Terreno Realty Corp TRNO

Real estate SIC 6500 - Real Estate NAICS Real Estate and Rental and Leasing › Real Estate derived NYSE

Terreno Realty Corporation ("Terreno", and together with its subsidiaries, "we", "us", "our", "our Company" or "the Company") acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. We invest in several types of industrial real estate, including warehouse/distribution (approximately 80.5% of our total annualized base rent as of December 31, 2025), flex (including light industrial and research and development, or R&D) (approximately 3.4%), transshipment (approximately 6.0%) and improved land (approximately 10.1%). We target functional properties in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets in which we operate. Infill locations are geographic locations surrounded by high concentrations of already developed land and existing buildings. As of December 31, 2025, we owned a total of 309 buildings (including one building held for sale) aggregating approximately 19.8 million square feet, 46 improved land parcels consisting of approximately 147.0 acres and six properties under development or redevelopment. As of December 31, 2025, the buildings and improved land parcels were approximately 96.1% and 95.4% leased, respectively, to 683 customers, the largest of which accounted for approximately 4.9% of our total annualized base rent.

Last close 65.15 2026-10-23
Market cap $7.10B 2026-06-30 share count
52-week range 56.09 - 78.94

Valuation FY2025 figures against the last close

P/S14.9x
P/E16.7x
P/FCF26.1x
EV/EBITDA—
Dividend yield2.9%
Diluted EPS3.91

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $476.4M$382.6M$323.6M$276.2M$221.9M$186.9M$171.0M$151.7M$132.5M$108.4M
SG&A $47.3M$42.6M$37.9M$31.2M$27.0M$23.5M$23.9M$21.5M$19.7M$19.3M
Total operating expenses $284.3M$234.7M$190.5M$167.3M$134.1M$118.7M$112.2M$102.4M$93.4M$87.2M
Interest expense $32.9M$20.9M$24.8M$23.9M$18.1M$16.0M$16.3M$18.2M$16.8M$13.1M
Net income $403.0M$184.5M$151.5M$198.0M$87.3M$79.8M$55.5M$63.3M$53.1M$15.1M
EPS, basic 3.921.921.812.611.231.170.861.090.95—
EPS, diluted 3.911.921.812.611.231.160.851.090.950.26
Shares, diluted (wtd. avg.) 102.7M95.8M83.4M75.6M70.8M68.2M64.7M57.5M51.4M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $25.0M$18.1M$165.4M$26.4M$204.4M$107.2M$110.1M$31.0M$35.7M$14.2M
Other intangibles ————————$4.1M$18.1M
Total assets $5.39B$4.77B$3.90B$3.16B$2.92B$2.14B$2.11B$1.80B$1.57B$1.28B
Long-term debt $943.3M$823.4M$771.6M$770.8M$720.7M$459.1M$491.6M$462.1M$461.7M$415.3M
Total liabilities $1.24B$1.11B$990.0M$934.6M$866.3M$551.6M$591.3M$548.7M$540.4M$467.2M
Retained earnings $289.1M$95.3M$95.6M$88.3M$2.8M$5.9M$2.6M$14.2M$4.8M—
Total equity $4.15B$3.66B$2.91B$2.23B$2.06B$1.59B$1.52B$1.25B$1.03B$811.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $271.9M$232.7M$179.7M$143.2M$132.2M$101.0M$94.7M$77.6M$69.5M$49.2M
Stock-based compensation $17.7M$14.9M$13.5M$10.2M$9.6M$9.8M$10.6M$9.3M$8.7M$9.4M
Investing cash flow -$452.4M-$915.5M-$570.4M-$337.7M-$666.4M-$52.1M-$251.5M-$235.0M-$249.1M-$149.6M
Financing cash flow $187.8M$534.9M$528.9M$17.7M$631.2M-$53.9M$235.1M$149.0M$203.9M$93.8M
Dividends paid $203.9M$175.0M$135.9M$107.4M$84.6M$74.8M$63.6M$51.4M$41.9M$33.2M
Buybacks $3.3M$3.3M$1.5M$1.0M$582.0K$9.8M$4.0M$3.9M$3.4M$1.6M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001476150-26-000011.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200M 400M 600M Revenue, FY2016: 108.4M Net income, FY2016: 15.1M Revenue, FY2017: 132.5M Net income, FY2017: 53.1M Revenue, FY2018: 151.7M Net income, FY2018: 63.3M Revenue, FY2019: 171M Net income, FY2019: 55.5M Revenue, FY2020: 186.9M Net income, FY2020: 79.8M Revenue, FY2021: 221.9M Net income, FY2021: 87.3M Revenue, FY2022: 276.2M Net income, FY2022: 198M Revenue, FY2023: 323.6M Net income, FY2023: 151.5M Revenue, FY2024: 382.6M Net income, FY2024: 184.5M Revenue, FY2025: 476.4M Net income, FY2025: 403M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $108.4M $132.5M $151.7M $171.0M $186.9M $221.9M $276.2M $323.6M $382.6M $476.4M
Gross profit — — — — — — — — — —
Net income $15.1M $53.1M $63.3M $55.5M $79.8M $87.3M $198.0M $151.5M $184.5M $403.0M

Recent filings and events

  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Shareholder vote Item 5.07
  • Annual report filed Form 10-K
  • Officer or director change Item 5.02
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 6500

TickerCompanyMarket capP/ERevenue growth
CBRE CBRE GROUP, INC. $35.70B 32.0x 13.4%
CIGI Colliers International Group Inc. $4.72B 46.0x 15.3%
MRP Millrose Properties, Inc. $3.96B 9.8x —
CURB Curbline Properties Corp. $3.05B 78.0x 51.3%
CWK Cushman & Wakefield Ltd. $2.78B 31.1x 8.9%
UE Urban Edge Properties $2.44B 26.1x 6.1%
GTY GETTY REALTY CORP /MD/ $1.73B 20.7x 9.0%
EFC Ellington Financial Inc. $1.51B 9.9x —