Terreno Realty (TRNO)
Acquires and leases urban-infill industrial properties across six coastal U.S. markets.
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Acquires and leases warehouse/distribution buildings, improved land, transshipment sites, and flex properties in six coastal U.S. markets. Rental income comes from a diversified tenant base, with most rent tied to warehouse/distribution space and performance concentrated in supply-constrained urban-infill locations.
Acquires, owns, operates, develops, and redevelops industrial real estate in six supply-constrained coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C. The portfolio is dominated by warehouse/distribution buildings, complemented by improved land, transshipment sites, and flex properties for light-industrial and research-and-development users.
Targets functional urban-infill assets near ports, airports, highways, and railways, then uses leasing, operational improvements, and redevelopment to reposition properties. Rental income and tenant reimbursements flow through a single real-estate investment segment, while local third-party managers handle day-to-day operations at substantially all properties.
Results depend on industrial leasing demand and occupancy, access to attractively priced acquisitions and financing, and compliance with REIT distribution rules, environmental requirements, and local zoning and land-use regulations.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | UBS | Target | Target: $68 | Target: $74 |
| Sep 1, 2026 | Wells Fargo | Reiterate | Rating: —Target: $63 | Target: $70 |
| Aug 19, 2026 | Mizuho Securities | Target | Target: — | Target: $60 |
| Aug 17, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $67 | Target: $77 |
| Aug 17, 2026 | Industrial Alliance Securities | Target | Target: $75 | Target: $77 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $51.2M · Total debt $1.06B · Total assets $5.71B · Shareholders' equity $4.43B
- Revenue
- $124.7M
- Operating income
- $52.1M
- Net income
- $57.6M
HistoryDividendAnnual yieldUpcoming
| Institutions | ≈ 107.21% | 116.83M shares | |
|---|---|---|---|
| 387 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.98% | 2.16M shares | |
| 11 holders · as of Aug 11, 2026 | |||
| Adds to | 109.19% | ||
108.97M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 109.19%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 17.20% | 18.74M | as of Jun 30, 2026 |
FMR LLCInstitution | 11.10% | 12.09M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 9.86% | 10.75M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.47% | 5.96M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.39% | 4.78M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | John Tull Meyer | officer: EVP | −4,447 | $68.64 |
| Aug 7, 2026 | Michael A. Coke | director, officer: President | −8,000 | $68.38 |
| Aug 10, 2026 | Jaime Jackson Cannon | officer: CFO | −3,602 | $68.26 |
| Feb 9, 2026 | Jaime Jackson Cannon | officer: CFO | −7,000 | $65.99 |
| Nov 7, 2025 | John Tull Meyer | officer: EVP | −4,758 | $59.95 |
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- STAG Industrial
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- LXP Industrial Trust
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Terreno Realty | $66.80 | +0.63% | $7.06B | 17.8 | 36.9 | 14.0 | +11.1% |
| Prologis | $136.17 | +0.26% | $126.78B | 30.3 | 39.3 | 13.8 | +7.5% |
| Rexford Industrial | $38.49 | −0.59% | $8.85B | — | 34.0 | 9.0 | +0.6% |
| First Industrial Realty Trust | $61.88 | −0.19% | $8.22B | 22.6 | 34.6 | 10.8 | +8.2% |
| EastGroup Properties | $203.45 | +0.43% | $10.89B | 35.5 | 36.8 | 14.5 | +9.1% |
| STAG Industrial | $37.45 | −0.16% | $7.23B | 28.9 | 74.7 | 8.2 | +7.8% |
| LXP Industrial Trust | $60.87 | +0.01% | $3.59B | 60.9 | 539.5 | 10.3 | +0.5% |
| Median | 30.3 | 38.1 | 10.6 | +7.6% |