NYSE: TRNO · Industrial REITs
Terreno Realty (TRNO) fair value: undervalued or overvalued?
As of 3 Oct 2026, Faircurve's model values Terreno Realty (TRNO) at $61.36 a share. The stock last closed at $64.54, which puts the model's fair value 4.9% below the price. On the model's bands that reads as Fairly valued.
Revalued . Price is the close of 2 Oct 2026. Terreno Realty Corporation.
Faircurve Insights · 3 Oct 2026
Terreno Realty Corporation focuses on the acquisition, ownership, and management of industrial real estate assets. Their operations are strategically located in six key coastal U.S.
Faircurve's model valued Terreno Realty Corporation at $61.36 a share on 3 Oct 2026. This fair value moved +5.5% since the previous run, which gave $58.14 on 26 Sep 2026. The calibrated range over 63 trading days is $51.19 to $74.39, and ranges built this way held the price 60% of the time at this horizon. The evidence grade is High, looking at the dividend record of at least three years of paid dividends with no cut.
The model compares the company with STAG Industrial, Inc., First Industrial Realty Trust, Inc., Rexford Industrial Realty, Inc., CubeSmart, EastGroup Properties, Inc., LXP Industrial Trust, Extra Space Storage Inc., and Innovative Industrial Properties, Inc. Moves around the last 8 earnings reports were: 5 Aug 2026 -3.1%, 6 May 2026 +2.4%, 4 Feb 2026 +4.1%, 5 Nov 2025 +1.8%, 6 Aug 2025 -1.5%, 8 May 2025 +4.2%, 5 Feb 2025 +2.5%, 6 Nov 2024 -0.4%. The median size, ignoring direction, was 2.4%.
Written from the figures on this page for the 3 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give TRNO?
The calibrated range for TRNO over 63 trading days is $51.19 to $74.39. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 4,809 past valuations, refreshed 3 Oct 2026). Ranges built this way held the price 60% of the time at this horizon.
The model's own range is $56.28 to $67.68.
How does TRNO compare with similar companies?
The companies in industrial reits closest to Terreno Realty in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| STAG STAG Industrial, Inc. | $36.05 | $35.10 | -2.6% | Fairly valued |
| FR First Industrial Realty Trust, Inc. | $59.46 | $51.63 | -13.2% | Overvalued |
| REXR Rexford Industrial Realty, Inc. | $36.69 | $40.34 | +9.9% | Undervalued |
| CUBE CubeSmart | $37.52 | $42.56 | +13.4% | Undervalued |
| EGP EastGroup Properties, Inc. | $195.78 | $141.27 | -27.8% | Overvalued |
| LXP LXP Industrial Trust | $60.95 | $49.64 | -18.6% | Overvalued |
| EXR Extra Space Storage Inc. | $133.25 | $119.15 | -10.6% | Overvalued |
| IIPR Innovative Industrial Properties, Inc. | $50.52 | $77.57 | +53.5% | Undervalued |
When does TRNO report earnings, and how has the stock reacted?
Terreno Realty's next earnings report is scheduled for 4 Nov 2026. Companies can move their dates.
How TRNO moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 2.4%.
| Report date | Two session move |
|---|---|
| 5 Aug 2026 | -3.1% |
| 6 May 2026 | +2.4% |
| 4 Feb 2026 | +4.1% |
| 5 Nov 2025 | +1.8% |
| 6 Aug 2025 | -1.5% |
| 8 May 2025 | +4.2% |
| 5 Feb 2025 | +2.5% |
| 6 Nov 2024 | -0.4% |
Terreno Realty at a glance
Terreno Realty Corporation, together with its subsidiaries, focuses on the acquisition, ownership, and management of industrial real estate assets. Their operations are strategically located in six key coastal U.S.
- Market value
- $6.9B
- Sector
- Real Estate
- Industry
- Industrial REITs
- Beta to the US market
- 0.29
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model values Terreno Realty three ways and blends them; the range around the fair value comes from 2,000 simulations of the dividend model. The full method is documented here.
What changed in the latest valuation?
On 26 Sep 2026 the model's fair value for TRNO was $58.14. As of 3 Oct 2026 it is $61.36, a change of +5.5%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Terreno Realty's valuation
Is Terreno Realty stock undervalued or overvalued?
On Faircurve's model, TRNO reads as Fairly valued as of 3 Oct 2026. The model's fair value is $61.36 a share against a last close of $64.54, a gap of -4.9%.
What is TRNO's fair value?
$61.36 a share as of 3 Oct 2026. The fair value blends three methods: a cash-flow multiple against comparable companies, a dividend model, and the value of the properties. The model's own range is $56.28 to $67.68.
What price range does the model give TRNO?
$51.19 to $74.39 over 63 trading days. Ranges built this way held the price 60% of the time across 4,809 past valuations, refreshed 3 Oct 2026.
When does Terreno Realty report earnings next?
The next report is scheduled for 4 Nov 2026. Companies can move their dates.
How much has TRNO moved on past earnings reports?
Across its last 8 reports the median two session move was 2.4%, ignoring direction. The largest was +4.2% around the report of 8 May 2025.
How confident is the model in this valuation?
The model's evidence grade for TRNO is high. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It is not a probability that the fair value is right, or that the price reaches it.