View ValuationTerreno Realty 향후 성장Future 기준 점검 0/6Terreno Realty 의 수익은 연간 18% 감소할 것으로 예상되는 반면, 연간 수익은 10.2% 로 증가할 것으로 예상됩니다. EPS는 연간 28% 만큼 쇠퇴할 것으로 예상됩니다. 자기자본이익률은 3년 후 4.3% 로 예상됩니다.핵심 정보-18.0%이익 성장률-27.98%EPS 성장률Industrial REITs 이익 성장1.8%매출 성장률10.2%향후 자기자본이익률4.32%애널리스트 커버리지Good마지막 업데이트13 Jul 2026최근 향후 성장 업데이트Major 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.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.모든 업데이트 보기Recent updates실시간 뉴스 • 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%).분석 기사 • 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...실시간 뉴스 • 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.실시간 뉴스 • 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.Seeking Alpha • May 16Terreno Realty Corporation: This Coastal Industrial REIT Is A BuySummary Terreno Realty Corporation (TRNO) is rated a Buy with a $70 price target, supported by strong Q1 2026 earnings and a robust development pipeline. TRNO’s infill, supply-constrained coastal market focus underpins high occupancy (96.3%) and resilient same-store NOI growth, reinforcing its structural competitive advantage. The REIT maintains a conservative balance sheet (net debt/EBITDA 2.5x) and consistent dividend growth (11.6% CAGR since 2011), with a well-covered 3.17% forward yield. Despite a premium valuation versus peers, TRNO’s historical discount, strong capital recycling, and liquidity position justify its current multiple and forward outlook. Read the full article on Seeking AlphaDeclared 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%.공고 • 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.공고 • 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.공고 • 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.공고 • 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%).공고 • 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.공고 • 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.공고 • 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.공고 • 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%).공고 • 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.공고 • 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.공고 • 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.공고 • 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.공고 • 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%).공고 • 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.공고 • 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.공고 • 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.공고 • 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.공고 • 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 Alpha공고 • 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 Alpha공고 • 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.공고 • 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.공고 • 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 Alpha공고 • 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.공고 • 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 Alpha공고 • 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.공고 • 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.공고 • 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.공고 • 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 Alpha공고 • 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.공고 • 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.공고 • 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: $0.71공고 • 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: 5,000,000공고 • 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.공고 • 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.공고 • 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%).New Risk • Nov 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.7% 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 2.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (311% payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (10% increase in shares outstanding). Significant insider selling over the past 3 months (US$596k sold).공고 • Nov 02Terreno Realty Corporation Declares Cash Dividend for the Quarter Ending December 31, 2023, Payable on January 5, 2024Terreno Realty Corporation declared a regular cash dividend for the quarter ending December 31, 2023 of $0.45 per common share. The dividend will be payable on January 5, 2024 to common stockholders of record at the close of business on December 15, 2023.공고 • Oct 13Terreno Realty Corporation (NYSE:TRNO) acquired Industrial Property Located in Red Hook, Brooklyn, New York for $27.5 million.Terreno Realty Corporation (NYSE:TRNO) acquired Industrial Property Located in Red Hook, Brooklyn, New York for $27.5 million on October 11, 2023. Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Industrial Property Located in Red Hook, Brooklyn, New York on October 11, 2023.Seeking Alpha • Oct 03Terreno Realty: Buy The Dip On This Top Industrial PlayerSummary Terreno Realty is a self-managed industrial REIT that focuses on high-demand Tier 1 markets in the US. TRNO has a strong track record of generating impressive returns and has outperformed the market over the past 10 years. The company has a fortress balance sheet, strong fundamentals, and the recent dip in price gives investors a decent starting dividend yield. Read the full article on Seeking AlphaUpcoming Dividend • Sep 21Upcoming dividend of US$0.45 per share at 3.1% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 13 October 2023. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (5.0%). In line with average of industry peers (3.0%).공고 • Sep 08Terreno Realty Corporation (NYSE:TRNO) acquired Property in Santa Ana, CA for approximately $14.8 million.Terreno Realty Corporation (NYSE:TRNO) acquired Property in Santa Ana, CA for approximately $14.8 million on September 6, 2023. Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Property in Santa Ana, CA on September 6, 2023.Recent Insider Transactions • Aug 09Co-Founder recently sold US$596k worth of stockOn the 4th of August, Michael Coke sold around 10k shares on-market at roughly US$59.60 per share. This transaction amounted to 1.8% 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.이익 및 매출 성장 예측NYSE:TRNO - 애널리스트 향후 추정치 및 과거 재무 데이터 (USD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/2028666241N/A369512/31/2027575205N/A3331312/31/2026517209N/A279133/31/2026490422272272N/A12/31/2025476401272272N/A9/30/2025443319253253N/A6/30/2025426253243243N/A3/31/2025408196247247N/A12/31/2024383184233233N/A9/30/2024365165220220N/A6/30/2024349159204204N/A3/31/2024334163188188N/A12/31/2023324151180180N/A9/30/2023313152175175N/A6/30/2023301144167167N/A3/31/2023287201154154N/A12/31/2022276197143143N/A9/30/2022261171143143N/A6/30/2022247170136136N/A3/31/202223590134134N/A12/31/202122287132132N/A9/30/202121068122122N/A6/30/202120070115115N/A3/31/202119283105105N/A12/31/202018779101101N/A9/30/202018381104104N/A6/30/2020179739696N/A3/31/2020175539797N/A12/31/201917155N/A95N/A9/30/201916563N/A89N/A6/30/201916059N/A86N/A3/31/201915568N/A83N/A12/31/201815263N/A78N/A9/30/201814751N/A73N/A6/30/201814360N/A72N/A3/31/201813854N/A68N/A12/31/201713249N/A69N/A9/30/201712839N/A66N/A6/30/201712122N/A62N/A3/31/201711410N/A57N/A12/31/201610811N/A49N/A9/30/201610310N/A47N/A6/30/201610011N/A45N/A3/31/20169819N/A45N/A12/31/20159611N/A42N/A9/30/20159013N/A38N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: TRNO 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -18%).수익 vs 시장: TRNO 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -18%).고성장 수익: TRNO 의 수익은 향후 3년간 감소할 것으로 예상됩니다.수익 대 시장: TRNO 의 수익(연간 10.2%)이 US 시장(연간 13%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: TRNO 의 수익(연간 10.2%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: TRNO의 자본 수익률은 3년 후 4.3%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YReal-estate 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/14 21:57종가2026/07/14 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Terreno Realty Corporation는 28명의 분석가가 다루고 있습니다. 이 중 13명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관David RodgersBairdBrendan LynchBarclaysConnor SiverskyBerenberg25명의 분석가 더 보기
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.
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.
실시간 뉴스 • 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%).
분석 기사 • 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...
실시간 뉴스 • 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.
실시간 뉴스 • 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.
Seeking Alpha • May 16Terreno Realty Corporation: This Coastal Industrial REIT Is A BuySummary Terreno Realty Corporation (TRNO) is rated a Buy with a $70 price target, supported by strong Q1 2026 earnings and a robust development pipeline. TRNO’s infill, supply-constrained coastal market focus underpins high occupancy (96.3%) and resilient same-store NOI growth, reinforcing its structural competitive advantage. The REIT maintains a conservative balance sheet (net debt/EBITDA 2.5x) and consistent dividend growth (11.6% CAGR since 2011), with a well-covered 3.17% forward yield. Despite a premium valuation versus peers, TRNO’s historical discount, strong capital recycling, and liquidity position justify its current multiple and forward outlook. Read the full article on Seeking Alpha
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%.
공고 • 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.
공고 • 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.
공고 • 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.
공고 • 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%).
공고 • 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.
공고 • 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.
공고 • 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.
공고 • 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%).
공고 • 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.
공고 • 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.
공고 • 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.
공고 • 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.
공고 • 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%).
공고 • 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.
공고 • 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.
공고 • 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.
공고 • 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.
공고 • 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
공고 • 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
공고 • 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.
공고 • 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.
공고 • 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
공고 • 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.
공고 • 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
공고 • 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.
공고 • 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.
공고 • 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.
공고 • 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
공고 • 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.
공고 • 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.
공고 • 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
공고 • 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
공고 • 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.
공고 • 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.
공고 • 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%).
New Risk • Nov 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.7% 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 2.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (311% payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (10% increase in shares outstanding). Significant insider selling over the past 3 months (US$596k sold).
공고 • Nov 02Terreno Realty Corporation Declares Cash Dividend for the Quarter Ending December 31, 2023, Payable on January 5, 2024Terreno Realty Corporation declared a regular cash dividend for the quarter ending December 31, 2023 of $0.45 per common share. The dividend will be payable on January 5, 2024 to common stockholders of record at the close of business on December 15, 2023.
공고 • Oct 13Terreno Realty Corporation (NYSE:TRNO) acquired Industrial Property Located in Red Hook, Brooklyn, New York for $27.5 million.Terreno Realty Corporation (NYSE:TRNO) acquired Industrial Property Located in Red Hook, Brooklyn, New York for $27.5 million on October 11, 2023. Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Industrial Property Located in Red Hook, Brooklyn, New York on October 11, 2023.
Seeking Alpha • Oct 03Terreno Realty: Buy The Dip On This Top Industrial PlayerSummary Terreno Realty is a self-managed industrial REIT that focuses on high-demand Tier 1 markets in the US. TRNO has a strong track record of generating impressive returns and has outperformed the market over the past 10 years. The company has a fortress balance sheet, strong fundamentals, and the recent dip in price gives investors a decent starting dividend yield. Read the full article on Seeking Alpha
Upcoming Dividend • Sep 21Upcoming dividend of US$0.45 per share at 3.1% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 13 October 2023. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (5.0%). In line with average of industry peers (3.0%).
공고 • Sep 08Terreno Realty Corporation (NYSE:TRNO) acquired Property in Santa Ana, CA for approximately $14.8 million.Terreno Realty Corporation (NYSE:TRNO) acquired Property in Santa Ana, CA for approximately $14.8 million on September 6, 2023. Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Property in Santa Ana, CA on September 6, 2023.
Recent Insider Transactions • Aug 09Co-Founder recently sold US$596k worth of stockOn the 4th of August, Michael Coke sold around 10k shares on-market at roughly US$59.60 per share. This transaction amounted to 1.8% 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.