US · USD

TRNO

Terreno Realty Corporation

$63.34-1.39% (-$0.89)Updated 10/7/26, 5:00 PM

Day's range: $63.31 – $64.81
Day's volume: $33.1M
52-week range: $54.09 – $74.43

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TRNO in numbers

Market cap: $6.9B

P/E: 17.76

P/B: 1.56

Dividend yield (12m): 3.36%

The 12-month dividend yield of TRNO is 3.36%, above its 5-year average of 2.61%.

TRNO price history

10/08/202510/07/2026

Compare with

TRNO risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+4.32%	+22.12%	-3.65%
Volatility (annualized)	19.81%	24.02%	25.65%
Largest drawdown	-10.83%	-18.15%	-36.73%
Positive months	5/12	20/36	29/60

How much did investing in TRNO return?

Amount invested

$1,000.00 invested on 11/01/2021 would be worth $963.47 today.

Value today in TRNO: $963.47

Return over the period: -3.65%

Return per year: -0.75%

In the S&P 500: $1,708.29

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

TRNO fundamentals

Valuation

P/E17.76
P/B1.56
EV/EBITDA—
EV/EBIT—
EV/Revenue15.50
P/EBIT—
P/S13.73
P/OCF24.08
P/FCF—
Earnings yield—
PEG ratio—
Earnings per share$3.57
Book value per share$40.67

Debt

Net debt$891.3M
Net debt/EBITDA—
Net debt/Equity0.20
Debt/Equity0.21
Current ratio—
Quick ratio—
Cash ratio—

Efficiency

Gross margin—
EBITDA margin—
Operating margin—
Net margin77.27%
Asset turnover0.09

Profitability

ROE8.77%
ROA6.80%
ROIC—
Payout59.73%

Growth

Revenue CAGR (5 years)20.25%
Earnings CAGR (5 years)40.94%
Revenue growth (year)—
Earnings growth (year)—
Revenue growth (quarter)—
Earnings growth (quarter)—

What is TRNO's fair price?

Two classic value formulas, with today's numbers. The current price is $63.34.

Graham's fair price: $57.13; 9.81% below the price

√(22.50 × $3.57 × $40.67)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: $27.03; 57.32% below the price

$1.62 (5-year average) ÷ 6%

Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

TRNO's indicators by year

Multiples at each year's closing price; margins and returns from that year's statements.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	15.18	31.98	36.41	22.11	73.80	50.34	65.72	33.96
P/B	1.48	1.61	1.89	1.96	3.13	2.53	2.40	1.72
Dividend yield	3.39%	3.11%	2.63%	2.50%	1.42%	1.88%	1.83%	2.56%
Earnings per share	$3.87	$1.85	$1.72	$2.57	$1.16	$1.16	$0.82	$1.04
Book value per share	$39.80	$36.70	$33.12	$28.97	$27.26	$23.14	$22.51	$20.42
ROE	9.72%	5.04%	5.20%	8.88%	4.24%	5.02%	3.66%	5.07%
Net margin	84.59%	48.22%	46.81%	71.69%	39.32%	42.70%	32.46%	41.73%

TRNO's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$476.4M	$382.6M	$323.6M	$276.2M	$221.9M	$186.9M
Cost of revenue	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—
EBITDA	—	—	—	—	—	—
EBIT	—	—	—	—	—	—
Financial result	$210.9M	$36.5M	$18.3M	$89.1M	-$605K	$11.6M
Income before tax	—	—	—	—	—	—
Income tax	—	—	—	—	—	—
Net income	$403M	$184.5M	$151.5M	$198M	$87.3M	$79.8M

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does TRNO pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Dividend	09/29/2026	10/09/2026	$0.57

Dividend yield per year

2.34%2017
2.56%2018
1.83%2019
1.88%2020
1.42%2021
2.50%2022
2.63%2023
3.11%2024
3.39%2025
2.46%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	06/25/2026	07/10/2026	$0.52
Dividend	03/26/2026	04/10/2026	$0.52
Dividend	12/12/2025	01/09/2026	$0.52
Dividend	09/26/2025	10/10/2025	$0.52
Dividend	06/26/2025	07/11/2025	$0.49
Dividend	03/26/2025	04/04/2025	$0.49
Dividend	12/12/2024	01/07/2025	$0.49
Dividend	09/27/2024	10/11/2024	$0.49
Dividend	06/27/2024	07/12/2024	$0.45
Dividend	03/26/2024	04/05/2024	$0.45
Dividend	12/13/2023	01/05/2024	$0.45
Dividend	09/27/2023	10/13/2023	$0.45

See all 39 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	06/28/2023	07/14/2023	$0.40
Dividend	03/29/2023	04/06/2023	$0.40
Dividend	12/28/2022	01/13/2023	$0.40
Dividend	09/28/2022	10/14/2022	$0.40
Dividend	06/28/2022	07/14/2022	$0.34
Dividend	03/23/2022	04/08/2022	$0.34
Dividend	12/13/2021	01/05/2022	$0.34
Dividend	09/29/2021	10/15/2021	$0.34
Dividend	06/28/2021	07/14/2021	$0.29
Dividend	03/24/2021	04/09/2021	$0.29
Dividend	12/11/2020	01/05/2021	$0.29
Dividend	09/30/2020	10/16/2020	$0.29
Dividend	06/26/2020	07/14/2020	$0.27
Dividend	03/25/2020	04/10/2020	$0.27
Dividend	12/27/2019	01/14/2020	$0.27
Dividend	10/02/2019	10/18/2019	$0.27
Dividend	07/02/2019	07/19/2019	$0.24
Dividend	03/27/2019	04/12/2019	$0.24
Dividend	12/14/2018	01/11/2019	$0.24
Dividend	10/03/2018	10/19/2018	$0.24
Dividend	07/04/2018	07/20/2018	$0.22
Dividend	03/26/2018	04/12/2018	$0.22
Dividend	12/27/2017	01/12/2018	$0.22
Dividend	10/04/2017	10/20/2017	$0.22
Dividend	07/04/2017	07/21/2017	$0.20
Dividend	03/23/2017	04/12/2017	$0.20
Dividend	12/27/2016	01/13/2017	$0.20

About Terreno Realty

Sector: Finance, insurance and real estate

Questions about TRNO

How much is TRNO today?

TRNO is at $63.34 (-1.39% on the day), last traded on 10/07/2026.

How much did TRNO pay in dividends in 2025?

TRNO paid $1.99 per share in 2025, a dividend yield of 3.39%.

When is the next TRNO dividend?

The next announced payment is $0.57 per share on 10/09/2026.

What are the P/E and P/B of TRNO?

TRNO trades at a P/E of 17.76 and a P/B of 1.56.

How much did TRNO return in 12 months?

TRNO returned 4.32% in 12 months, with annualized volatility of 19.81% and a largest drawdown of -10.83%.