Terreno Realty was sold as shares became overpriced, trading above 30x forward AFFO amid rising Treasury yields. TRNO's strong industrial portfolio and robust same-property NOI growth justified premium multiples, but current valuation exceeds prudent expectations. Despite minimal debt exposure and superior management, TRNO's revised EBITDA yield of 3.96% highlights stretched valuation versus peers like REXR.
Terreno Realty's leasing wins in Florida, California and New Jersey boost occupancy, extend cash flow visibility and highlight demand in core logistics markets.
TRNO boosts income visibility with early lease renewals and new industrial deals as rent growth and tenant retention stay strong.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| CE Curtis Ellergodt Rothschild Investment LLC | 147 | $9,363.38 | $10,547.25 | $1,183.87 | 12.64% |
| ABB Alexander Bjornager Bonde Danske Bank A/S | 100 | $5,871 | $7,175 | $1,304 | 22.21% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 4 | $234.84 | $287.32 | $52.48 | 22.35% |
Chris Davis Davis Selected Advisers | 113,507 | $7.38M | $8.16M | $776,773.05 | 10.52% |
| SN Stephanie Nee HARBOR CAPITAL ADVISORS Inc. | 13,053 | $803,578.74 | $938,119.11 | $134,540.37 | 16.74% |
| Industrial REITs Industry | Real Estate Sector | W. Blake Baird CEO | NYSE Exchange | 88146M101 CUSIP |
| US Country | 47 Employees | 26 Jun 2026 Last Dividend | - Last Split | 10 Feb 2010 IPO Date |
Terreno Realty Corporation, along with its subsidiaries, operates as a specialized entity focusing on the acquisition, ownership, and operation of industrial real estate properties. The company has a strategic presence in six major coastal markets within the United States, namely Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. Terreno Realty Corporation positions itself as a key player within the industrial real estate sector in these highly sought-after locations, providing premium space solutions to meet the demands of various tenants. As of September 30, 2020, the company's portfolio encapsulates a substantial footprint, including 219 buildings with a total area of approximately 13.1 million square feet, in addition to 22 improved land parcels encompassing around 85.0 acres, and a property under redevelopment. Terreno adopts an internal management structure and has been operating as a real estate investment trust (REIT) since the end of its 2010 fiscal year, adhering to the specific tax provisions set out in Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, to optimize its financial and operational strategy.
Terreno Realty Corporation aggressively targets industrial properties for acquisition in key coastal markets. By focusing on areas with high demand and limited supply, Terreno ensures a strategic portfolio growth that caters to diverse customer needs, including warehousing, distribution, and light manufacturing among others.
Following acquisition, Terreno actively owns and manages a wide array of industrial real estate properties. Their management philosophy emphasizes tenant satisfaction and property maintenance, ensuring each site's utility and value are maximized. This includes regular updates and modifications to meet or exceed industry standards and tenant expectations.
As a company elected to be taxed as a real estate investment trust (REIT), Terreno Realty Corporation offers investors the opportunity to partake in its industrial real estate ventures through various REIT operations. This setup allows for broader investment opportunities, promising returns through dividends derived from the company’s real estate income, in adherence to the stringent qualifications set by the Internal Revenue Code for REITs.
Terreno also engages in the redevelopment of select properties within its ownership portfolio. These projects are aimed at transforming outdated or underutilized real estate into valuable, high-demand industrial spaces. Upon completion, these redeveloped properties significantly contribute to the company's asset value and operational income, creating additional square footage for lease in prime locations.