Terreno Realty Corporation is a high-quality industrial REIT with best-in-class 87% margins and strong growth credentials, but with the stock trading near its 52-week high above analyst targets, the near-term risk/reward is unfavorable despite the fundamentally compelling business.
Thesis pillars
- Warehouse Concentration Risk↑Improving
- Valuation Above Analyst Consensus↓Deteriorating
- Wide Moat Margin Quality→Stable
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 4, 2026· older than 90 days
Terreno Realty Corporation (TRNO) Stock Analysis
Real Estate · REIT - Industrial
Sell if holding. Analyst target reached at $67.99 — A.R:R is negative (-0.4) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Property Type: warehouse/distribution (80.5%).
Terreno Realty owns and operates industrial real estate across six major coastal U.S. markets, with 309 buildings totaling approximately 19.8 million square feet at 96.1% leased to 683 customers as of December 31, 2025. Revenue comes from operating leases at infill locations in... Read more
Sell if holding. Analyst target reached at $67.99 — A.R:R is negative (-0.4) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Property Type: warehouse/distribution (80.5%). Chart setup: No clear chart pattern; technical signals are mixed. Score 5.4/10, moderate confidence.
Passes 7/8 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, earnings proximity no date, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
Recent developments
updated Oct 28, 2026Recent Developments — Terreno Realty Corporation
Latest news
- NEWS Terreno Realty (TRNO) Holds Steady Near $65 as Industrial Demand Supports Price Action - NAAIM Exposure - https://www.si — https://www.siam.in/ Oct 28, 2026 neutral
- NEWS TRNO Q3'26 Earnings: revenue estimate is 128.80M USD - TradingView — TradingView Oct 28, 2026 neutral
- NEWS Terreno Realty board increases quarterly dividend 9.6% to 57c per share - TipRanks — TipRanks Aug 5, 2026 positive
- NEWS Terreno Realty Corporation Increases Quarterly Dividend by 9.6% and Files Second Quarter 2026 Financial Statements - Bus — Business Wire Aug 5, 2026 positive
- NEWS Terreno faces earnings test as industrial REIT ramps buying By Investing.com - Investing.com South Africa — Investing.com South Africa Aug 4, 2026 positive
Latest item Oct 28, 2026 · Generated 2026-11-05T11:54:13Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHPropertywarehouse/distribution81%10-K Item 1: 'warehouse/distribution (approximately 80.5% of our total annualized base rent as of December 31, 2025)'
- MEDIUMGeographicNew York City/Northern New Jersey27%10-K Item 1A: 'were located in New York City/Northern New Jersey, representing a combined percentage of approximately 26.6% of our total annualized base rent'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
3 floor-breakers
Growth below the gate floor. Component breakdown shows what dragged the score down.static
Priced at a premium — multiples above sector norms. Needs delivery on growth + margins to justify.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $67.99 — A.R:R is negative (-0.4) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Property Type: warehouse/distribution (80.5%). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $65.19. Score 5.4/10, moderate confidence.
Analyst target $66.23 reached (−2.6% from $67.99); no take-profit level is published. Prior stop was $65.19. Stop-loss: $65.19.
Concentration risk — Property Type: warehouse/distribution (80.5%); Analyst target reached - limited upside remaining; Sector modifier (Real Estate): -1.2.
Terreno Realty Corporation trades at a P/E of 18.3 (forward 38.5). TrendMatrix value score: 3.0/10. Verdict: Sell.
25 analysts rate TRNO, with a consensus score of 3.8/5. 17 analysts publish price targets averaging $74.
What does Terreno Realty Corporation do?Terreno Realty owns and operates industrial real estate across six major coastal U.S. markets, with 309 buildings...
Terreno Realty owns and operates industrial real estate across six major coastal U.S. markets, with 309 buildings totaling approximately 19.8 million square feet at 96.1% leased to 683 customers as of December 31, 2025. Revenue comes from operating leases at infill locations in supply-constrained submarkets; warehouse/distribution properties represent 80.5% of annualized base rent, with improved land at 10.1%, transshipment at 6.0%, and flex at 3.4%.