Terreno Realty Corporation: This Coastal Industrial REIT Is A Buy
Terreno Realty Corporation (TRNO) is rated a Buy with a $70 price target, supported by strong Q1 2026 earnings and a robust development pipeline. TRNO's infill, supply-constrained coastal market focus underpins high occupancy (96.3%) and resilient same-store NOI growth, reinforcing its structural competitive advantage. The REIT maintains a conservative balance sheet (net debt/EBITDA 2.5x) and consistent dividend growth (11.6% CAGR since 2011), with a well-covered 3.17% forward yield.
TRNO - Terreno Realty Corporation