Terreno Realty Corporation
$64.10
+0.023%{Terreno Realty Corporation and together with its subsidiaries, the Company) 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. All square feet, acres, occupancy and number of properties disclosed in these condensed notes to the consolidated financial statements are unaudited. As of September 30, 2020, the Company owned 219 buildings aggregating approximately 13.1 million square feet, 22 improved land parcels consisting of approximately 85.0 acres and one property under redevelopment expected to contain approximately 0.2 million square feet upon completion. The Company is an internally managed Maryland corporation and elected to be taxed as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the Code), commencing with its taxable year ended December 31, 2010.}
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is mid-range (P/E 16.3).
Valuation inputs: P/E 16.3, earnings yield +6.1%, momentum +0.0%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +9.7%, ROIC +3.7%).
Profitability stack: net margin +84.6%, ROE +9.7%, ROIC +3.7%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile looks controlled across current risk inputs.
Risk factors: liabilities/assets +23.0%, momentum +0.0%, net margin +84.6%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Terreno Realty Corporation Market vs Earnings Trajectory
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Terreno Realty Corporation Fair Value Envelope
Terreno Realty Corporation Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Outstanding operational efficiency. The company generates substantial profit from core operations.
Net Profit Margin
Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.
Effective Tax Rate
Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
Terreno Realty Corporation Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Weak cash conversion. Significant portion of earnings not converting to cashโreview working capital trends and capital intensity.
CapEx Intensity
Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.
FCF Growth Trend
Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Terreno Realty Corporation Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.
Debt-to-Equity Ratio
Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.
Working Capital
Negative working capital indicates short-term liabilities exceed short-term assetsโpotential liquidity stress.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Financial Health Insight
Conservative with tight liquidity: Low debt is positive, but current ratio warrants attention. Consider whether the company is efficiently deploying its equity capital.
Terreno Realty Corporation Street Expectations Map
Wall Street analysts project that TRNO stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 70.67, with estimates ranging from a low of 60.00 to a high of 79.00.
The consensus 1-year price target stands at 70.67, with estimates ranging from a low of 60.00 to a high of 79.00.
Analyst Consensus Analysis
Upside Potential
Moderate upside. Analysts expect positive returns but with limited margin of safety. Consider entry timing.
Analyst Agreement
Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.
Risk-Reward Profile
Favorable risk-reward. Potential upside significantly exceeds downside risk, offering asymmetric return profile attractive for risk-tolerant investors.
Analyst Conviction
Positive outlook with reasonable agreement. Analysts generally optimistic about prospects with manageable uncertainty.
Market Sentiment Insight
Asymmetric upside: Strong return potential with favorable risk-reward profile. The limited downside relative to upside makes this an attractive risk-adjusted opportunity for growth-oriented portfolios.
Terreno Realty Corporation Insider Positioning
During the last 12 months, insiders have sold $1.29M worth of TRNO shares, with no buying activity reported.
3 Months
0
0.00
0
0.00
+0
+$0
3-6 Months
0
0.00
7.0K
461.93K
-462K
-$462K
6-9 Months
0
0.00
4.8K
285.24K
-285K
-$285K
9-12 Months
0
0.00
10.0K
539.60K
-540K
-$540K
Top Buyers
No buying activity
Top Sellers
Coke Michael A
Director, Officer: President
$540K
Cannon Jaime Jackson
Officer: Cfo
$462K
Meyer John Tull
Officer: Evp
$285K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $1.29M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Insider Participation
3 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
trno Dividend History
Learning Layer
Related Guides
Build conviction on TRNO by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.