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NYSE · Real Estate

Terreno Realty Corp (TRNO)

As-reported financials and SEC filings for Terreno Realty Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Terreno Realty Corp

Terreno Realty Corp acquires, owns, and operates industrial real estate in six major coastal U.S. markets, including New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. The company focuses on warehouse/distribution facilities, flex spaces, transshipment facilities, and improved land, serving a diverse tenant base across these markets. Terreno targets properties in infill locations with strong transportation access and manages its portfolio to optimize occupancy and returns.

Snapshot

Revenue
$476.4M
Revenue growth (YoY)
24.5%
Net income
$403.0M
Diluted EPS
$3.91
Gross margin
Operating margin
Net margin
84.6%
FCF margin
ROE
9.7%
net income / fiscal-year-end equity
P/E
17.9×
trailing when available, otherwise FY EPS
Market cap
$7.21B
Long-term debt / equity
0.23×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Terreno Realty

  • Revenue grew 24.5% to $476M in FY2025, faster than the 18.2% the year before.
  • Most recent quarter Q2 FY2026: revenue $125M, up 11.1% from Q2 FY2025.
  • Net income rose 118.4% to $403M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Terreno Realty’s fundamentals sit among the 226 Real Estate companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Net margin84.6%
99th percentile of 211
Revenue growth (YoY)+24.5%
90th percentile of 221
ROE9.7%
82nd percentile of 195
P/E17.9×
23rd percentile of 137
Long-term debt / equity0.23×
9th percentile of 128
Short interest9.67d
89th percentile of 211

Terreno Realty’s net margin of 84.6% ranks in the 99th percentile of the 211 Real Estate companies reporting it. Terreno Realty’s long-term debt to equity of 0.23 ranks in the 9th percentile of the 128 Real Estate companies reporting it. Terreno Realty’s revenue growth of +24.5% ranks in the 90th percentile of the 221 Real Estate companies reporting it.

No reported insider purchases (code P) in the last 90 days; 3 insider sales totaling $1.1M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+3 quant / multi-strat
Initiated / added
3
1 new, 2 added
Reduced / exited
3
0 trimmed, 3 exited
Combined position
$89.1M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ2 2026$80.9M1.2MAdded
AQR Capital ManagementquantQ2 2026$5.7M88.0KAdded
D. E. ShawquantQ2 2026$2.5M38.5KNew

No longer held by: Citadel Advisors (as of Q2 2026), Gotham Asset Management (as of Q2 2026), Millennium Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
3
$1.1M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-11
Meyer John TullEVPSell4.4K$68.64$305K
2026-08-10
Cannon Jaime JacksonCFOSell3.6K$68.26$246K
2026-08-07
filed 2026-08-10
COKE MICHAEL APresidentSell8.0K$68.38$547K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
6.5M
settled 2026-08-14
Change vs prior
+3.5%
vs previous settlement
Days to cover
9.67
at avg daily volume
Avg daily volume
669.5K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-146.5M+3.5%9.67
2026-07-316.3M-5.7%8.32
2026-07-156.6M+24.5%5.97
2026-06-305.3M+10.3%3.98
2026-06-154.8M-9.9%6.30
2026-05-295.4M-11.5%6.05
2026-05-156.1M-5.7%10.49
2026-04-306.4M+8.7%11.36

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$476.4M$382.6M$323.6M$276.2M$221.9M
Gross profit
Operating income
Net income$403.0M$184.5M$151.5M$198.0M$87.3M
Diluted EPS$3.91$1.92$1.81$2.61$1.23

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$25.0M$18.1M$165.4M$26.4M$204.4M
Current assets
Total assets$5.39B$4.77B$3.90B$3.16B$2.92B
Current liabilities
Long-term debt$943.3M$823.4M$771.6M$770.8M$720.7M
Total liabilities$1.24B$1.11B$990.0M$934.6M$866.3M
Total equity$4.15B$3.66B$2.91B$2.23B$2.06B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$271.9M$232.7M$179.7M$143.2M$132.2M
Capital expenditure
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$124.7M11.1%$57.6M$0.54
Q1 FY2026$124.4M12.7%$69.4M$0.66
Q4 FY2025$137.5M32.6%$158.2M$1.53
Q3 FY2025$116.2M16.7%$103.4M$1.00
Q2 FY2025$112.2M19.1%$93.3M$0.90
Q1 FY2025$110.4M29.9%$48.1M$0.47
Q4 FY2024$103.7M19.9%$76.1M$0.76
Q3 FY2024$99.6M20.2%$36.6M$0.37

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorReal Estate
SIC industryReal Estate
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2009
SEC CIK1476150

Selected SEC filings

10-K2026-02-04
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
10-Q2025-11-05
View on EDGAR →
10-Q2025-08-06
View on EDGAR →
8-K2026-05-06
View on EDGAR →
8-K2026-02-17
View on EDGAR →
8-K2026-01-08
View on EDGAR →

Largest Real Estate peers

All Real Estate companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.