Terreno Realty Q1 Performance Review
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 08 2026
0mins
Should l Buy TRNO?
Source: seekingalpha
- Occupancy Increase: Terreno Realty's overall occupancy rate rose to 96.3% in Q1 from 96.1% in the previous quarter, although it fell from 96.6% a year ago, indicating slight market fluctuations.
- Stable Same-Store Performance: The same-store occupancy rate remained steady at 97.6%, matching Q4 2025 levels and improving from 96.4% a year earlier, reflecting the company's success in maintaining tenant satisfaction.
- Significant Rent Growth: The company anticipates a 22.4% increase in cash rents for new and renewed leases in Q1 2026, with a tenant retention ratio of 72.6%, which will contribute to future revenue stability.
- Active Capital Management: Terreno Realty acquired two industrial properties for approximately $101.8 million and sold two properties for about $55.1 million during the quarter, demonstrating flexibility in asset management and capital allocation.
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Analyst Views on TRNO
Wall Street analysts forecast TRNO stock price to rise
13 Analyst Rating
9 Buy
3 Hold
1 Sell
Moderate Buy
Current: 66.940
Low
56.00
Averages
69.62
High
80.00
Current: 66.940
Low
56.00
Averages
69.62
High
80.00
About TRNO
Terreno Realty Corporation acquires, owns and operates industrial real estate in six coastal United States markets: New York City/Northern New Jersey; Los Angeles; Miami; San Francisco Bay Area; Seattle, and Washington, D.C. The Company invests in several types of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development), transshipment, and improved land. It targets functional properties in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets in which it operates. Infill locations are geographic locations surrounded by high concentrations of already developed land and existing buildings. Its portfolio includes Terreno 3500 West MacArthur Boulevard, Terreno 11100 Hindry Avenue, Terreno 2411 Santa Fe Ave, Terreno 1720 E Garry Ave, Terreno 16009-16019 E Foothill, Terreno 16025-16037 E Foothill, Terreno 3528 Arden, Terreno 20269 - 20281 Mack, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Terreno Realty Corporation Signs New Lease for Transshipment Facility
- Lease Agreement: Terreno Realty Corporation has signed a lease for a 10.2-acre transshipment facility in Hayward, California, with a fully autonomous all-electric ride-hailing provider, effective from March 13, 2026, to March 2031, which is expected to enhance the company's competitiveness in the industrial real estate market.
- Market Coverage: The company operates in six major coastal U.S. markets, including New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C., further solidifying its market position in industrial real estate.
- Future Outlook: The press release indicates that the lease signing will provide opportunities for future business growth, although there are market risks and uncertainties, management remains optimistic about future performance.
- Investor Caution: Terreno Realty warns investors that forward-looking statements are based on management's beliefs and assumptions, and actual results may vary due to various risk factors, urging investors to exercise caution regarding these statements.
See More
Terreno Realty Executes Early Lease Renewal for 68,000 Square Feet
- Early Lease Renewal: Terreno Realty Corporation has executed an early lease renewal for 68,000 square feet in Washington, D.C. with an educational services provider, with the lease commencing on December 1, 2026, and expiring in December 2031, ensuring long-term leasing stability in the region.
- Market Coverage: The company operates in six major coastal U.S. markets, including New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C., demonstrating a strong presence in key markets.
- Strategic Implications: This lease renewal not only solidifies Terreno Realty's tenant base in the education sector but also potentially lays the groundwork for future rent increases and asset appreciation, enhancing the attractiveness of its portfolio.
- Forward-Looking Statements: The company cautions that all forward-looking statements are based on management's beliefs and assumptions, and investors should be cautious as actual results may vary due to various risks and uncertainties.
See More
Terreno Realty Completes Hialeah Project with 100% Leasing
- Project Completion and Leasing: Terreno Realty Corporation announced the completion and 100% leasing of Countyline Corporate Park Phase IV Building 34 in Hialeah, Florida, attracting three tenants, which indicates strong demand for industrial real estate in the area.
- Building Specifications and Investment: The building spans 220,000 square feet, featuring 76 dock-high loading positions and parking for 188 cars, with a total investment of $55.3 million, and is expected to achieve LEED certification, reflecting the company's commitment to sustainability.
- Future Development Plans: The Countyline Corporate Park Phase IV project covers 121 acres and is expected to include ten LEED-certified industrial buildings totaling approximately 2.2 million square feet by 2027, with an estimated investment of $508.5 million, further solidifying the company's market position.
- Market Outlook and Yield: Terreno Realty's Countyline Corporate Park Phases III and IV will collectively feature 17 industrial buildings with a total area of 3.5 million square feet, with an estimated stabilized cap rate of 5.7%, providing investors with a favorable return outlook.
See More
Terreno Realty Executes Lease Renewal with U.S. Supreme Court
- Lease Renewal: Terreno Realty Corporation has executed an early lease renewal for 27,000 square feet with the U.S. Supreme Court, extending the lease expiration from 2032 to March 2036, thereby securing a stable income source in Washington, D.C.
- Additional Leasing Space: The Supreme Court has also leased an adjacent 29,000 square feet of vacant space, with the lease commencing on April 1, 2026, and expiring in March 2036, further enhancing Terreno's asset portfolio.
- Market Coverage: Terreno Realty operates in six major coastal U.S. markets, including New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C., demonstrating its strong positioning in the U.S. industrial real estate sector.
- Forward-Looking Statements: The company cautions that all forward-looking statements are based on management's beliefs and assumptions, urging investors to exercise caution as actual results may vary due to various risks and uncertainties.
See More
Terreno Realty Q1 Performance Review
- Occupancy Increase: Terreno Realty's overall occupancy rate rose to 96.3% in Q1 from 96.1% in the previous quarter, although it fell from 96.6% a year ago, indicating slight market fluctuations.
- Stable Same-Store Performance: The same-store occupancy rate remained steady at 97.6%, matching Q4 2025 levels and improving from 96.4% a year earlier, reflecting the company's success in maintaining tenant satisfaction.
- Significant Rent Growth: The company anticipates a 22.4% increase in cash rents for new and renewed leases in Q1 2026, with a tenant retention ratio of 72.6%, which will contribute to future revenue stability.
- Active Capital Management: Terreno Realty acquired two industrial properties for approximately $101.8 million and sold two properties for about $55.1 million during the quarter, demonstrating flexibility in asset management and capital allocation.
See More
Terreno Realty Sells California Industrial Property for $31.1M
- Property Sale: Terreno Realty sold an industrial property in Torrance, California, on April 7, 2026, for approximately $31.1 million, comprising a 99,000-square-foot industrial distribution building on 4.7 acres, which is fully leased, indicating strong demand in the leasing market.
- Investment Return: The property was acquired on January 31, 2018, for $17.5 million, generating an unleveraged internal rate of return of 10.3%, showcasing the company's success in asset management and investment decisions, thereby enhancing its financial stability.
- Stock Price Reaction: Following the announcement, Terreno Realty's stock rose by 1.83% to $63.98, reflecting the market's positive perception of the company's asset disposal capabilities, which may attract more investor interest.
- Market Outlook: This transaction not only provides significant cash flow for the company but also paves the way for future investment opportunities, indicating Terreno Realty's strategic intent to optimize its asset portfolio and enhance investment returns.
See More
Terreno Realty Corporation Signs New Lease for Transshipment Facility
- Lease Agreement: Terreno Realty Corporation has signed a lease for a 10.2-acre transshipment facility in Hayward, California, with a fully autonomous all-electric ride-hailing provider, effective from March 13, 2026, to March 2031, which is expected to enhance the company's competitiveness in the industrial real estate market.
- Market Coverage: The company operates in six major coastal U.S. markets, including New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C., further solidifying its market position in industrial real estate.
- Future Outlook: The press release indicates that the lease signing will provide opportunities for future business growth, although there are market risks and uncertainties, management remains optimistic about future performance.
- Investor Caution: Terreno Realty warns investors that forward-looking statements are based on management's beliefs and assumptions, and actual results may vary due to various risk factors, urging investors to exercise caution regarding these statements.
See More
Terreno Realty Executes Early Lease Renewal for 68,000 Square Feet
- Early Lease Renewal: Terreno Realty Corporation has executed an early lease renewal for 68,000 square feet in Washington, D.C. with an educational services provider, with the lease commencing on December 1, 2026, and expiring in December 2031, ensuring long-term leasing stability in the region.
- Market Coverage: The company operates in six major coastal U.S. markets, including New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C., demonstrating a strong presence in key markets.
- Strategic Implications: This lease renewal not only solidifies Terreno Realty's tenant base in the education sector but also potentially lays the groundwork for future rent increases and asset appreciation, enhancing the attractiveness of its portfolio.
- Forward-Looking Statements: The company cautions that all forward-looking statements are based on management's beliefs and assumptions, and investors should be cautious as actual results may vary due to various risks and uncertainties.
See More
Terreno Realty Completes Hialeah Project with 100% Leasing
- Project Completion and Leasing: Terreno Realty Corporation announced the completion and 100% leasing of Countyline Corporate Park Phase IV Building 34 in Hialeah, Florida, attracting three tenants, which indicates strong demand for industrial real estate in the area.
- Building Specifications and Investment: The building spans 220,000 square feet, featuring 76 dock-high loading positions and parking for 188 cars, with a total investment of $55.3 million, and is expected to achieve LEED certification, reflecting the company's commitment to sustainability.
- Future Development Plans: The Countyline Corporate Park Phase IV project covers 121 acres and is expected to include ten LEED-certified industrial buildings totaling approximately 2.2 million square feet by 2027, with an estimated investment of $508.5 million, further solidifying the company's market position.
- Market Outlook and Yield: Terreno Realty's Countyline Corporate Park Phases III and IV will collectively feature 17 industrial buildings with a total area of 3.5 million square feet, with an estimated stabilized cap rate of 5.7%, providing investors with a favorable return outlook.
See More
Terreno Realty Executes Lease Renewal with U.S. Supreme Court
- Lease Renewal: Terreno Realty Corporation has executed an early lease renewal for 27,000 square feet with the U.S. Supreme Court, extending the lease expiration from 2032 to March 2036, thereby securing a stable income source in Washington, D.C.
- Additional Leasing Space: The Supreme Court has also leased an adjacent 29,000 square feet of vacant space, with the lease commencing on April 1, 2026, and expiring in March 2036, further enhancing Terreno's asset portfolio.
- Market Coverage: Terreno Realty operates in six major coastal U.S. markets, including New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C., demonstrating its strong positioning in the U.S. industrial real estate sector.
- Forward-Looking Statements: The company cautions that all forward-looking statements are based on management's beliefs and assumptions, urging investors to exercise caution as actual results may vary due to various risks and uncertainties.
See More
Terreno Realty Q1 Performance Review
- Occupancy Increase: Terreno Realty's overall occupancy rate rose to 96.3% in Q1 from 96.1% in the previous quarter, although it fell from 96.6% a year ago, indicating slight market fluctuations.
- Stable Same-Store Performance: The same-store occupancy rate remained steady at 97.6%, matching Q4 2025 levels and improving from 96.4% a year earlier, reflecting the company's success in maintaining tenant satisfaction.
- Significant Rent Growth: The company anticipates a 22.4% increase in cash rents for new and renewed leases in Q1 2026, with a tenant retention ratio of 72.6%, which will contribute to future revenue stability.
- Active Capital Management: Terreno Realty acquired two industrial properties for approximately $101.8 million and sold two properties for about $55.1 million during the quarter, demonstrating flexibility in asset management and capital allocation.
See More
Terreno Realty Sells California Industrial Property for $31.1M
- Property Sale: Terreno Realty sold an industrial property in Torrance, California, on April 7, 2026, for approximately $31.1 million, comprising a 99,000-square-foot industrial distribution building on 4.7 acres, which is fully leased, indicating strong demand in the leasing market.
- Investment Return: The property was acquired on January 31, 2018, for $17.5 million, generating an unleveraged internal rate of return of 10.3%, showcasing the company's success in asset management and investment decisions, thereby enhancing its financial stability.
- Stock Price Reaction: Following the announcement, Terreno Realty's stock rose by 1.83% to $63.98, reflecting the market's positive perception of the company's asset disposal capabilities, which may attract more investor interest.
- Market Outlook: This transaction not only provides significant cash flow for the company but also paves the way for future investment opportunities, indicating Terreno Realty's strategic intent to optimize its asset portfolio and enhance investment returns.
See More
