Is OZ or TRNO more undervalued in 2026?

CirclFi compares Belpointe PREP, LLC (OZ) and Terreno Realty Corporation (TRNO) using 13 institutional-grade valuation models. OZ has a Quality of Company score of 4.3/10 while TRNO scores 3.7/10.

Which is a better buy — OZ or TRNO?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do OZ and TRNO valuations compare?

OZ at $48.00 and TRNO at $65.69 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

OZ vs TRNO Valuation Comparison 2026 — Intrinsic Value Analysis

OZ

Real Estate

Belpointe PREP, LLC

Quality

4.3

out of 10

Value Trap

LOW

Price

$48.00

Last close

Models

4/13

Active

TRNO

Real Estate

Terreno Realty Corporation

Quality

3.7

out of 10

Value Trap

SAFE

Price

$65.69

Last close

Models

13/13

Active

Model-by-Model Comparison

Model	Type	OZ Fair Value	OZ Upside	TRNO Fair Value	TRNO Upside
Bayesian DCF	Intrinsic	—	—	$16.35	-75.1%
Earnings Power Value	Intrinsic	—	—	$24.71	-62.1%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$12.93	-73.2%	$55.99	-14.8%
Dynamic NAV	Asset-Based	$16.41	-65.8%	$21.81	-66.8%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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OZ vs TRNO — Which Stock Is More Undervalued?

OZ scores higher with a 4.3/10 quality rating vs TRNO's 3.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Belpointe PREP, LLC (OZ) and Terreno Realty Corporation (TRNO) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

OZ currently trades at $48.00 with a QOC of 4.3/10, while TRNO trades at $65.69 with a QOC of 3.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).