(TRNO) Terreno Realty - Ratings and Ratios

Terreno Realty Corporation (TRNO) is a Real Estate Investment Trust (REIT) that specializes in industrial properties, focusing on six key coastal markets in the U.S.: Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. These locations are strategic hubs for logistics and distribution, benefiting from the growth of e-commerce and the demand for efficient supply chains.

As of September 30, 2024, Terreno owns 294 buildings, totaling approximately 18.3 million square feet, along with 45 improved land parcels covering about 152.4 acres. They also have eight properties under development or redevelopment and 35.4 acres of land for future projects. This diversified portfolio underscores their commitment to expansion and strategic growth in high-demand areas.

Terreno operates as an internally managed REIT, which allows them to maintain control over their strategy and operations. This structure often leads to more aligned interests between management and shareholders, potentially driving better investment decisions. They elected REIT status under the Internal Revenue Code in 2010, which provides tax advantages and predictable income through dividends.

Financially, Terreno has a market capitalization of $6.7 billion, with a price-to-earnings (P/E) ratio of 35.24 and a forward P/E of 79.37, indicating expectations for significant future growth. The price-to-book (P/B) ratio of 1.81 suggests the market values the company slightly above its book value, while the price-to-sales (P/S) ratio of 18.38 reflects a premium for their revenue generation capabilities. These metrics highlight Terrenos position as a substantial player in the industrial real estate sector, offering insights into its valuation and growth prospects for investors.