Terreno Realty Corporation (TRNO) Fair Value 2026

TRNO · REIT - Industrial ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

8.6 /10

32 fundamental signals · 7 models active

Value Trap Risk

SAFE (18/100)

Quick Summary — As of 2026-08-28, Terreno Realty Corporation (TRNO) trades at $66.59, versus a $33.54 median fair value across its 7 active models — 49.6% below the current price. QOC: 8.6/10. Value Trap Risk: 18/100 (SAFE). 7/13 models active.

Key Facts

Ticker
TRNO
Price
$66.59
Quality Score
8.6/10
Value Trap Risk
18/100
Models Active
7/13
Last Updated
Strength: Quality Score of 8.6/10 indicates strong fundamentals
Risk: Majority of models suggest overvaluation

Is Terreno Realty Corporation (TRNO) Undervalued or Overvalued in 2026?

According to CirclFi’s 7-model valuation engine, Terreno Realty Corporation (TRNO) appears overvalued as of : the median of 7 independent fair value estimates is $33.54, 49.6% below the current price of $66.59. Estimates range from $21.19 to $76.78. TRNO scores 8.6/10 on fundamental quality and 18/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.4% versus its own 13-model consensus, across 3,809 rated companies as of 2026-08-28. TRNO’s -49.6% gap is wider than that market norm, and the REIT - Industrial sector median is -41.9%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy Terreno Realty Corporation Stock in 2026? →

What Fair Value Does Each Model Give TRNO?

7 Intrinsic Value Models vs. Current Price ($66.59)

Core Models (Unlocked)
Model Fair Value Upside
Ensemble · Low Conviction
 $33.54 -49.6%
Intrinsic · High Conviction
 $24.62 -63.0%
Intrinsic · High Conviction
 $32.56 -51.1%
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What Is TRNO's Fair Value Range?

Spread across 7 independent models · $21.19 to $76.78

CirclFi's 7 active models place Terreno Realty Corporation (TRNO) between $21.19 and $76.78 per share, a spread of 166% of the median. The median of that range — $33.54 — is the fair value CirclFi publishes for TRNO, against a current price of $66.59.

Low · Dynamic NAVHigh · FTNN
$21.19median $33.54$76.78
Where the range comes from
Most bearish modelDynamic NAV$21.19
Most bullish modelFTNN Topology$76.78
Model agreement1 bullish · 5 bearishwide

A band this wide is itself the finding. When independent methods land far apart, they are reading a business whose value depends heavily on which lens you apply — volatile earnings, heavy reinvestment, or an asset base that cash-flow and asset-based methods score differently. That disagreement is information: it says the choice of method matters more than usual for TRNO. Treat the median as one reading among several and compare the individual models below before acting.

Every figure above is one model's standalone output on TRNO, not a CirclFi price target. How each model works →

What Is Terreno Realty Corporation (TRNO) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, the balance of valuation evidence tilts cautious on Terreno Realty Corporation at its current price of $66.59. The median intrinsic value is estimated at $33.54 (-49.6% vs price), with 5 models flagging overvaluation risk. Model dispersion is worth noting: FTNN targets $76.78 (+15.3%), versus Dynamic NAV at $21.19 (-68.2%). This +83.5% range highlights the importance of multi-model analysis rather than relying on any single methodology.

What Do the Models Say About TRNO?

7 of 13 models are currently active for TRNO. Of these, 2 models suggest upside while 5 models suggest overvaluation. Taken together, their median fair value for TRNO is $33.54 — the figure CirclFi publishes as this stock's fair value. See which stocks rank higher →

How Does TRNO Rank in REIT - Industrial?

Among 15 REIT - Industrial stocks, TRNO ranks #3 by Quality of Company score. CirclFi's QOC score of 8.6/10 evaluates 32 fundamental signals. A score of 8.6 places TRNO in the top tier.

As a real estate investment trust, Terreno Realty Corporation operates in a sector where weighted average lease term (WALT) is a critical driver of valuation. Investors evaluating TRNO should weigh these sector-specific dynamics alongside our model-derived fair values.

Is TRNO a Value Trap?

CirclFi's Value Trap algorithm assigns TRNO a score of 18/100 (SAFE). This indicates minimal risk. Fundamentals are healthy. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

7 of 13 models are active for Terreno Realty Corporation. Moderate coverage provides meaningful perspective. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi 32-factor quality framework, Terreno Realty Corporation's fundamental quality profile registers 8.6/10. This robust score captures the company's profitability depth, growth consistency, balance sheet resilience, and shareholder return track record.

The gap between the most bullish and bearish model spans +83.5% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every TRNO valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across TRNO's 7 active models, average confidence is 41%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy Terreno Realty Corporation Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar REIT - Industrial Stocks Should You Also Analyze?

8 related REIT - Industrial stocks with 13-model coverage

CUBECubeSmartQOC 8.6PLDPrologis, Inc.QOC 8.2EGPEastGroup Properties, Inc.QOC 8.6PSAPublic StorageQOC 8.2ILPTIndustrial Logistics Properties TrustQOC 4.4REXRRexford Industrial Realty, Inc.QOC 8.0STAGSTAG Industrial, Inc.QOC 7.5LINELineage, Inc.QOC 5.4

Read investment analysis: CUBE · PLD · EGP · PSA · ILPT · REXR · STAG · LINE

Which Other Stocks Have a Similar Quality Score to TRNO?

7 companies across all industries closest to TRNO’s Quality of Company score of 8.6/10.

FBIZFirst Business Financial Services, Inc.QOC 8.6TRTootsie Roll Industries, Inc.QOC 8.6BUDABuda Juice, Inc.QOC 8.6WINAWinmark CorporationQOC 8.6ESIElement Solutions IncQOC 8.6AATCAutoscope Technologies CorporationQOC 8.5NVDANVIDIA CorporationQOC 10.0

Read investment analysis: FBIZ · TR · BUDA · WINA · ESI · AATC · NVDA

What Else Do Investors Ask About Terreno Realty Corporation’s Valuation?

What is Terreno Realty Corporation's intrinsic value in 2026?

CirclFi puts Terreno Realty Corporation (TRNO)'s intrinsic value at $33.54 — the median of 7 independent model estimates as of 2026-08-28, ranging from $21.19 to $76.78. The Quality of Company score is 8.6/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is TRNO overvalued or undervalued right now?

At $66.59, 2 of 7 active models suggest TRNO may be undervalued, while 5 indicate potential overvaluation. The median of all 7 fair value estimates is $33.54, 49.6% below the current price of $66.59 — a consensus view that TRNO is overvalued. The assessment depends on which methodology best fits Terreno Realty Corporation's business model in REIT - Industrial.

What does a Quality of Company score of 8.6 mean for TRNO?

Terreno Realty Corporation's QOC of 8.6/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores above 7 indicate strong fundamentals and disciplined management.

How many valuation models does CirclFi run on TRNO?

CirclFi analyzes TRNO with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 7 of 13 are active for this stock. Read the full methodology →

Which valuation models are most bullish and most bearish on TRNO?

Of the 7 models currently active on TRNO, FTNN Topology is the most bullish at $76.78 per share, and Dynamic NAV is the most bearish at $21.19. CirclFi's published fair value for TRNO is the median of that range, $33.54, not either extreme. The gap between the two ends equals 166% of the median — a wide spread, meaning the methods genuinely disagree and the median should carry less weight. Browse stocks by value-trap risk →

Is TRNO a value trap in 2026?

Terreno Realty Corporation's Value Trap score is 18/100 (SAFE). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap.

Cite this analysis — “According to CirclFi’s 7-model valuation engine, Terreno Realty Corporation (TRNO) has a median fair value of $33.54 — 49.6% below the current price of $66.59 — as of 2026-08-28.” Source: circlfi.com/stock/TRNO/ · Methodology
Primary sources for this TRNO valuation
  • Financial statements: Terreno Realty Corporation 10-K and 10-Q filings on SEC EDGAR (CIK 0001476150) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for TRNO as of ; valuations recomputed .

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