Terreno Realty（TRNO）株式概要テレーノ・リアルティ・コーポレーションは、米国の沿岸部6大都市圏において、産業用不動産の取得、所有、運営を行う企業である。 詳細TRNO ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長0/6過去の実績4/6財務の健全性4/6配当金5/6報酬株価収益率（ 19.2 x）は、 Industrial REITs業界平均（ 25.8 x）を下回っています。過去1年間で収益は52.9%増加しました 3.34%の安定した配当金を支払う リスク分析今後3年間の収益は年平均14.5%減少すると予測されている。 財務結果に影響を与える大きな一時的項目 過去3か月間に大規模なインサイダー売却が発生 すべてのリスクチェックを見るTRNO Community Fair Values Create NarrativeSee what 10 others think this stock is worth. Follow their fair value or set your own to get alerts.NEW476,491 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA476,491 investors already sharing narrativesYour Fair ValueUS$Current PriceUS$68.2219.9% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture0820m2016201920222025202620282031Revenue US$819.9mEarnings US$630.7mAdvancedSet Fair ValueView all narrativesTerreno Realty Corporation 競合他社STAG IndustrialSymbol: NYSE:STAGMarket cap: US$7.1bFirst Industrial Realty TrustSymbol: NYSE:FRMarket cap: US$8.6bEastGroup PropertiesSymbol: NYSE:EGPMarket cap: US$10.9bLXP Industrial TrustSymbol: NYSE:LXPMarket cap: US$3.6b価格と性能株価の高値、安値、推移の概要Terreno Realty過去の株価現在の株価US$68.2252週高値US$78.9452週安値US$53.58ベータ1.051ヶ月の変化-9.11%3ヶ月変化3.69%1年変化25.89%3年間の変化17.86%5年間の変化3.04%IPOからの変化265.79%最新ニュースRecent Insider Transactions • Aug 11Co-Founder recently sold US$547k worth of stockOn the 7th of August, Michael Coke sold around 8k shares on-market at roughly US$68.38 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Michael has been a net seller over the last 12 months, reducing personal holdings by US$1.1m.ライブニュース • Aug 09Terreno Realty Secures 233,000 SF Lease Renewals and Expansions in HialeahTerreno Realty signed renewal and expansion leases covering 233,000 square feet at Countyline Corporate Park Phase III in Hialeah, Florida. The activity includes an early termination of an existing lease effective 31 July 2026 to free space, a relocation lease for a turbine engine service provider running from 1 August 2026 to March 2035, and an early renewal and expansion for a global wholesale packaging tenant. These agreements mean Buildings 26 and 28 at Countyline Corporate Park Phase III are now fully leased to five tenants, pointing to higher utilization of this part of Terreno Realty’s industrial portfolio and clearer visibility on occupancy for the coming years. Terreno Realty shares trade at US$68.76, with the stock up 16.5% year to date. The read-through is that Terreno Realty is locking in industrial tenants on longer terms at a key South Florida park, which can reduce vacancy risk but also concentrates exposure to a handful of tenants in that location.Declared Dividend • Aug 09Second quarter dividend of US$0.57 announcedShareholders will receive a dividend of US$0.57. Ex-date: 30th September 2026 Payment date: 9th October 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.9%.Recent Insider Transactions Derivative • Aug 07Co-Founder notifies of intention to sell stockMichael Coke intends to sell 8k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of August. If the sale is conducted around the recent share price of US$67.81, it would amount to US$543k. Michael currently holds less than 1% of total shares outstanding. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months.Reported Earnings • Aug 06Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2026 results: EPS: US$0.54 (down from US$0.90 in 2Q 2025). Revenue: US$124.7m (up 11% from 2Q 2025). Net income: US$57.3m (down 38% from 2Q 2025). Profit margin: 46% (down from 83% in 2Q 2025). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 32%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.お知らせ • Aug 06Terreno Realty Corporation Announces Regular Cash Dividend for the Quarter Ending September 30, 2026, Payable on October 9, 2026Terreno Realty Corporation declared a regular cash dividend for the quarter ending September 30, 2026 of $0.57 per common share, an increase of 9.6% over the prior dividend level. The dividend will be payable on October 9, 2026 to common stockholders of record at the close of business on September 30, 2026.最新情報をもっと見るRecent updatesRecent Insider Transactions • Aug 11Co-Founder recently sold US$547k worth of stockOn the 7th of August, Michael Coke sold around 8k shares on-market at roughly US$68.38 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Michael has been a net seller over the last 12 months, reducing personal holdings by US$1.1m.ライブニュース • Aug 09Terreno Realty Secures 233,000 SF Lease Renewals and Expansions in HialeahTerreno Realty signed renewal and expansion leases covering 233,000 square feet at Countyline Corporate Park Phase III in Hialeah, Florida. The activity includes an early termination of an existing lease effective 31 July 2026 to free space, a relocation lease for a turbine engine service provider running from 1 August 2026 to March 2035, and an early renewal and expansion for a global wholesale packaging tenant. These agreements mean Buildings 26 and 28 at Countyline Corporate Park Phase III are now fully leased to five tenants, pointing to higher utilization of this part of Terreno Realty’s industrial portfolio and clearer visibility on occupancy for the coming years. Terreno Realty shares trade at US$68.76, with the stock up 16.5% year to date. The read-through is that Terreno Realty is locking in industrial tenants on longer terms at a key South Florida park, which can reduce vacancy risk but also concentrates exposure to a handful of tenants in that location.Declared Dividend • Aug 09Second quarter dividend of US$0.57 announcedShareholders will receive a dividend of US$0.57. Ex-date: 30th September 2026 Payment date: 9th October 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.9%.Recent Insider Transactions Derivative • Aug 07Co-Founder notifies of intention to sell stockMichael Coke intends to sell 8k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of August. If the sale is conducted around the recent share price of US$67.81, it would amount to US$543k. Michael currently holds less than 1% of total shares outstanding. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months.Reported Earnings • Aug 06Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2026 results: EPS: US$0.54 (down from US$0.90 in 2Q 2025). Revenue: US$124.7m (up 11% from 2Q 2025). Net income: US$57.3m (down 38% from 2Q 2025). Profit margin: 46% (down from 83% in 2Q 2025). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 32%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.お知らせ • Aug 06Terreno Realty Corporation Announces Regular Cash Dividend for the Quarter Ending September 30, 2026, Payable on October 9, 2026Terreno Realty Corporation declared a regular cash dividend for the quarter ending September 30, 2026 of $0.57 per common share, an increase of 9.6% over the prior dividend level. The dividend will be payable on October 9, 2026 to common stockholders of record at the close of business on September 30, 2026.ライブニュース • Jul 28Terreno Realty Lands $98.8 Million Queens Lease With Leading E-Commerce TenantTerreno Realty has leased an 81,000 square foot industrial property with two floors of indoor parking on 4.0 acres in College Point, Queens, to a leading e-commerce firm, with the lease running from July 24, 2026 to July 2029 and renewal options available, tied to a total expected investment of US$98.8 million. The full-property lease increases visibility on occupancy and rental income for a sizeable New York asset, which matters given the level of capital Terreno is committing to this single location. Terreno Realty shares trade at US$72.99, with the stock up 23.7% year to date, so the market has already priced in some positive expectations around the business. This Queens lease concentrates more exposure in a key urban market, which can support income if the tenant relationship remains solid but also raises risk if that tenant’s needs change when renewal decisions come up.ライブニュース • Jul 25Terreno Realty Secures 244,000 Sq Ft Freight Forwarder Lease in Carson Through 2031Terreno Realty signed a combined 244,000 sq ft lease package in Carson, CA with a global freight forwarder, including two renewals and an expansion across two buildings, running from 15 September 2026 to September 2031. The agreement covers a 146,000 sq ft partial building lease, a 34,000 sq ft full building lease and a 64,000 sq ft expansion that fully leases one building to a single tenant and immediately backfills an expiring lease, tightening occupancy on this part of the portfolio. Terreno Realty shares trade at $72.68, with the stock up 23.1% year to date, reflecting recent share price momentum alongside this leasing update. Locked-in occupancy through 2031 with a single global logistics tenant can help steady rental cash flows, though investors still need to watch renewal risk when this sizable lease eventually rolls over.Seeking Alpha • Jul 15Terreno Realty Is Great, But We SoldSummary Terreno Realty was sold as shares became overpriced, trading above 30x forward AFFO amid rising Treasury yields. TRNO's strong industrial portfolio and robust same-property NOI growth justified premium multiples, but current valuation exceeds prudent expectations. Despite minimal debt exposure and superior management, TRNO's revised EBITDA yield of 3.96% highlights stretched valuation versus peers like REXR. I remain positive on TRNO's execution and growth prospects but view current pricing as unjustifiable, warranting profit-taking and ongoing monitoring. Read the full article on Seeking Alphaライブニュース • Jun 28Terreno Realty Secures Major Coastal Leases and Acquisitions Totaling $146.4 MillionTerreno Realty secured a 102,000-square-foot early lease renewal in Hayward, California, a new 92,000-square-foot lease in Kearny, New Jersey, and bought three industrial properties in Florida, Maryland and Virginia for about $146.4 million in Q1 2026. These properties are described as predominantly leased, which the company states adds visibility to future rental income and extends Terreno Realty’s reach in coastal logistics hubs where tenant retention has been high. Terreno Realty shares trade at $65.98, with the stock up 11.8% year to date. The key read-through is that Terreno Realty is committing fresh capital to income-producing coastal industrial assets while locking in tenants on sizable leases. This increases exposure to leasing and interest rate risk but also supports more predictable cash flow from a larger portfolio.Upcoming Dividend • Jun 20Upcoming dividend of US$0.52 per shareEligible shareholders must have bought the stock before 26 June 2026. Payment date: 10 July 2026. Trailing yield: 3.2%. Lower than top quartile of American dividend payers (4.3%). In line with average of industry peers (3.5%).分析記事 • Jun 19Terreno Realty (TRNO) Stock Looks Fairly Priced With A Slight DCF PremiumTerreno Realty (TRNO) continues to attract investor attention as an industrial REIT focused on major U.S. coastal markets. The stock recently closed at $64.35 and has shown mixed short term return trends. See our latest analysis for Terreno Realty. Over the past year Terreno Realty has paired a 9.03% year to date share price return with a 14.53% 1 year total shareholder return, while the stronger 24.01% 3 year total shareholder return suggests momentum has been building over a longer...ライブニュース • Jun 18Terreno Realty Stock: New $77 Million Landover Property Expands Coastal Market PortfolioTerreno Realty acquired an industrial property in Landover, Maryland, for US$77.1 million. The site includes three industrial distribution buildings on 24.0 acres. The property is approximately 92% leased to nine tenants and is part of Terreno Realty’s portfolio in six major U.S. coastal markets. The acquisition adds another leased industrial asset to Terreno Realty’s coastal market footprint, which may support rental income stability given the multi-tenant structure and existing occupancy level. Investors may want to watch how Terreno Realty manages lease rollovers at this property and whether future disclosures provide more detail on returns relative to the acquisition cost.ライブニュース • Jun 06Terreno Realty Acquires Fully Leased San Francisco Industrial Property for US$25.9 MillionTerreno Realty acquired an industrial property in San Francisco, California, for US$25.9 million on June 4, 2026. The asset consists of a single industrial distribution building that is fully leased to four tenants. All existing leases at the property run through dates up to May 2031, providing multi‑year income visibility. This deal adds another coastal industrial asset to Terreno’s portfolio with existing occupancy and lease terms that extend over several years, which can support a steadier rental income profile. Investors may want to pay attention to how the acquisition affects Terreno’s balance sheet, lease rollover schedule, and exposure to the San Francisco industrial market over time.Major Estimate Revision • May 17Consensus EPS estimates increase by 40%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from US$1.39 to US$1.95. Revenue forecast steady at US$513.5m. Net income forecast to shrink 53% next year vs 11% decline forecast for Industrial REITs industry in the US. Consensus price target broadly unchanged at US$70.24. Share price was steady at US$65.05 over the past week.Declared Dividend • May 11First quarter dividend of US$0.52 announcedShareholders will receive a dividend of US$0.52. Ex-date: 26th June 2026 Payment date: 10th July 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.9%.お知らせ • May 08Terreno Realty Corporation announces Quarterly dividend, payable on July 10, 2026Terreno Realty Corporation announced Quarterly dividend of USD 0.5200 per share payable on July 10, 2026, ex-date on June 26, 2026 and record date on June 26, 2026.Reported Earnings • May 07First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: US$0.67 (up from US$0.48 in 1Q 2025). Revenue: US$124.4m (up 13% from 1Q 2025). Net income: US$69.8m (up 46% from 1Q 2025). Profit margin: 56% (up from 43% in 1Q 2025). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 98%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.お知らせ • Apr 14Terreno Realty Corporation Announces Development Completion in Hialeah, FLTerreno Realty Corporation announced that it has completed the development and stabilization of Countyline Corporate Park Phase IV Building 34 in Hialeah, Florida. Building 34 is 100% leased to three tenants. Building 34 of Terreno Realty Corporation’s Countyline Corporate Park is a 220,000 square foot 36-foot clear height rear-load industrial distribution building on 13.0 acres with 76 dock-high and two grade-level loading positions and parking for 188 cars. The building is expected to achieve LEED certification, the total investment is $55.3 million and the estimated stabilized cap rate is 5.7%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami’s Countyline Corporate Park (“Countyline”), immediately adjacent to Terreno Realty Corporation’s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida’s Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and parking for 1,875 cars for a total expected investment of approximately $508.5 million. Taken together, Terreno Realty Corporation’s Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) dividend by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.お知らせ • Apr 09An undisclosed buyer acquired Industrial Property Located in Torrance, California from Terreno Realty Corporation (NYSE:TRNO) for $31.1 million.An undisclosed buyer acquired Industrial Property Located in Torrance, California from Terreno Realty Corporation (NYSE:TRNO) for $31.1 million on April 7, 2026. An undisclosed buyer completed the acquisition of Industrial Property Located in Torrance, California from Terreno Realty Corporation (NYSE:TRNO) on April 7, 2026.お知らせ • Mar 23Terreno Realty Corporation, Annual General Meeting, May 05, 2026Terreno Realty Corporation, Annual General Meeting, May 05, 2026. Location: bellevue office, 10500 ne 8th street, suite 1910, washington 98004., bellevue United StatesUpcoming Dividend • Mar 20Upcoming dividend of US$0.52 per shareEligible shareholders must have bought the stock before 27 March 2026. Payment date: 10 April 2026. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.4%). In line with average of industry peers (3.7%).お知らせ • Mar 10An undisclosed buyer acquired Industrial Property located in Lanham, Maryland from Terreno Realty Corporation (NYSE:TRNO) for approximately $11.1 million.An undisclosed buyer acquired Industrial Property located in Lanham, Maryland from Terreno Realty Corporation (NYSE:TRNO) for approximately $11.1 million on March 6, 2026. An undisclosed buyer completed the acquisition of Industrial Property located in Lanham, Maryland from Terreno Realty Corporation (NYSE:TRNO) on March 6, 2026.お知らせ • Feb 18Terreno Realty Corporation has filed a Follow-on Equity Offering in the amount of $500 million.Terreno Realty Corporation has filed a Follow-on Equity Offering in the amount of $500 million. Security Name: Common Stock Security Type: Common Stock Transaction Features: At the Market OfferingRecent Insider Transactions • Feb 12Executive VP recently sold US$462k worth of stockOn the 9th of February, Jaime Cannon sold around 7k shares on-market at roughly US$65.99 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jaime's only on-market trade for the last 12 months.Major Estimate Revision • Feb 11Consensus EPS estimates fall by 21%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$1.62 to US$1.29 per share. Revenue forecast steady at US$507.6m. Net income forecast to shrink 62% next year vs 5.9% decline forecast for Industrial REITs industry in the US. Consensus price target up from US$66.29 to US$69.00. Share price was steady at US$65.43 over the past week.Declared Dividend • Feb 08Fourth quarter dividend of US$0.52 announcedShareholders will receive a dividend of US$0.52. Ex-date: 27th March 2026 Payment date: 10th April 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.9%.Reported Earnings • Feb 06Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: FFO per share: US$2.8 (up from US$2.43 in FY 2024). Revenue: US$476.4m (up 25% from FY 2024). Funds from operations (FFO): US$284.7m (up 23% from FY 2024). FFO margin: 60% (in line with FY 2024). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 35%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 05Terreno Realty Corporation Declares Quarterly Dividend, Payable on April 10, 2026Terreno Realty Corporation declared a regular cash dividend for the quarter ending March 31, 2026 of $0.52 per common share. The dividend will be payable on April 10, 2026 to common stockholders of record at the close of business on March 27, 2026.お知らせ • Jan 20Terreno Realty Corporation Announces Development Completion in Hialeah, FLTerreno Realty Corporation announced that it has completed the development and stabilization of Countyline Corporate Park Phase IV Building 32 in Hialeah, Florida. Building 32 is 100% leased to two tenants. Building 32 of Terreno Realty Corporation's Countyline Corporate Park is a 164,000 square foot 36-foot clear height rear-load industrial distribution building on 8.3 acres with 53 dock-high and two grade-level loading positions and parking for 148 cars. The building is expected to achieve LEED certification, the total investment is $43.4 million and the estimated stabilized cap rate is 6.0%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corp.'s seven buildings within Countyline (Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and Parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation' Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) dividend by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.Upcoming Dividend • Dec 08Upcoming dividend of US$0.52 per shareEligible shareholders must have bought the stock before 15 December 2025. Payment date: 09 January 2026. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (3.7%).お知らせ • Dec 03Terreno Realty Corporation Announces Development Start in Hialeah, FLTerreno Realty Corporation announced that it has commenced construction of Countyline Corporate Park Phase IV Building 35 in Hialeah, Florida; the tenth and final building to be developed in Countyline Corporate Park Phase IV. Building 35 of Terreno Realty Corporation's Countyline Corporate Park is a 220,000 square foot 36-foot clear height rear-load industrial distribution building on 10.7 acres with 78 dock-high and two grade-level loading positions and parking for 185 cars. Building 35 is expected to complete shell construction in the fourth quarter of 2026 and achieve LEED certification. The total expected investment of Building 35 is $55.5 million and the estimated stabilized cap rate is 6.0%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corp.'s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 655 dock-high and 23 grade-level loading positions and Parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation' Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) dividend by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.Declared Dividend • Nov 09Third quarter dividend of US$0.52 announcedShareholders will receive a dividend of US$0.52. Ex-date: 15th December 2025 Payment date: 9th January 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.9%.Reported Earnings • Nov 06Third quarter 2025 earnings: EPS and revenues exceed analyst expectationsThird quarter 2025 results: EPS: US$1.01 (up from US$0.37 in 3Q 2024). Revenue: US$116.2m (up 17% from 3Q 2024). Net income: US$103.8m (up 185% from 3Q 2024). Profit margin: 89% (up from 37% in 3Q 2024). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 172%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat.お知らせ • Nov 06Terreno Realty Corporation Declares Quarterly Dividend, Payable on January 9, 2026Terreno Realty Corporation declared a regular cash dividend for the quarter ending December 31, 2025 of $0.52 per common share. The dividend will be payable on January 9, 2026 to common stockholders of record at the close of business on December 15, 2025.お知らせ • Nov 05Terreno Realty Corporation Adds Paul J. Donahue, Jr. as Independent Director, Effective November 4, 2025Terreno Realty Corporation announced the addition of Paul J. Donahue, Jr. as an independent director effective November 4, 2025, expanding its Board of Directors to eight. Mr. Donahue is Managing Partner and Co-Founder of Black Squirrel Partners, a growth equity and content platform. Mr. Donahue retired from Morgan Stanley in 2020 after a 32-year career serving most recently as Head of Americas Equity Capital Markets and Chairman of the Equity Underwriting Committee. Mr. Donahue earned degrees in Business Economics and Organizational Behavior & Management from Brown University. Mr. Donahue is a director of PBF Energy and Servco Pacific Inc. Mr. Donahue also serves on the philanthropic Boards of the T.J. Martell Foundation and All Within My Hands. Mr. Donahue has been appointed to serve on the Nominating and Corporate Governance Committee, Compensation Committee and Audit Committee.お知らせ • Sep 30Terreno Realty Corporation Announces Development Start in Hialeah, FLTerreno Realty Corporation announced that it has commenced construction of Countyline Corporate Park Phase IV Building 36 in Hialeah, Florida. Building 36 of Terreno Realty Corporation's Countyline Corporate Park is a 214,000 square foot 36-foot clear height rear-load industrial distribution building on 11.7 acres with 75 dock-high and two grade-level loading positions and parking for 185 cars. Building 36 has been 51% pre-leased to an international logistics management company specializing in freight forward and consolidating services commencing with building completion and tenant build-out, expected to be in the first quarter of 2027, and expiring June 2037. Building 36 is expected to achieve LEED certification, the total expected investment is $54.1 million and the estimated stabilized cap rate is 5.8%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corporation' seven buildings within Countyline (Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 655 dock-high and 23 grade- level loading positions and parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation its Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) dividend by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. Terreno Realty Corporation 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.Upcoming Dividend • Sep 22Upcoming dividend of US$0.52 per shareEligible shareholders must have bought the stock before 29 September 2025. Payment date: 10 October 2025. Trailing yield: 3.6%. Lower than top quartile of American dividend payers (4.4%). In line with average of industry peers (3.9%).Recent Insider Transactions • Aug 17Co-Founder recently sold US$540k worth of stockOn the 14th of August, Michael Coke sold around 10k shares on-market at roughly US$53.96 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months.Recent Insider Transactions Derivative • Aug 15Co-Founder notifies of intention to sell stockMichael Coke intends to sell 10k shares in the next 90 days after lodging an Intent To Sell Form on the 14th of August. If the sale is conducted around the recent share price of US$53.51, it would amount to US$535k. Since March 2025, Michael's direct individual holding has increased from 577.10k shares to 597.36k. There has only been one transaction (US$652k sale) from insiders over the last 12 months.Declared Dividend • Aug 10Second quarter dividend of US$0.52 announcedShareholders will receive a dividend of US$0.52. Ex-date: 29th September 2025 Payment date: 10th October 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.9%.New Risk • Aug 07New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 4.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.6% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.Reported Earnings • Aug 07Second quarter 2025 earnings: EPS exceeds analyst expectationsSecond quarter 2025 results: EPS: US$0.90 (up from US$0.37 in 2Q 2024). Revenue: US$112.2m (up 19% from 2Q 2024). Net income: US$92.9m (up 161% from 2Q 2024). Profit margin: 83% (up from 38% in 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 141%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 6% per year and the company’s share price has also fallen by 6% per year.お知らせ • Aug 07Terreno Realty Corporation Declares Regular Quarterly Cash Dividend for the Quarter Ending September 30, 2025, Payable on October 10, 2025Terreno Realty Corporation declared a regular cash dividend for the quarter ending September 30, 2025 of $0.52 per common share, an increase of 6.1% over the prior dividend level. The dividend will be payable on October 10, 2025 to common stockholders of record at the close of business on September 29, 2025.Upcoming Dividend • Jun 20Upcoming dividend of US$0.49 per shareEligible shareholders must have bought the stock before 27 June 2025. Payment date: 11 July 2025. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (4.1%).お知らせ • May 28An undisclosed buyer acquired Industrial property located in Commerce, California from Terreno Realty Corporation (NYSE:TRNO) for approximately $97 million.An undisclosed buyer acquired Industrial property located in Commerce, California from Terreno Realty Corporation (NYSE:TRNO) for approximately $97 million on May 22, 2025. An undisclosed buyer completed the acquisition of Industrial property located in Commerce, California from Terreno Realty Corporation (NYSE:TRNO) on May 22, 2025.Declared Dividend • May 11First quarter dividend of US$0.49 announcedShareholders will receive a dividend of US$0.49. Ex-date: 27th June 2025 Payment date: 11th July 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.9%.Reported Earnings • May 08First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: US$0.48 (up from US$0.40 in 1Q 2024). Revenue: US$110.4m (up 30% from 1Q 2024). Net income: US$47.9m (up 34% from 1Q 2024). Profit margin: 43% (up from 42% in 1Q 2024). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 34%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 3% per year.お知らせ • May 08Terreno Realty Corporation Declares Regular Cash Dividend for the Quarter Ending June 30, 2025, Payable on July 11, 2025Terreno Realty Corporation declared a regular cash dividend for the quarter ending June 30, 2025 of $0.49 per common share. The dividend will be payable on July 11, 2025 to common stockholders of record at the close of business on June 27, 2025.Buy Or Sell Opportunity • Apr 21Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 13% to US$55.83. The fair value is estimated to be US$71.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 4.6% per annum over the same time period.Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to US$53.40, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 29x in the Industrial REITs industry in the US. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$85.76 per share.お知らせ • Mar 24Terreno Realty Corporation, Annual General Meeting, May 06, 2025Terreno Realty Corporation, Annual General Meeting, May 06, 2025. Location: bellevue office, 10500 ne 8th street, suite 1910, washington 98004., bellevue United StatesUpcoming Dividend • Mar 20Upcoming dividend of US$0.49 per shareEligible shareholders must have bought the stock before 27 March 2025. Payment date: 04 April 2025. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.6%).Recent Insider Transactions • Feb 14Independent Director recently sold US$652k worth of stockOn the 11th of February, Dennis Polk sold around 10k shares on-market at roughly US$67.20 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.9m more than they bought in the last 12 months.Declared Dividend • Feb 09Fourth quarter dividend of US$0.49 announcedShareholders will receive a dividend of US$0.49. Ex-date: 27th March 2025 Payment date: 4th April 2025 Dividend yield will be 2.9%, which is about the same as the industry average.Reported Earnings • Feb 06Full year 2024 earnings: EPS exceeds analyst expectationsFull year 2024 results: EPS: US$1.92 (up from US$1.81 in FY 2023). Revenue: US$382.6m (up 18% from FY 2023). Net income: US$183.7m (up 22% from FY 2023). Profit margin: 48% (up from 47% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 28%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year.お知らせ • Feb 06Terreno Realty Corporation Declares Regular Cash Dividend for the Quarter Ending March 31, 2025, Payable on April 4, 2025Terreno Realty Corporation declared a regular cash dividend for the quarter ending March 31, 2025 of $0.49 per common share. The dividend will be payable on April 4, 2025 to common stockholders of record at the close of business on March 27, 2025.お知らせ • Jan 25Terreno Realty Corporation Announces Resignation of Dennis Polk as DirectorOn January 23, 2025, Dennis Polk informed the Board of Directors of Terreno Realty Corporation that he would not stand for re-election as a director of the Company at the Company’s 2025 Annual Meeting of Stockholders. Mr. Polk will continue to serve on the Board and maintain his committee memberships through the Annual Meeting. Mr. Polk’s decision not to stand for re-election was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.Seeking Alpha • Jan 145 Signs Of Unmatched Quality In Terreno RealtySummary Terreno's insider ownership, strategic property locations, and low leverage set it apart, with management demonstrating excellent capital allocation and property flipping skills. Terreno's valuation, though higher than peers, is justified by its historic and forward AFFO growth, minimal debt, and limited shareholder dilution. Risks include high interest rates, reliance on industrial trends, and key man risk, but Terreno's fundamentals and management quality make it a strong buy. Read the full article on Seeking Alphaお知らせ • Jan 01Terreno Realty Corporation (NYSE:TRNO) acquired Property in Queens, NY for $50.1 million.Terreno Realty Corporation (NYSE:TRNO) acquired Property in Queens, NY for $50.1 million on December 31, 2024. Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Property in Queens, NY for $50.1 million on December 31, 2024.Upcoming Dividend • Dec 06Upcoming dividend of US$0.49 per shareEligible shareholders must have bought the stock before 13 December 2024. Payment date: 07 January 2025. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.2%). In line with average of industry peers (3.6%).Seeking Alpha • Nov 29Terreno Realty: Mixed SignalsSummary Terreno Realty shifted focus from nominal growth to deleveraging, raising questions about internal valuation. The company has a distinguished and so far successful long-term investment philosophy. Despite high valuations, Terreno has issued more shares than assets purchased, suggesting management believes current valuations are rich and possibly overstretched. Read the full article on Seeking Alphaお知らせ • Nov 22An undisclosed buyer acquired 75,000 Square Foot Property at 1401 N.W. 78th Avenue in Doral, Florida from Terreno Realty Corporation (NYSE:TRNO).An undisclosed buyer acquired 75,000 Square Foot Property at 1401 N.W. 78th Avenue in Doral, Florida from Terreno Realty Corporation (NYSE:TRNO) for $20.6 million on November 21, 2024. An undisclosed buyer completed the acquisition of 75,000 Square Foot Property at 1401 N.W. 78th Avenue in Doral, Florida from Terreno Realty Corporation (NYSE:TRNO) on November 21, 2024.Declared Dividend • Nov 10Third quarter dividend of US$0.49 announcedShareholders will receive a dividend of US$0.49. Ex-date: 13th December 2024 Payment date: 7th January 2025 Dividend yield will be 3.0%, which is about the same as the industry average.Reported Earnings • Nov 07Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: US$0.38 (up from US$0.36 in 3Q 2023). Revenue: US$99.6m (up 20% from 3Q 2023). Net income: US$36.8m (up 22% from 3Q 2023). Profit margin: 37% (in line with 3Q 2023). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.4%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.お知らせ • Nov 07Terreno Realty Corporation Declares Regular Cash Dividend for the Quarter Ending December 31, 2024, Payable on January 7, 2025Terreno Realty Corporation declared a regular cash dividend for the quarter ending December 31, 2024 of $0.49 per common share. The dividend will be payable on January 7, 2025 to common stockholders of record at the close of business on December 13, 2024.お知らせ • Oct 29Terreno Realty Corporation Announces Development Start in Hialeah, FLTerreno Realty Corporation announced that it has commenced construction of Countyline Corporate Park Phase IV Building 34 in Hialeah, Florida. Building 34 of Terreno Realty Corporation's Countyline Corporate Park is a 220,000 square foot 36-foot clear height rear-load industrial distribution building on 13.0 acres with 76 dock-high and two grade-level loading positions and parking for 188 cars. Building 34 has been 70% pre-leased to a cruise ship industry provider of non-perishable food items and food service supplies commencing with building completion and tenant build-out, expected to be in the third quarter of 2025, and expiring February 2033. Building 34 is expected to achieve LEED certification, the total expected investment is $55.9 million and the estimated stabilized cap rate is 5.7%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corp.'s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and Parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation' Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Northern New Jersey/New York City; Los Angeles; Miami; San Francisco Bay Area; Seattle and Washington, D.C.Upcoming Dividend • Sep 23Upcoming dividend of US$0.49 per shareEligible shareholders must have bought the stock before 30 September 2024. Payment date: 11 October 2024. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.3%). In line with average of industry peers (3.2%).Seeking Alpha • Sep 09Terreno Realty: Valuation Premium Makes It Inferior Pick In The Industrial SectorSummary Terreno Realty Corporation operates in high-density coastal markets with a strong portfolio, focusing on warehouse, light industrial, R&D, and transshipment properties. Despite market oversupply and cooling demand, TRNO maintains a 96% occupancy rate and achieves significant cash rent increases upon lease expirations. TRNO's short-term weighted average lease term allows for rapid rent adjustments, benefiting from market improvements and potential interest rate cuts. While TRNO has a top-quality portfolio, its premium valuation, high AFFO payout ratio and narrow margin of safety suggest limited upside potential. Read the full article on Seeking Alphaお知らせ • Aug 28Terreno Realty Corporation has filed a Follow-on Equity Offering in the amount of $500 million.Terreno Realty Corporation has filed a Follow-on Equity Offering in the amount of $500 million. Security Name: Common Stock Security Type: Common Stock Security Features: Income Trust Transaction Features: At the Market OfferingRecent Insider Transactions • Aug 14Executive VP & COO recently sold US$422k worth of stockOn the 9th of August, John Meyer sold around 6k shares on-market at roughly US$68.64 per share. This transaction amounted to 3.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was John's only on-market trade for the last 12 months.Recent Insider Transactions Derivative • Aug 12Executive VP & COO notifies of intention to sell stockJohn Meyer intends to sell 6k shares in the next 90 days after lodging an Intent To Sell Form on the 9th of August. If the sale is conducted around the recent share price of US$68.66, it would amount to US$422k. Since March 2024, John's direct individual holding has increased from 177.06k shares to 184.45k. Company insiders have collectively sold US$387k more than they bought, via options and on-market transactions in the last 12 months.Declared Dividend • Aug 11Second quarter dividend of US$0.49 announcedShareholders will receive a dividend of US$0.49. Ex-date: 30th September 2024 Payment date: 11th October 2024 Dividend yield will be 2.7%, which is lower than the industry average of 2.9%.Reported Earnings • Aug 08Second quarter 2024 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2024 results: EPS: US$0.37 (down from US$0.48 in 2Q 2023). Revenue: US$94.2m (up 19% from 2Q 2023). Net income: US$35.5m (down 11% from 2Q 2023). Profit margin: 38% (down from 50% in 2Q 2023). Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.お知らせ • Aug 08Terreno Realty Corporation Declares a Regular Cash Dividend for the Quarter Ending September 30, 2024, Payable on October 11, 2024Terreno Realty Corporation declared a regular cash dividend for the quarter ending September 30, 2024 of $0.49 per common share, an increase of 8.9% over the prior dividend level. The dividend will be payable on October 11, 2024 to common stockholders of record at the close of business on September 30, 2024.Upcoming Dividend • Jun 21Upcoming dividend of US$0.45 per shareEligible shareholders must have bought the stock before 28 June 2024. Payment date: 12 July 2024. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (3.6%).Seeking Alpha • Jun 18Terreno Realty: Nominal Growth Over Per Share GrowthSummary Terreno Realty owns warehouses in major coastal areas, with a focus on value-add and core investments. The company focuses on absolute growth rather than growth per share, leading to caution from investors. Recent acquisitions at tight cap rates and focus on growth over per-share value creation make me cautious here. Read the full article on Seeking Alphaお知らせ • Jun 05Terreno Realty Corporation Announces Addition of Constance Von Muehlen as an Independent DirectorTerreno Realty Corporation announced the addition of Constance von Muehlen as an independent director effective June 1, 2024, expanding its Board of Directors to eight. Ms. von Muehlen has served as Executive Vice President and Chief Operating Officer of Alaska Airlines since April 2021. Ms. von Muehlen holds an FAA Commercial Instrument Helicopter Pilot’s License, graduated with a Bachelor’s degree from Johns Hopkins University and graduated from the Executive MBA program at the Foster School of Business at the University of Washington. Ms.von Muehlen has served previously on the FAA’s Women in Aviation advisory board and the San Jose Public Library Foundation board.Declared Dividend • May 12First quarter dividend of US$0.45 announcedShareholders will receive a dividend of US$0.45. Ex-date: 28th June 2024 Payment date: 12th July 2024 Dividend yield will be 3.3%, which is higher than the industry average of 2.9%.Reported Earnings • May 09First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: US$0.40 (up from US$0.29 in 1Q 2023). Revenue: US$85.0m (up 14% from 1Q 2023). Net income: US$35.9m (up 55% from 1Q 2023). Profit margin: 42% (up from 31% in 1Q 2023). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 9.6%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.お知らせ • May 09Terreno Realty Corporation Declares Cash Dividend for the Quarter Ending June 30, 2024, Payable on July 12, 2024Terreno Realty Corporation declared a regular cash dividend for the quarter ending June 30, 2024 of $0.45 per common share. The dividend will be payable on July 12, 2024 to common stockholders of record at the close of business on June 28, 2024.お知らせ • May 04Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Portfolio of industrial properties located in New York, Northern New Jersey, San Francisco Bay Area.Terreno Realty Corporation (NYSE:TRNO) signed purchase and sale agreement to acquire Portfolio of industrial properties located in New York, Northern New Jersey, San Francisco Bay Area for approximately $360 million on March 25, 2024. The acquisition of the Portfolio is expected to close in the second quarter of 2024. The acquisition of these buildings, including the acquisition of the Portfolio, is subject to due diligence and various closing conditions. In similar transaction Terreno Realty Corporation announced the acquisition of portfolio for $84.3 million. Goldman Sachs & Co. LLC acted as financial advisor to Terreno Realty Corporation (NYSE:TRNO).Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Portfolio of industrial properties located in New York, Northern New Jersey, San Francisco Bay Area on May 2, 2024.お知らせ • Apr 27Terreno Realty Corporation Announces Development Completion in Hialeah, FLTerreno Realty Corporation announced that it has completed the development of Countyline Corporate Park Phase IV Building 38 in Hialeah, Florida. Building 38 is 100% leased to a North American distributor of foodservice packaging, commercial cleaning supplies, janitorial equipment and industrial packaging. Building 38 of Terreno Realty Corporation’s Countyline Corporate Park is a 506,000 square foot 36-foot clear height cross-dock industrial distribution building on 27.6 acres with 105 dock-high and four grade-level loading positions and parking for 360 cars. The building is expected to achieve LEED certification, the total expected investment is $88.5 million and the estimated stabilized cap rate is 5.0%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami’s Countyline Corporate Park (“Countyline”), immediately adjacent to Terreno Realty Corporation’s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida’s Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and parking for 1,875 cars for a total expected investment of approximately $511.5 million. Taken together, Terreno Realty Corporation’s Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.Seeking Alpha • Apr 21Terreno Realty: Too Much Focus On Growth Vs. Growth Per ShareSummary Terreno Realty's shares have fallen due to concerns about slower rental growth and declining occupancy levels. The company focuses on owning and operating warehouse and industrial real estate in major coastal areas of the US, focusing on densely populated areas. Despite strong rental growth and high occupancy rates, the company's valuation and dilution of shares remain concerning. Read the full article on Seeking Alphaお知らせ • Apr 17Terreno Realty Corporation (NYSE:TRNO) acquired Industrial property in Alexandria, Virginia for $84.3 million.Terreno Realty Corporation (NYSE:TRNO) acquired Industrial property in Alexandria, Virginia for $84.3 million on April 15, 2024.Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Industrial property in Alexandria, Virginia for $84.3 million on April 15, 2024.お知らせ • Apr 12Terreno Realty Corporation Announces Development Start in Hialeah, FLTerreno Realty Corporation announced that it has commenced construction of Countyline Corporate Park Phase IV Building 31 in Hialeah, Florida. Building 31 of Terreno Realty Corporation's Countyline Corporate Park is a 162,000 square foot 36-foot clear height rear-load industrial distribution building on 10.0 acres with 53 dock-high and two grade-level loading positions and parking for 140 cars. Building 31 has been 100% pre-leased to a national tire distributor commencing with building completion, expected to be in the fourth quarter of 2024, and expiring May 2032. Building 31 is expected to achieve LEED certification, the total expected investment is $42.1 million and the estimated stabilized cap rate is 6.0%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corp.'s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and Parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation' Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.お知らせ • Mar 27Terreno Realty Corporation has completed a Follow-on Equity Offering in the amount of $341 million.Terreno Realty Corporation has completed a Follow-on Equity Offering in the amount of $341 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 5,500,000 Price\Range: $62 Discount Per Security: $0.71お知らせ • Mar 26Terreno Realty Corporation has filed a Follow-on Equity Offering.Terreno Realty Corporation has filed a Follow-on Equity Offering. Security Name: Common Stock Security Type: Common Stock Securities Offered: 5,000,000お知らせ • Mar 23Terreno Realty Corporation, Annual General Meeting, May 07, 2024Terreno Realty Corporation, Annual General Meeting, May 07, 2024, at 08:00 Pacific Daylight. Location: The Company's Bellevue office, 10500 NE 8th Street, Suite 1910, Bellevue Washington United States Agenda: To consider the election of seven directors, each to serve until the next annual meeting of stockholders and until his or her successor has been duly elected and qualifies; to consider a resolution to approve, on a non-binding, advisory basis, the compensation of certain executives; to consider the ratification of the appointment of Ernst & Young LLP as the company's independent registered certified public accounting firm for the 2024 fiscal year; and to consider such other business as may properly come before the annual meeting, including any adjournments or postponements of the meeting.Upcoming Dividend • Mar 20Upcoming dividend of US$0.45 per shareEligible shareholders must have bought the stock before 27 March 2024. Payment date: 05 April 2024. Trailing yield: 2.8%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.2%).Seeking Alpha • Mar 07Terreno Realty: Attractive Financials But Overvalued (Rating Downgrade)Summary Terreno Realty is a premier industrial REIT with a strong presence in supply-constrained markets. TRNO has shown impressive cash rental growth and same-store NOI growth, with a track record of market-beating returns over the past 10 years. While TRNO has a solid balance sheet and value-add opportunities, its current valuation may not be attractive compared to other industrial REITs. Read the full article on Seeking AlphaNew Risk • Feb 12New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (47% net profit margin). Shareholders have been diluted in the past year (7.3% increase in shares outstanding). Significant insider selling over the past 3 months (US$387k sold).Declared Dividend • Feb 11Fourth quarter dividend of US$0.45 announcedShareholders will receive a dividend of US$0.45. Ex-date: 27th March 2024 Payment date: 5th April 2024 Dividend yield will be 2.8%, which is about the same as the industry average.Reported Earnings • Feb 08Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: US$1.81 (down from US$2.61 in FY 2022). Revenue: US$323.6m (up 17% from FY 2022). Net income: US$150.7m (down 24% from FY 2022). Profit margin: 47% (down from 71% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 08Terreno Realty Corporation Declares Quarterly Dividend, Payable on April 5, 2024Terreno Realty Corporation declared a regular cash dividend for the quarter ending March 31, 2024 of $0.45 per common share. The dividend will be payable on April 5, 2024 to common stockholders of record at the close of business on March 28, 2024.お知らせ • Jan 10Terreno Realty Corporation Announces the Promotion of John Meyer to Chief Operating OfficerTerreno Realty Corporation announced the promotion of John Meyer to Chief Operating Officer, effective January 8, 2024. Mr. Meyer will continue to report to Michael A. Coke, President and W. Blake Baird, Chairman and Chief Executive Officer. Prior to joining the company in 2010, Mr. Meyer was Executive Vice President, Director of Transactions, Southwest Region of North America for AMB Property Corporation. Mr. Meyer holds a BS degree in architecture from the University of Oklahoma.Seeking Alpha • Dec 18Terreno Realty: Quality Is ExpensiveSummary Terreno Realty Corporation owns and operates industrial real estate properties across 6 U.S. coastal markets. The company's portfolio is well-diversified and its operating results have been consistently strong. However, the dividend yield is low and the shares are trading at a large premium to NAV. Read the full article on Seeking AlphaNew Risk • Dec 11New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.01% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.01% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (12% increase in shares outstanding).Upcoming Dividend • Dec 07Upcoming dividend of US$0.45 per share at 3.1% yieldEligible shareholders must have bought the stock before 14 December 2023. Payment date: 05 January 2024. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.8%). In line with average of industry peers (3.1%).株主還元TRNOUS Industrial REITsUS 市場7D-0.8%0.1%0.6%1Y25.9%25.5%20.1%株主還元を見る業界別リターン: TRNO過去 1 年間で25.5 % のリターンをもたらしたUS Industrial REITs業界と一致しました。リターン対市場: TRNO過去 1 年間で20.1 % の収益を上げたUS市場を上回りました。価格変動Is TRNO's price volatile compared to industry and market?TRNO volatilityTRNO Average Weekly Movement3.4%Industrial REITs Industry Average Movement3.4%Market Average Movement7.1%10% most volatile stocks in US Market16.3%10% least volatile stocks in US Market3.1%安定した株価: TRNO 、 US市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: TRNOの 週次ボラティリティ ( 3% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト200947W. Bairdwww.terreno.comテレーノ・リアルティ・コーポレーションは、米国の主要な沿岸6市場において、産業用不動産の取得、所有、運営を行う企業です。同社は本日、フロリダ州ハイアリアにある「カウンティライン・コーポレート・パーク・フェーズIII」において、総面積233,000平方フィートの新規リース更新契約を締結したと発表しました。 「カウンティライン・コーポレート・パーク」の26号棟および28号棟は、合計422,000平方フィートの規模を有し、現在6社のテナントに100％賃貸されており、そのうち83,000平方フィートの賃貸契約は2027年4月に満了する予定であった。 新たな賃貸借契約を円滑に進めるため、テレーノ・リアルティ・コーポレーションは、2027年4月に契約満了予定だったテナントとの間で、2026年7月31日付けの早期解約契約を締結した。 タービンエンジンの分解、修理、物流、保管サービスを提供する企業が、2030年4月に契約満了となるビル28の10万6,000平方フィートのスペースから、ビル26の8万3,000平方フィートのスペースへ移転する。 この賃貸借契約は2026年8月1日に開始され、2035年3月に満了する予定です。また、テレーノ・リアルティ・コーポレーションは、ビル28に入居する世界的な包装資材卸売業者との間で、契約の早期更新および拡張に関する賃貸借契約を締結しました。 43,000平方フィートの早期更新契約は2027年10月1日に発効し、2035年1月に満了する。106,000平方フィートの拡張賃貸契約は2026年11月1日に発効し、2035年1月に満了する見込みである。 新たな賃貸借契約の発効後、カウンティライン・コーポレート・パークの26号棟および28号棟は、5社のテナントに100％賃貸されることになります。テレーノ・リアルティ・コーポレーションは、米国沿岸部の6つの主要市場（ニューヨーク市／ニュージャージー州北部、ロサンゼルス、マイアミ、 サンフランシスコ・ベイエリア、シアトル、およびワシントンD C.。テレーノ・リアルティ・コーポレーションは2009年11月6日に設立され、米国ベルビューに本社を置いている。もっと見るTerreno Realty Corporation 基礎のまとめTerreno Realty の収益と売上を時価総額と比較するとどうか。TRNO 基礎統計学時価総額US$7.43b収益（TTM）US$386.82m売上高(TTM)US$502.88m19.2xPER（株価収益率14.8xP/SレシオTRNO は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計TRNO 損益計算書（TTM）収益US$502.88m売上原価US$119.66m売上総利益US$383.23mその他の費用-US$3.60m収益US$386.82m直近の収益報告Jun 30, 2026次回決算日該当なし一株当たり利益（EPS）3.55グロス・マージン76.21%純利益率76.92%有利子負債／自己資本比率21.3%TRNO の長期的なパフォーマンスは？過去の実績と比較を見る配当金3.3%現在の配当利回り71%配当性向TRNO 配当は確実ですか？TRNO 配当履歴とベンチマークを見るTRNO 、いつまでに購入すれば配当金を受け取れますか？Terreno Realty 配当日配当落ち日Sep 30 2026配当支払日Oct 09 2026配当落ちまでの日数44 days配当支払日までの日数53 daysTRNO 配当は確実ですか？TRNO 配当履歴とベンチマークを見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/08/16 21:05終値2026/08/14 00:00収益2026/06/30年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Terreno Realty Corporation 13 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。28 アナリスト機関David RodgersBairdBrendan LynchBarclaysConnor SiverskyBerenberg25 その他のアナリストを表示
Recent Insider Transactions • Aug 11Co-Founder recently sold US$547k worth of stockOn the 7th of August, Michael Coke sold around 8k shares on-market at roughly US$68.38 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Michael has been a net seller over the last 12 months, reducing personal holdings by US$1.1m.
ライブニュース • Aug 09Terreno Realty Secures 233,000 SF Lease Renewals and Expansions in HialeahTerreno Realty signed renewal and expansion leases covering 233,000 square feet at Countyline Corporate Park Phase III in Hialeah, Florida. The activity includes an early termination of an existing lease effective 31 July 2026 to free space, a relocation lease for a turbine engine service provider running from 1 August 2026 to March 2035, and an early renewal and expansion for a global wholesale packaging tenant. These agreements mean Buildings 26 and 28 at Countyline Corporate Park Phase III are now fully leased to five tenants, pointing to higher utilization of this part of Terreno Realty’s industrial portfolio and clearer visibility on occupancy for the coming years. Terreno Realty shares trade at US$68.76, with the stock up 16.5% year to date. The read-through is that Terreno Realty is locking in industrial tenants on longer terms at a key South Florida park, which can reduce vacancy risk but also concentrates exposure to a handful of tenants in that location.
Declared Dividend • Aug 09Second quarter dividend of US$0.57 announcedShareholders will receive a dividend of US$0.57. Ex-date: 30th September 2026 Payment date: 9th October 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.9%.
Recent Insider Transactions Derivative • Aug 07Co-Founder notifies of intention to sell stockMichael Coke intends to sell 8k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of August. If the sale is conducted around the recent share price of US$67.81, it would amount to US$543k. Michael currently holds less than 1% of total shares outstanding. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months.
Reported Earnings • Aug 06Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2026 results: EPS: US$0.54 (down from US$0.90 in 2Q 2025). Revenue: US$124.7m (up 11% from 2Q 2025). Net income: US$57.3m (down 38% from 2Q 2025). Profit margin: 46% (down from 83% in 2Q 2025). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 32%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
お知らせ • Aug 06Terreno Realty Corporation Announces Regular Cash Dividend for the Quarter Ending September 30, 2026, Payable on October 9, 2026Terreno Realty Corporation declared a regular cash dividend for the quarter ending September 30, 2026 of $0.57 per common share, an increase of 9.6% over the prior dividend level. The dividend will be payable on October 9, 2026 to common stockholders of record at the close of business on September 30, 2026.
Recent Insider Transactions • Aug 11Co-Founder recently sold US$547k worth of stockOn the 7th of August, Michael Coke sold around 8k shares on-market at roughly US$68.38 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Michael has been a net seller over the last 12 months, reducing personal holdings by US$1.1m.
ライブニュース • Aug 09Terreno Realty Secures 233,000 SF Lease Renewals and Expansions in HialeahTerreno Realty signed renewal and expansion leases covering 233,000 square feet at Countyline Corporate Park Phase III in Hialeah, Florida. The activity includes an early termination of an existing lease effective 31 July 2026 to free space, a relocation lease for a turbine engine service provider running from 1 August 2026 to March 2035, and an early renewal and expansion for a global wholesale packaging tenant. These agreements mean Buildings 26 and 28 at Countyline Corporate Park Phase III are now fully leased to five tenants, pointing to higher utilization of this part of Terreno Realty’s industrial portfolio and clearer visibility on occupancy for the coming years. Terreno Realty shares trade at US$68.76, with the stock up 16.5% year to date. The read-through is that Terreno Realty is locking in industrial tenants on longer terms at a key South Florida park, which can reduce vacancy risk but also concentrates exposure to a handful of tenants in that location.
Declared Dividend • Aug 09Second quarter dividend of US$0.57 announcedShareholders will receive a dividend of US$0.57. Ex-date: 30th September 2026 Payment date: 9th October 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.9%.
Recent Insider Transactions Derivative • Aug 07Co-Founder notifies of intention to sell stockMichael Coke intends to sell 8k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of August. If the sale is conducted around the recent share price of US$67.81, it would amount to US$543k. Michael currently holds less than 1% of total shares outstanding. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months.
Reported Earnings • Aug 06Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2026 results: EPS: US$0.54 (down from US$0.90 in 2Q 2025). Revenue: US$124.7m (up 11% from 2Q 2025). Net income: US$57.3m (down 38% from 2Q 2025). Profit margin: 46% (down from 83% in 2Q 2025). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 32%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
お知らせ • Aug 06Terreno Realty Corporation Announces Regular Cash Dividend for the Quarter Ending September 30, 2026, Payable on October 9, 2026Terreno Realty Corporation declared a regular cash dividend for the quarter ending September 30, 2026 of $0.57 per common share, an increase of 9.6% over the prior dividend level. The dividend will be payable on October 9, 2026 to common stockholders of record at the close of business on September 30, 2026.
ライブニュース • Jul 28Terreno Realty Lands $98.8 Million Queens Lease With Leading E-Commerce TenantTerreno Realty has leased an 81,000 square foot industrial property with two floors of indoor parking on 4.0 acres in College Point, Queens, to a leading e-commerce firm, with the lease running from July 24, 2026 to July 2029 and renewal options available, tied to a total expected investment of US$98.8 million. The full-property lease increases visibility on occupancy and rental income for a sizeable New York asset, which matters given the level of capital Terreno is committing to this single location. Terreno Realty shares trade at US$72.99, with the stock up 23.7% year to date, so the market has already priced in some positive expectations around the business. This Queens lease concentrates more exposure in a key urban market, which can support income if the tenant relationship remains solid but also raises risk if that tenant’s needs change when renewal decisions come up.
ライブニュース • Jul 25Terreno Realty Secures 244,000 Sq Ft Freight Forwarder Lease in Carson Through 2031Terreno Realty signed a combined 244,000 sq ft lease package in Carson, CA with a global freight forwarder, including two renewals and an expansion across two buildings, running from 15 September 2026 to September 2031. The agreement covers a 146,000 sq ft partial building lease, a 34,000 sq ft full building lease and a 64,000 sq ft expansion that fully leases one building to a single tenant and immediately backfills an expiring lease, tightening occupancy on this part of the portfolio. Terreno Realty shares trade at $72.68, with the stock up 23.1% year to date, reflecting recent share price momentum alongside this leasing update. Locked-in occupancy through 2031 with a single global logistics tenant can help steady rental cash flows, though investors still need to watch renewal risk when this sizable lease eventually rolls over.
Seeking Alpha • Jul 15Terreno Realty Is Great, But We SoldSummary Terreno Realty was sold as shares became overpriced, trading above 30x forward AFFO amid rising Treasury yields. TRNO's strong industrial portfolio and robust same-property NOI growth justified premium multiples, but current valuation exceeds prudent expectations. Despite minimal debt exposure and superior management, TRNO's revised EBITDA yield of 3.96% highlights stretched valuation versus peers like REXR. I remain positive on TRNO's execution and growth prospects but view current pricing as unjustifiable, warranting profit-taking and ongoing monitoring. Read the full article on Seeking Alpha
ライブニュース • Jun 28Terreno Realty Secures Major Coastal Leases and Acquisitions Totaling $146.4 MillionTerreno Realty secured a 102,000-square-foot early lease renewal in Hayward, California, a new 92,000-square-foot lease in Kearny, New Jersey, and bought three industrial properties in Florida, Maryland and Virginia for about $146.4 million in Q1 2026. These properties are described as predominantly leased, which the company states adds visibility to future rental income and extends Terreno Realty’s reach in coastal logistics hubs where tenant retention has been high. Terreno Realty shares trade at $65.98, with the stock up 11.8% year to date. The key read-through is that Terreno Realty is committing fresh capital to income-producing coastal industrial assets while locking in tenants on sizable leases. This increases exposure to leasing and interest rate risk but also supports more predictable cash flow from a larger portfolio.
Upcoming Dividend • Jun 20Upcoming dividend of US$0.52 per shareEligible shareholders must have bought the stock before 26 June 2026. Payment date: 10 July 2026. Trailing yield: 3.2%. Lower than top quartile of American dividend payers (4.3%). In line with average of industry peers (3.5%).
分析記事 • Jun 19Terreno Realty (TRNO) Stock Looks Fairly Priced With A Slight DCF PremiumTerreno Realty (TRNO) continues to attract investor attention as an industrial REIT focused on major U.S. coastal markets. The stock recently closed at $64.35 and has shown mixed short term return trends. See our latest analysis for Terreno Realty. Over the past year Terreno Realty has paired a 9.03% year to date share price return with a 14.53% 1 year total shareholder return, while the stronger 24.01% 3 year total shareholder return suggests momentum has been building over a longer...
ライブニュース • Jun 18Terreno Realty Stock: New $77 Million Landover Property Expands Coastal Market PortfolioTerreno Realty acquired an industrial property in Landover, Maryland, for US$77.1 million. The site includes three industrial distribution buildings on 24.0 acres. The property is approximately 92% leased to nine tenants and is part of Terreno Realty’s portfolio in six major U.S. coastal markets. The acquisition adds another leased industrial asset to Terreno Realty’s coastal market footprint, which may support rental income stability given the multi-tenant structure and existing occupancy level. Investors may want to watch how Terreno Realty manages lease rollovers at this property and whether future disclosures provide more detail on returns relative to the acquisition cost.
ライブニュース • Jun 06Terreno Realty Acquires Fully Leased San Francisco Industrial Property for US$25.9 MillionTerreno Realty acquired an industrial property in San Francisco, California, for US$25.9 million on June 4, 2026. The asset consists of a single industrial distribution building that is fully leased to four tenants. All existing leases at the property run through dates up to May 2031, providing multi‑year income visibility. This deal adds another coastal industrial asset to Terreno’s portfolio with existing occupancy and lease terms that extend over several years, which can support a steadier rental income profile. Investors may want to pay attention to how the acquisition affects Terreno’s balance sheet, lease rollover schedule, and exposure to the San Francisco industrial market over time.
Major Estimate Revision • May 17Consensus EPS estimates increase by 40%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from US$1.39 to US$1.95. Revenue forecast steady at US$513.5m. Net income forecast to shrink 53% next year vs 11% decline forecast for Industrial REITs industry in the US. Consensus price target broadly unchanged at US$70.24. Share price was steady at US$65.05 over the past week.
Declared Dividend • May 11First quarter dividend of US$0.52 announcedShareholders will receive a dividend of US$0.52. Ex-date: 26th June 2026 Payment date: 10th July 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.9%.
お知らせ • May 08Terreno Realty Corporation announces Quarterly dividend, payable on July 10, 2026Terreno Realty Corporation announced Quarterly dividend of USD 0.5200 per share payable on July 10, 2026, ex-date on June 26, 2026 and record date on June 26, 2026.
Reported Earnings • May 07First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: US$0.67 (up from US$0.48 in 1Q 2025). Revenue: US$124.4m (up 13% from 1Q 2025). Net income: US$69.8m (up 46% from 1Q 2025). Profit margin: 56% (up from 43% in 1Q 2025). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 98%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
お知らせ • Apr 14Terreno Realty Corporation Announces Development Completion in Hialeah, FLTerreno Realty Corporation announced that it has completed the development and stabilization of Countyline Corporate Park Phase IV Building 34 in Hialeah, Florida. Building 34 is 100% leased to three tenants. Building 34 of Terreno Realty Corporation’s Countyline Corporate Park is a 220,000 square foot 36-foot clear height rear-load industrial distribution building on 13.0 acres with 76 dock-high and two grade-level loading positions and parking for 188 cars. The building is expected to achieve LEED certification, the total investment is $55.3 million and the estimated stabilized cap rate is 5.7%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami’s Countyline Corporate Park (“Countyline”), immediately adjacent to Terreno Realty Corporation’s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida’s Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and parking for 1,875 cars for a total expected investment of approximately $508.5 million. Taken together, Terreno Realty Corporation’s Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) dividend by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
お知らせ • Apr 09An undisclosed buyer acquired Industrial Property Located in Torrance, California from Terreno Realty Corporation (NYSE:TRNO) for $31.1 million.An undisclosed buyer acquired Industrial Property Located in Torrance, California from Terreno Realty Corporation (NYSE:TRNO) for $31.1 million on April 7, 2026. An undisclosed buyer completed the acquisition of Industrial Property Located in Torrance, California from Terreno Realty Corporation (NYSE:TRNO) on April 7, 2026.
お知らせ • Mar 23Terreno Realty Corporation, Annual General Meeting, May 05, 2026Terreno Realty Corporation, Annual General Meeting, May 05, 2026. Location: bellevue office, 10500 ne 8th street, suite 1910, washington 98004., bellevue United States
Upcoming Dividend • Mar 20Upcoming dividend of US$0.52 per shareEligible shareholders must have bought the stock before 27 March 2026. Payment date: 10 April 2026. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.4%). In line with average of industry peers (3.7%).
お知らせ • Mar 10An undisclosed buyer acquired Industrial Property located in Lanham, Maryland from Terreno Realty Corporation (NYSE:TRNO) for approximately $11.1 million.An undisclosed buyer acquired Industrial Property located in Lanham, Maryland from Terreno Realty Corporation (NYSE:TRNO) for approximately $11.1 million on March 6, 2026. An undisclosed buyer completed the acquisition of Industrial Property located in Lanham, Maryland from Terreno Realty Corporation (NYSE:TRNO) on March 6, 2026.
お知らせ • Feb 18Terreno Realty Corporation has filed a Follow-on Equity Offering in the amount of $500 million.Terreno Realty Corporation has filed a Follow-on Equity Offering in the amount of $500 million. Security Name: Common Stock Security Type: Common Stock Transaction Features: At the Market Offering
Recent Insider Transactions • Feb 12Executive VP recently sold US$462k worth of stockOn the 9th of February, Jaime Cannon sold around 7k shares on-market at roughly US$65.99 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jaime's only on-market trade for the last 12 months.
Major Estimate Revision • Feb 11Consensus EPS estimates fall by 21%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$1.62 to US$1.29 per share. Revenue forecast steady at US$507.6m. Net income forecast to shrink 62% next year vs 5.9% decline forecast for Industrial REITs industry in the US. Consensus price target up from US$66.29 to US$69.00. Share price was steady at US$65.43 over the past week.
Declared Dividend • Feb 08Fourth quarter dividend of US$0.52 announcedShareholders will receive a dividend of US$0.52. Ex-date: 27th March 2026 Payment date: 10th April 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.9%.
Reported Earnings • Feb 06Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: FFO per share: US$2.8 (up from US$2.43 in FY 2024). Revenue: US$476.4m (up 25% from FY 2024). Funds from operations (FFO): US$284.7m (up 23% from FY 2024). FFO margin: 60% (in line with FY 2024). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 35%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 05Terreno Realty Corporation Declares Quarterly Dividend, Payable on April 10, 2026Terreno Realty Corporation declared a regular cash dividend for the quarter ending March 31, 2026 of $0.52 per common share. The dividend will be payable on April 10, 2026 to common stockholders of record at the close of business on March 27, 2026.
お知らせ • Jan 20Terreno Realty Corporation Announces Development Completion in Hialeah, FLTerreno Realty Corporation announced that it has completed the development and stabilization of Countyline Corporate Park Phase IV Building 32 in Hialeah, Florida. Building 32 is 100% leased to two tenants. Building 32 of Terreno Realty Corporation's Countyline Corporate Park is a 164,000 square foot 36-foot clear height rear-load industrial distribution building on 8.3 acres with 53 dock-high and two grade-level loading positions and parking for 148 cars. The building is expected to achieve LEED certification, the total investment is $43.4 million and the estimated stabilized cap rate is 6.0%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corp.'s seven buildings within Countyline (Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and Parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation' Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) dividend by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
Upcoming Dividend • Dec 08Upcoming dividend of US$0.52 per shareEligible shareholders must have bought the stock before 15 December 2025. Payment date: 09 January 2026. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (3.7%).
お知らせ • Dec 03Terreno Realty Corporation Announces Development Start in Hialeah, FLTerreno Realty Corporation announced that it has commenced construction of Countyline Corporate Park Phase IV Building 35 in Hialeah, Florida; the tenth and final building to be developed in Countyline Corporate Park Phase IV. Building 35 of Terreno Realty Corporation's Countyline Corporate Park is a 220,000 square foot 36-foot clear height rear-load industrial distribution building on 10.7 acres with 78 dock-high and two grade-level loading positions and parking for 185 cars. Building 35 is expected to complete shell construction in the fourth quarter of 2026 and achieve LEED certification. The total expected investment of Building 35 is $55.5 million and the estimated stabilized cap rate is 6.0%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corp.'s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 655 dock-high and 23 grade-level loading positions and Parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation' Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) dividend by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
Declared Dividend • Nov 09Third quarter dividend of US$0.52 announcedShareholders will receive a dividend of US$0.52. Ex-date: 15th December 2025 Payment date: 9th January 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.9%.
Reported Earnings • Nov 06Third quarter 2025 earnings: EPS and revenues exceed analyst expectationsThird quarter 2025 results: EPS: US$1.01 (up from US$0.37 in 3Q 2024). Revenue: US$116.2m (up 17% from 3Q 2024). Net income: US$103.8m (up 185% from 3Q 2024). Profit margin: 89% (up from 37% in 3Q 2024). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 172%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat.
お知らせ • Nov 06Terreno Realty Corporation Declares Quarterly Dividend, Payable on January 9, 2026Terreno Realty Corporation declared a regular cash dividend for the quarter ending December 31, 2025 of $0.52 per common share. The dividend will be payable on January 9, 2026 to common stockholders of record at the close of business on December 15, 2025.
お知らせ • Nov 05Terreno Realty Corporation Adds Paul J. Donahue, Jr. as Independent Director, Effective November 4, 2025Terreno Realty Corporation announced the addition of Paul J. Donahue, Jr. as an independent director effective November 4, 2025, expanding its Board of Directors to eight. Mr. Donahue is Managing Partner and Co-Founder of Black Squirrel Partners, a growth equity and content platform. Mr. Donahue retired from Morgan Stanley in 2020 after a 32-year career serving most recently as Head of Americas Equity Capital Markets and Chairman of the Equity Underwriting Committee. Mr. Donahue earned degrees in Business Economics and Organizational Behavior & Management from Brown University. Mr. Donahue is a director of PBF Energy and Servco Pacific Inc. Mr. Donahue also serves on the philanthropic Boards of the T.J. Martell Foundation and All Within My Hands. Mr. Donahue has been appointed to serve on the Nominating and Corporate Governance Committee, Compensation Committee and Audit Committee.
お知らせ • Sep 30Terreno Realty Corporation Announces Development Start in Hialeah, FLTerreno Realty Corporation announced that it has commenced construction of Countyline Corporate Park Phase IV Building 36 in Hialeah, Florida. Building 36 of Terreno Realty Corporation's Countyline Corporate Park is a 214,000 square foot 36-foot clear height rear-load industrial distribution building on 11.7 acres with 75 dock-high and two grade-level loading positions and parking for 185 cars. Building 36 has been 51% pre-leased to an international logistics management company specializing in freight forward and consolidating services commencing with building completion and tenant build-out, expected to be in the first quarter of 2027, and expiring June 2037. Building 36 is expected to achieve LEED certification, the total expected investment is $54.1 million and the estimated stabilized cap rate is 5.8%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corporation' seven buildings within Countyline (Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 655 dock-high and 23 grade- level loading positions and parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation its Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) dividend by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. Terreno Realty Corporation 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.
Upcoming Dividend • Sep 22Upcoming dividend of US$0.52 per shareEligible shareholders must have bought the stock before 29 September 2025. Payment date: 10 October 2025. Trailing yield: 3.6%. Lower than top quartile of American dividend payers (4.4%). In line with average of industry peers (3.9%).
Recent Insider Transactions • Aug 17Co-Founder recently sold US$540k worth of stockOn the 14th of August, Michael Coke sold around 10k shares on-market at roughly US$53.96 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months.
Recent Insider Transactions Derivative • Aug 15Co-Founder notifies of intention to sell stockMichael Coke intends to sell 10k shares in the next 90 days after lodging an Intent To Sell Form on the 14th of August. If the sale is conducted around the recent share price of US$53.51, it would amount to US$535k. Since March 2025, Michael's direct individual holding has increased from 577.10k shares to 597.36k. There has only been one transaction (US$652k sale) from insiders over the last 12 months.
Declared Dividend • Aug 10Second quarter dividend of US$0.52 announcedShareholders will receive a dividend of US$0.52. Ex-date: 29th September 2025 Payment date: 10th October 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.9%.
New Risk • Aug 07New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 4.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.6% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.
Reported Earnings • Aug 07Second quarter 2025 earnings: EPS exceeds analyst expectationsSecond quarter 2025 results: EPS: US$0.90 (up from US$0.37 in 2Q 2024). Revenue: US$112.2m (up 19% from 2Q 2024). Net income: US$92.9m (up 161% from 2Q 2024). Profit margin: 83% (up from 38% in 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 141%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 6% per year and the company’s share price has also fallen by 6% per year.
お知らせ • Aug 07Terreno Realty Corporation Declares Regular Quarterly Cash Dividend for the Quarter Ending September 30, 2025, Payable on October 10, 2025Terreno Realty Corporation declared a regular cash dividend for the quarter ending September 30, 2025 of $0.52 per common share, an increase of 6.1% over the prior dividend level. The dividend will be payable on October 10, 2025 to common stockholders of record at the close of business on September 29, 2025.
Upcoming Dividend • Jun 20Upcoming dividend of US$0.49 per shareEligible shareholders must have bought the stock before 27 June 2025. Payment date: 11 July 2025. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (4.1%).
お知らせ • May 28An undisclosed buyer acquired Industrial property located in Commerce, California from Terreno Realty Corporation (NYSE:TRNO) for approximately $97 million.An undisclosed buyer acquired Industrial property located in Commerce, California from Terreno Realty Corporation (NYSE:TRNO) for approximately $97 million on May 22, 2025. An undisclosed buyer completed the acquisition of Industrial property located in Commerce, California from Terreno Realty Corporation (NYSE:TRNO) on May 22, 2025.
Declared Dividend • May 11First quarter dividend of US$0.49 announcedShareholders will receive a dividend of US$0.49. Ex-date: 27th June 2025 Payment date: 11th July 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.9%.
Reported Earnings • May 08First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: US$0.48 (up from US$0.40 in 1Q 2024). Revenue: US$110.4m (up 30% from 1Q 2024). Net income: US$47.9m (up 34% from 1Q 2024). Profit margin: 43% (up from 42% in 1Q 2024). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 34%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 3% per year.
お知らせ • May 08Terreno Realty Corporation Declares Regular Cash Dividend for the Quarter Ending June 30, 2025, Payable on July 11, 2025Terreno Realty Corporation declared a regular cash dividend for the quarter ending June 30, 2025 of $0.49 per common share. The dividend will be payable on July 11, 2025 to common stockholders of record at the close of business on June 27, 2025.
Buy Or Sell Opportunity • Apr 21Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 13% to US$55.83. The fair value is estimated to be US$71.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 4.6% per annum over the same time period.
Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to US$53.40, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 29x in the Industrial REITs industry in the US. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$85.76 per share.
お知らせ • Mar 24Terreno Realty Corporation, Annual General Meeting, May 06, 2025Terreno Realty Corporation, Annual General Meeting, May 06, 2025. Location: bellevue office, 10500 ne 8th street, suite 1910, washington 98004., bellevue United States
Upcoming Dividend • Mar 20Upcoming dividend of US$0.49 per shareEligible shareholders must have bought the stock before 27 March 2025. Payment date: 04 April 2025. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.6%).
Recent Insider Transactions • Feb 14Independent Director recently sold US$652k worth of stockOn the 11th of February, Dennis Polk sold around 10k shares on-market at roughly US$67.20 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.9m more than they bought in the last 12 months.
Declared Dividend • Feb 09Fourth quarter dividend of US$0.49 announcedShareholders will receive a dividend of US$0.49. Ex-date: 27th March 2025 Payment date: 4th April 2025 Dividend yield will be 2.9%, which is about the same as the industry average.
Reported Earnings • Feb 06Full year 2024 earnings: EPS exceeds analyst expectationsFull year 2024 results: EPS: US$1.92 (up from US$1.81 in FY 2023). Revenue: US$382.6m (up 18% from FY 2023). Net income: US$183.7m (up 22% from FY 2023). Profit margin: 48% (up from 47% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 28%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year.
お知らせ • Feb 06Terreno Realty Corporation Declares Regular Cash Dividend for the Quarter Ending March 31, 2025, Payable on April 4, 2025Terreno Realty Corporation declared a regular cash dividend for the quarter ending March 31, 2025 of $0.49 per common share. The dividend will be payable on April 4, 2025 to common stockholders of record at the close of business on March 27, 2025.
お知らせ • Jan 25Terreno Realty Corporation Announces Resignation of Dennis Polk as DirectorOn January 23, 2025, Dennis Polk informed the Board of Directors of Terreno Realty Corporation that he would not stand for re-election as a director of the Company at the Company’s 2025 Annual Meeting of Stockholders. Mr. Polk will continue to serve on the Board and maintain his committee memberships through the Annual Meeting. Mr. Polk’s decision not to stand for re-election was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.
Seeking Alpha • Jan 145 Signs Of Unmatched Quality In Terreno RealtySummary Terreno's insider ownership, strategic property locations, and low leverage set it apart, with management demonstrating excellent capital allocation and property flipping skills. Terreno's valuation, though higher than peers, is justified by its historic and forward AFFO growth, minimal debt, and limited shareholder dilution. Risks include high interest rates, reliance on industrial trends, and key man risk, but Terreno's fundamentals and management quality make it a strong buy. Read the full article on Seeking Alpha
お知らせ • Jan 01Terreno Realty Corporation (NYSE:TRNO) acquired Property in Queens, NY for $50.1 million.Terreno Realty Corporation (NYSE:TRNO) acquired Property in Queens, NY for $50.1 million on December 31, 2024. Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Property in Queens, NY for $50.1 million on December 31, 2024.
Upcoming Dividend • Dec 06Upcoming dividend of US$0.49 per shareEligible shareholders must have bought the stock before 13 December 2024. Payment date: 07 January 2025. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.2%). In line with average of industry peers (3.6%).
Seeking Alpha • Nov 29Terreno Realty: Mixed SignalsSummary Terreno Realty shifted focus from nominal growth to deleveraging, raising questions about internal valuation. The company has a distinguished and so far successful long-term investment philosophy. Despite high valuations, Terreno has issued more shares than assets purchased, suggesting management believes current valuations are rich and possibly overstretched. Read the full article on Seeking Alpha
お知らせ • Nov 22An undisclosed buyer acquired 75,000 Square Foot Property at 1401 N.W. 78th Avenue in Doral, Florida from Terreno Realty Corporation (NYSE:TRNO).An undisclosed buyer acquired 75,000 Square Foot Property at 1401 N.W. 78th Avenue in Doral, Florida from Terreno Realty Corporation (NYSE:TRNO) for $20.6 million on November 21, 2024. An undisclosed buyer completed the acquisition of 75,000 Square Foot Property at 1401 N.W. 78th Avenue in Doral, Florida from Terreno Realty Corporation (NYSE:TRNO) on November 21, 2024.
Declared Dividend • Nov 10Third quarter dividend of US$0.49 announcedShareholders will receive a dividend of US$0.49. Ex-date: 13th December 2024 Payment date: 7th January 2025 Dividend yield will be 3.0%, which is about the same as the industry average.
Reported Earnings • Nov 07Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: US$0.38 (up from US$0.36 in 3Q 2023). Revenue: US$99.6m (up 20% from 3Q 2023). Net income: US$36.8m (up 22% from 3Q 2023). Profit margin: 37% (in line with 3Q 2023). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.4%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
お知らせ • Nov 07Terreno Realty Corporation Declares Regular Cash Dividend for the Quarter Ending December 31, 2024, Payable on January 7, 2025Terreno Realty Corporation declared a regular cash dividend for the quarter ending December 31, 2024 of $0.49 per common share. The dividend will be payable on January 7, 2025 to common stockholders of record at the close of business on December 13, 2024.
お知らせ • Oct 29Terreno Realty Corporation Announces Development Start in Hialeah, FLTerreno Realty Corporation announced that it has commenced construction of Countyline Corporate Park Phase IV Building 34 in Hialeah, Florida. Building 34 of Terreno Realty Corporation's Countyline Corporate Park is a 220,000 square foot 36-foot clear height rear-load industrial distribution building on 13.0 acres with 76 dock-high and two grade-level loading positions and parking for 188 cars. Building 34 has been 70% pre-leased to a cruise ship industry provider of non-perishable food items and food service supplies commencing with building completion and tenant build-out, expected to be in the third quarter of 2025, and expiring February 2033. Building 34 is expected to achieve LEED certification, the total expected investment is $55.9 million and the estimated stabilized cap rate is 5.7%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corp.'s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and Parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation' Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Northern New Jersey/New York City; Los Angeles; Miami; San Francisco Bay Area; Seattle and Washington, D.C.
Upcoming Dividend • Sep 23Upcoming dividend of US$0.49 per shareEligible shareholders must have bought the stock before 30 September 2024. Payment date: 11 October 2024. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.3%). In line with average of industry peers (3.2%).
Seeking Alpha • Sep 09Terreno Realty: Valuation Premium Makes It Inferior Pick In The Industrial SectorSummary Terreno Realty Corporation operates in high-density coastal markets with a strong portfolio, focusing on warehouse, light industrial, R&D, and transshipment properties. Despite market oversupply and cooling demand, TRNO maintains a 96% occupancy rate and achieves significant cash rent increases upon lease expirations. TRNO's short-term weighted average lease term allows for rapid rent adjustments, benefiting from market improvements and potential interest rate cuts. While TRNO has a top-quality portfolio, its premium valuation, high AFFO payout ratio and narrow margin of safety suggest limited upside potential. Read the full article on Seeking Alpha
お知らせ • Aug 28Terreno Realty Corporation has filed a Follow-on Equity Offering in the amount of $500 million.Terreno Realty Corporation has filed a Follow-on Equity Offering in the amount of $500 million. Security Name: Common Stock Security Type: Common Stock Security Features: Income Trust Transaction Features: At the Market Offering
Recent Insider Transactions • Aug 14Executive VP & COO recently sold US$422k worth of stockOn the 9th of August, John Meyer sold around 6k shares on-market at roughly US$68.64 per share. This transaction amounted to 3.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was John's only on-market trade for the last 12 months.
Recent Insider Transactions Derivative • Aug 12Executive VP & COO notifies of intention to sell stockJohn Meyer intends to sell 6k shares in the next 90 days after lodging an Intent To Sell Form on the 9th of August. If the sale is conducted around the recent share price of US$68.66, it would amount to US$422k. Since March 2024, John's direct individual holding has increased from 177.06k shares to 184.45k. Company insiders have collectively sold US$387k more than they bought, via options and on-market transactions in the last 12 months.
Declared Dividend • Aug 11Second quarter dividend of US$0.49 announcedShareholders will receive a dividend of US$0.49. Ex-date: 30th September 2024 Payment date: 11th October 2024 Dividend yield will be 2.7%, which is lower than the industry average of 2.9%.
Reported Earnings • Aug 08Second quarter 2024 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2024 results: EPS: US$0.37 (down from US$0.48 in 2Q 2023). Revenue: US$94.2m (up 19% from 2Q 2023). Net income: US$35.5m (down 11% from 2Q 2023). Profit margin: 38% (down from 50% in 2Q 2023). Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
お知らせ • Aug 08Terreno Realty Corporation Declares a Regular Cash Dividend for the Quarter Ending September 30, 2024, Payable on October 11, 2024Terreno Realty Corporation declared a regular cash dividend for the quarter ending September 30, 2024 of $0.49 per common share, an increase of 8.9% over the prior dividend level. The dividend will be payable on October 11, 2024 to common stockholders of record at the close of business on September 30, 2024.
Upcoming Dividend • Jun 21Upcoming dividend of US$0.45 per shareEligible shareholders must have bought the stock before 28 June 2024. Payment date: 12 July 2024. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (3.6%).
Seeking Alpha • Jun 18Terreno Realty: Nominal Growth Over Per Share GrowthSummary Terreno Realty owns warehouses in major coastal areas, with a focus on value-add and core investments. The company focuses on absolute growth rather than growth per share, leading to caution from investors. Recent acquisitions at tight cap rates and focus on growth over per-share value creation make me cautious here. Read the full article on Seeking Alpha
お知らせ • Jun 05Terreno Realty Corporation Announces Addition of Constance Von Muehlen as an Independent DirectorTerreno Realty Corporation announced the addition of Constance von Muehlen as an independent director effective June 1, 2024, expanding its Board of Directors to eight. Ms. von Muehlen has served as Executive Vice President and Chief Operating Officer of Alaska Airlines since April 2021. Ms. von Muehlen holds an FAA Commercial Instrument Helicopter Pilot’s License, graduated with a Bachelor’s degree from Johns Hopkins University and graduated from the Executive MBA program at the Foster School of Business at the University of Washington. Ms.von Muehlen has served previously on the FAA’s Women in Aviation advisory board and the San Jose Public Library Foundation board.
Declared Dividend • May 12First quarter dividend of US$0.45 announcedShareholders will receive a dividend of US$0.45. Ex-date: 28th June 2024 Payment date: 12th July 2024 Dividend yield will be 3.3%, which is higher than the industry average of 2.9%.
Reported Earnings • May 09First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: US$0.40 (up from US$0.29 in 1Q 2023). Revenue: US$85.0m (up 14% from 1Q 2023). Net income: US$35.9m (up 55% from 1Q 2023). Profit margin: 42% (up from 31% in 1Q 2023). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 9.6%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
お知らせ • May 09Terreno Realty Corporation Declares Cash Dividend for the Quarter Ending June 30, 2024, Payable on July 12, 2024Terreno Realty Corporation declared a regular cash dividend for the quarter ending June 30, 2024 of $0.45 per common share. The dividend will be payable on July 12, 2024 to common stockholders of record at the close of business on June 28, 2024.
お知らせ • May 04Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Portfolio of industrial properties located in New York, Northern New Jersey, San Francisco Bay Area.Terreno Realty Corporation (NYSE:TRNO) signed purchase and sale agreement to acquire Portfolio of industrial properties located in New York, Northern New Jersey, San Francisco Bay Area for approximately $360 million on March 25, 2024. The acquisition of the Portfolio is expected to close in the second quarter of 2024. The acquisition of these buildings, including the acquisition of the Portfolio, is subject to due diligence and various closing conditions. In similar transaction Terreno Realty Corporation announced the acquisition of portfolio for $84.3 million. Goldman Sachs & Co. LLC acted as financial advisor to Terreno Realty Corporation (NYSE:TRNO).Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Portfolio of industrial properties located in New York, Northern New Jersey, San Francisco Bay Area on May 2, 2024.
お知らせ • Apr 27Terreno Realty Corporation Announces Development Completion in Hialeah, FLTerreno Realty Corporation announced that it has completed the development of Countyline Corporate Park Phase IV Building 38 in Hialeah, Florida. Building 38 is 100% leased to a North American distributor of foodservice packaging, commercial cleaning supplies, janitorial equipment and industrial packaging. Building 38 of Terreno Realty Corporation’s Countyline Corporate Park is a 506,000 square foot 36-foot clear height cross-dock industrial distribution building on 27.6 acres with 105 dock-high and four grade-level loading positions and parking for 360 cars. The building is expected to achieve LEED certification, the total expected investment is $88.5 million and the estimated stabilized cap rate is 5.0%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami’s Countyline Corporate Park (“Countyline”), immediately adjacent to Terreno Realty Corporation’s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida’s Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and parking for 1,875 cars for a total expected investment of approximately $511.5 million. Taken together, Terreno Realty Corporation’s Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.
Seeking Alpha • Apr 21Terreno Realty: Too Much Focus On Growth Vs. Growth Per ShareSummary Terreno Realty's shares have fallen due to concerns about slower rental growth and declining occupancy levels. The company focuses on owning and operating warehouse and industrial real estate in major coastal areas of the US, focusing on densely populated areas. Despite strong rental growth and high occupancy rates, the company's valuation and dilution of shares remain concerning. Read the full article on Seeking Alpha
お知らせ • Apr 17Terreno Realty Corporation (NYSE:TRNO) acquired Industrial property in Alexandria, Virginia for $84.3 million.Terreno Realty Corporation (NYSE:TRNO) acquired Industrial property in Alexandria, Virginia for $84.3 million on April 15, 2024.Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Industrial property in Alexandria, Virginia for $84.3 million on April 15, 2024.
お知らせ • Apr 12Terreno Realty Corporation Announces Development Start in Hialeah, FLTerreno Realty Corporation announced that it has commenced construction of Countyline Corporate Park Phase IV Building 31 in Hialeah, Florida. Building 31 of Terreno Realty Corporation's Countyline Corporate Park is a 162,000 square foot 36-foot clear height rear-load industrial distribution building on 10.0 acres with 53 dock-high and two grade-level loading positions and parking for 140 cars. Building 31 has been 100% pre-leased to a national tire distributor commencing with building completion, expected to be in the fourth quarter of 2024, and expiring May 2032. Building 31 is expected to achieve LEED certification, the total expected investment is $42.1 million and the estimated stabilized cap rate is 6.0%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami's Countyline Corporate Park ("Countyline"), immediately adjacent to Terreno Realty Corp.'s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida's Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and Parking for 1,875 cars for a total expected investment of approximately $511.5 million square feet. Taken together, Terreno Realty Corporation' Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
お知らせ • Mar 27Terreno Realty Corporation has completed a Follow-on Equity Offering in the amount of $341 million.Terreno Realty Corporation has completed a Follow-on Equity Offering in the amount of $341 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 5,500,000 Price\Range: $62 Discount Per Security: $0.71
お知らせ • Mar 26Terreno Realty Corporation has filed a Follow-on Equity Offering.Terreno Realty Corporation has filed a Follow-on Equity Offering. Security Name: Common Stock Security Type: Common Stock Securities Offered: 5,000,000
お知らせ • Mar 23Terreno Realty Corporation, Annual General Meeting, May 07, 2024Terreno Realty Corporation, Annual General Meeting, May 07, 2024, at 08:00 Pacific Daylight. Location: The Company's Bellevue office, 10500 NE 8th Street, Suite 1910, Bellevue Washington United States Agenda: To consider the election of seven directors, each to serve until the next annual meeting of stockholders and until his or her successor has been duly elected and qualifies; to consider a resolution to approve, on a non-binding, advisory basis, the compensation of certain executives; to consider the ratification of the appointment of Ernst & Young LLP as the company's independent registered certified public accounting firm for the 2024 fiscal year; and to consider such other business as may properly come before the annual meeting, including any adjournments or postponements of the meeting.
Upcoming Dividend • Mar 20Upcoming dividend of US$0.45 per shareEligible shareholders must have bought the stock before 27 March 2024. Payment date: 05 April 2024. Trailing yield: 2.8%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.2%).
Seeking Alpha • Mar 07Terreno Realty: Attractive Financials But Overvalued (Rating Downgrade)Summary Terreno Realty is a premier industrial REIT with a strong presence in supply-constrained markets. TRNO has shown impressive cash rental growth and same-store NOI growth, with a track record of market-beating returns over the past 10 years. While TRNO has a solid balance sheet and value-add opportunities, its current valuation may not be attractive compared to other industrial REITs. Read the full article on Seeking Alpha
New Risk • Feb 12New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (47% net profit margin). Shareholders have been diluted in the past year (7.3% increase in shares outstanding). Significant insider selling over the past 3 months (US$387k sold).
Declared Dividend • Feb 11Fourth quarter dividend of US$0.45 announcedShareholders will receive a dividend of US$0.45. Ex-date: 27th March 2024 Payment date: 5th April 2024 Dividend yield will be 2.8%, which is about the same as the industry average.
Reported Earnings • Feb 08Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: US$1.81 (down from US$2.61 in FY 2022). Revenue: US$323.6m (up 17% from FY 2022). Net income: US$150.7m (down 24% from FY 2022). Profit margin: 47% (down from 71% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Industrial REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 08Terreno Realty Corporation Declares Quarterly Dividend, Payable on April 5, 2024Terreno Realty Corporation declared a regular cash dividend for the quarter ending March 31, 2024 of $0.45 per common share. The dividend will be payable on April 5, 2024 to common stockholders of record at the close of business on March 28, 2024.
お知らせ • Jan 10Terreno Realty Corporation Announces the Promotion of John Meyer to Chief Operating OfficerTerreno Realty Corporation announced the promotion of John Meyer to Chief Operating Officer, effective January 8, 2024. Mr. Meyer will continue to report to Michael A. Coke, President and W. Blake Baird, Chairman and Chief Executive Officer. Prior to joining the company in 2010, Mr. Meyer was Executive Vice President, Director of Transactions, Southwest Region of North America for AMB Property Corporation. Mr. Meyer holds a BS degree in architecture from the University of Oklahoma.
Seeking Alpha • Dec 18Terreno Realty: Quality Is ExpensiveSummary Terreno Realty Corporation owns and operates industrial real estate properties across 6 U.S. coastal markets. The company's portfolio is well-diversified and its operating results have been consistently strong. However, the dividend yield is low and the shares are trading at a large premium to NAV. Read the full article on Seeking Alpha
New Risk • Dec 11New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.01% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.01% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (12% increase in shares outstanding).
Upcoming Dividend • Dec 07Upcoming dividend of US$0.45 per share at 3.1% yieldEligible shareholders must have bought the stock before 14 December 2023. Payment date: 05 January 2024. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.8%). In line with average of industry peers (3.1%).
