics (as of October 23, 2026 at 10:08 UTC)

PriceUSD 65.64
Change▲ 0.12% (up)
Previous CloseUSD 65.56
OpenUSD 65.71
Day RangeUSD 64.59 – 66.1
52-Week RangeUSD 56.09 – 78.94
Volume808,802 shares
Market Cap$7.15B
ExchangeNYQ

Technical Analysis (TRNO)

Nexqual's technical model rates TRNO "NEUTRAL" based on 2 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 10:08 UTC.

Overall SignalNEUTRAL
RSI (14)54.19 (neutral)
vs SMA50Below (USD 66.01)
MACD-0.27 (negative)

Analyst Ratings (TRNO)

Wall Street analysts rate TRNO "Buy" based on 19 analysts, with a mean price target of USD 73.47 (range USD 60–85), per Nexqual as of October 23, 2026 at 10:08 UTC.

Consensus RatingBuy
Analyst Count19
Mean TargetUSD 73.47
High TargetUSD 85
Low TargetUSD 60
Buy / Hold / Sell12 / 5 / 2

Earnings (TRNO)

Next Earnings Date2026-11-04
EPS EstimateUSD 0.43
Revenue Estimate$129.21M

Recent Earnings History

QuarterActual vs Estimate
2026-06-30USD 0.65 vs est 0.41 ▲ beat
2026-03-31USD 0.4 vs est 0.35 ▲ beat
2025-12-31USD 0.46 vs est 0.51 ▼ miss
2025-09-30USD 0.39 vs est 0.37 ▲ beat

Source: Nexqual, October 23, 2026 at 10:08 UTC.

Financials & Fundamentals (TRNO)

Total Revenue$502.88M
Revenue Growth (latest quarter, YoY)+11.10%
Gross Margin+76.21%
Operating Margin+41.77%
Profit Margin+77.27%
ROE+9.28%
Debt / Equity0.21
Current Ratio0.62
Total Cash$51.21M
Total Debt$948.29M

Source: Nexqual, October 23, 2026 at 10:08 UTC.

Financial Health Score (TRNO)

Nexqual rates Terreno Realty Corporation's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 10:08 UTC.

GrowthStrong — Revenue +25% YoY (annual)
ProfitabilityStrong — Gross margin 76%, operating 42% (last 12 months)
Balance SheetSolid — $51M cash and investments vs $942M debt (Jun 2026, SEC)
Cash FlowSolid — Operating cash flow $272M (FY ended Dec 2025, 10-K)
EfficiencyMixed — ROE 9%, ROA 2.4%

Ownership (TRNO)

Insider Ownership+1.91%
Institutional Ownership+109.35%
Shares Outstanding108.97M
Float106.82M
Short % of Float+10.11%

Source: Nexqual, October 23, 2026 at 10:08 UTC.

Leadership (TRNO)

Terreno Realty Corporation is led by W. Blake Baird, Co-Founder, Chairman & CEO, per Nexqual as of October 23, 2026 at 10:08 UTC.

Co-Founder, Chairman & CEOW. Blake Baird
Co-Founder, President & DirectorMichael A. Coke
Executive VP, CFO, Head of Investor Relations, Secretary & Principal Accounting OfficerJaime Jackson Cannon
Executive VP & COOJohn Tull Meyer

Major Backers & Investors (TRNO)

Notable institutional backers of Terreno Realty Corporation include FMR, LLC, Principal Financial Group, Inc., Price (T.Rowe) Associates Inc, according to Nexqual as of October 23, 2026 at 10:08 UTC.

Active Investors

InvestorStake
FMR, LLC11.1%
Principal Financial Group, Inc.3.99%
Price (T.Rowe) Associates Inc3.64%
T. Rowe Price3.48%
Fidelity2.99%
Invesco2.61%

Index Funds (Passive)

FundStake
BlackRock17.2%
Vanguard Group14.25%
State Street5.47%
Geode Capital2.73%

Source: Nexqual, October 23, 2026 at 10:08 UTC.

From Terreno Realty Corporation's Latest SEC 10-K Filing (filed 2026-02-04)

Key Strengths & Strategy (as disclosed to the SEC)

Legal & Regulatory Risks (Item 1A, quoted)

Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.

Peers & Related Stocks

SymbolNamePriceChange
STAGStag Industrial, Inc.USD 36.51▲ 0.14%
FRFirst Industrial Realty Trust, USD 55.29▼ 6.92%
REXRRexford Industrial Realty, Inc.USD 36.28▼ 1.41%
LINELineage, Inc.USD 35.09▲ 2.42%
CUBECubeSmartUSD 40.15▲ 3.05%
EGPEastGroup Properties, Inc.USD 202.7▼ 0.3%

Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:08 UTC. This page is informational and not investment advice.

For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt