Intrinsic value of Terreno Realty - TRNO

Previous Close

$36.82

  Intrinsic Value

$3.87

stock screener

  Rating & Target

str. sell

-89%

Previous close

$36.82

 
Intrinsic value

$3.87

 
Up/down potential

-89%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as TRNO.

We calculate the intrinsic value of TRNO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.50
  26.90
  24.71
  22.74
  20.97
  19.37
  17.93
  16.64
  15.47
  14.43
  13.48
  12.64
  11.87
  11.19
  10.57
  10.01
  9.51
  9.06
  8.65
  8.29
  7.96
  7.66
  7.40
  7.16
  6.94
  6.75
  6.57
  6.41
  6.27
  6.15
  6.03
Revenue, $m
  108
  137
  171
  210
  254
  303
  357
  417
  481
  551
  625
  704
  787
  875
  968
  1,065
  1,166
  1,272
  1,382
  1,496
  1,615
  1,739
  1,868
  2,001
  2,140
  2,285
  2,435
  2,591
  2,753
  2,923
  3,099
Variable operating expenses, $m
 
  91
  114
  140
  169
  202
  238
  278
  321
  367
  417
  469
  525
  584
  646
  710
  778
  848
  922
  998
  1,077
  1,160
  1,246
  1,335
  1,427
  1,524
  1,624
  1,728
  1,837
  1,949
  2,067
Fixed operating expenses, $m
 
  8
  8
  9
  9
  9
  9
  10
  10
  10
  10
  10
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  14
  14
  14
  15
  15
  16
  16
  16
  17
Total operating expenses, $m
  80
  99
  122
  149
  178
  211
  247
  288
  331
  377
  427
  479
  536
  595
  657
  722
  790
  860
  934
  1,011
  1,090
  1,173
  1,260
  1,349
  1,441
  1,539
  1,639
  1,744
  1,853
  1,965
  2,084
Operating income, $m
  28
  37
  49
  61
  76
  92
  110
  129
  150
  173
  198
  224
  251
  280
  311
  343
  376
  411
  448
  485
  525
  566
  608
  652
  698
  746
  796
  847
  901
  957
  1,015
EBITDA, $m
  62
  87
  110
  137
  167
  201
  238
  279
  324
  372
  423
  478
  535
  596
  660
  727
  797
  870
  946
  1,025
  1,107
  1,193
  1,281
  1,374
  1,470
  1,570
  1,673
  1,781
  1,894
  2,010
  2,132
Interest expense (income), $m
  12
  15
  19
  24
  30
  37
  44
  52
  61
  71
  82
  93
  105
  118
  131
  145
  160
  175
  191
  208
  226
  244
  262
  282
  302
  323
  345
  368
  392
  417
  442
Earnings before tax, $m
  15
  23
  30
  37
  46
  55
  65
  77
  89
  102
  116
  131
  146
  163
  180
  198
  216
  236
  256
  277
  299
  322
  346
  370
  396
  423
  450
  479
  509
  540
  573
Tax expense, $m
  0
  6
  8
  10
  12
  15
  18
  21
  24
  28
  31
  35
  40
  44
  49
  53
  58
  64
  69
  75
  81
  87
  93
  100
  107
  114
  122
  129
  137
  146
  155
Net income, $m
  15
  17
  22
  27
  33
  40
  48
  56
  65
  75
  85
  95
  107
  119
  131
  144
  158
  172
  187
  202
  218
  235
  252
  270
  289
  308
  329
  350
  372
  394
  418

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  14
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,279
  1,612
  2,011
  2,468
  2,985
  3,564
  4,203
  4,902
  5,661
  6,477
  7,351
  8,279
  9,262
  10,298
  11,387
  12,527
  13,718
  14,960
  16,255
  17,602
  19,002
  20,459
  21,972
  23,544
  25,178
  26,877
  28,644
  30,481
  32,393
  34,384
  36,458
Adjusted assets (=assets-cash), $m
  1,265
  1,612
  2,011
  2,468
  2,985
  3,564
  4,203
  4,902
  5,661
  6,477
  7,351
  8,279
  9,262
  10,298
  11,387
  12,527
  13,718
  14,960
  16,255
  17,602
  19,002
  20,459
  21,972
  23,544
  25,178
  26,877
  28,644
  30,481
  32,393
  34,384
  36,458
Revenue / Adjusted assets
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
Average production assets, $m
  1,168
  1,482
  1,848
  2,269
  2,744
  3,276
  3,863
  4,506
  5,204
  5,954
  6,757
  7,611
  8,515
  9,467
  10,468
  11,515
  12,610
  13,753
  14,942
  16,181
  17,468
  18,807
  20,198
  21,644
  23,146
  24,707
  26,331
  28,020
  29,778
  31,608
  33,515
Working capital, $m
  0
  -18
  -22
  -27
  -33
  -39
  -46
  -54
  -63
  -72
  -81
  -91
  -102
  -114
  -126
  -138
  -152
  -165
  -180
  -194
  -210
  -226
  -243
  -260
  -278
  -297
  -317
  -337
  -358
  -380
  -403
Total debt, $m
  415
  543
  690
  859
  1,050
  1,263
  1,499
  1,757
  2,037
  2,338
  2,660
  3,003
  3,366
  3,748
  4,150
  4,570
  5,010
  5,468
  5,946
  6,443
  6,960
  7,497
  8,056
  8,636
  9,239
  9,866
  10,517
  11,195
  11,901
  12,636
  13,401
Total liabilities, $m
  467
  595
  742
  911
  1,102
  1,315
  1,551
  1,809
  2,089
  2,390
  2,712
  3,055
  3,418
  3,800
  4,202
  4,622
  5,062
  5,520
  5,998
  6,495
  7,012
  7,549
  8,108
  8,688
  9,291
  9,918
  10,569
  11,247
  11,953
  12,688
  13,453
Total equity, $m
  812
  1,017
  1,269
  1,557
  1,884
  2,249
  2,652
  3,093
  3,572
  4,087
  4,638
  5,224
  5,845
  6,498
  7,185
  7,904
  8,656
  9,440
  10,257
  11,107
  11,991
  12,909
  13,864
  14,856
  15,888
  16,959
  18,074
  19,233
  20,440
  21,696
  23,005
Total liabilities and equity, $m
  1,279
  1,612
  2,011
  2,468
  2,986
  3,564
  4,203
  4,902
  5,661
  6,477
  7,350
  8,279
  9,263
  10,298
  11,387
  12,526
  13,718
  14,960
  16,255
  17,602
  19,003
  20,458
  21,972
  23,544
  25,179
  26,877
  28,643
  30,480
  32,393
  34,384
  36,458
Debt-to-equity ratio
  0.511
  0.530
  0.540
  0.550
  0.560
  0.560
  0.570
  0.570
  0.570
  0.570
  0.570
  0.570
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
Adjusted equity ratio
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  15
  17
  22
  27
  33
  40
  48
  56
  65
  75
  85
  95
  107
  119
  131
  144
  158
  172
  187
  202
  218
  235
  252
  270
  289
  308
  329
  350
  372
  394
  418
Depreciation, amort., depletion, $m
  34
  49
  62
  76
  91
  109
  129
  150
  173
  198
  225
  254
  284
  316
  349
  384
  420
  458
  498
  539
  582
  627
  673
  721
  772
  824
  878
  934
  993
  1,054
  1,117
Funds from operations, $m
  51
  66
  83
  103
  125
  149
  177
  206
  238
  273
  310
  349
  391
  434
  480
  528
  578
  631
  685
  742
  801
  862
  926
  992
  1,061
  1,132
  1,206
  1,284
  1,364
  1,448
  1,535
Change in working capital, $m
  2
  -4
  -4
  -5
  -6
  -6
  -7
  -8
  -8
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
Cash from operations, $m
  49
  70
  88
  108
  131
  156
  184
  214
  247
  282
  320
  359
  401
  446
  492
  541
  592
  644
  699
  757
  816
  878
  942
  1,009
  1,079
  1,151
  1,226
  1,304
  1,385
  1,470
  1,558
Maintenance CAPEX, $m
  0
  -39
  -49
  -62
  -76
  -91
  -109
  -129
  -150
  -173
  -198
  -225
  -254
  -284
  -316
  -349
  -384
  -420
  -458
  -498
  -539
  -582
  -627
  -673
  -721
  -772
  -824
  -878
  -934
  -993
  -1,054
New CAPEX, $m
  -43
  -314
  -366
  -420
  -476
  -532
  -587
  -643
  -697
  -751
  -803
  -854
  -904
  -952
  -1,000
  -1,048
  -1,095
  -1,142
  -1,190
  -1,238
  -1,288
  -1,339
  -1,391
  -1,446
  -1,502
  -1,562
  -1,624
  -1,689
  -1,758
  -1,830
  -1,906
Cash from investing activities, $m
  -151
  -353
  -415
  -482
  -552
  -623
  -696
  -772
  -847
  -924
  -1,001
  -1,079
  -1,158
  -1,236
  -1,316
  -1,397
  -1,479
  -1,562
  -1,648
  -1,736
  -1,827
  -1,921
  -2,018
  -2,119
  -2,223
  -2,334
  -2,448
  -2,567
  -2,692
  -2,823
  -2,960
Free cash flow, $m
  -102
  -283
  -328
  -374
  -421
  -467
  -513
  -558
  -601
  -642
  -682
  -720
  -756
  -790
  -824
  -856
  -887
  -918
  -949
  -980
  -1,011
  -1,043
  -1,076
  -1,110
  -1,145
  -1,182
  -1,221
  -1,263
  -1,307
  -1,353
  -1,402
Issuance/(repayment) of debt, $m
  35
  128
  147
  169
  191
  213
  236
  258
  280
  301
  322
  343
  363
  382
  402
  421
  440
  459
  478
  497
  517
  537
  558
  580
  603
  627
  652
  678
  706
  735
  765
Issuance/(repurchase) of shares, $m
  100
  203
  230
  261
  293
  325
  355
  385
  414
  441
  466
  491
  513
  535
  555
  575
  594
  612
  630
  648
  665
  684
  702
  722
  742
  763
  786
  810
  835
  862
  890
Cash from financing (excl. dividends), $m  
  131
  331
  377
  430
  484
  538
  591
  643
  694
  742
  788
  834
  876
  917
  957
  996
  1,034
  1,071
  1,108
  1,145
  1,182
  1,221
  1,260
  1,302
  1,345
  1,390
  1,438
  1,488
  1,541
  1,597
  1,655
Total cash flow (excl. dividends), $m
  29
  47
  49
  56
  63
  71
  78
  86
  93
  100
  107
  114
  120
  127
  133
  140
  146
  152
  158
  165
  171
  178
  185
  192
  200
  208
  216
  225
  234
  244
  254
Retained Cash Flow (-), $m
  -79
  -219
  -251
  -289
  -326
  -365
  -403
  -441
  -479
  -515
  -551
  -586
  -620
  -654
  -687
  -719
  -752
  -784
  -817
  -850
  -884
  -919
  -955
  -992
  -1,031
  -1,072
  -1,115
  -1,159
  -1,207
  -1,256
  -1,309
Prev. year cash balance distribution, $m
 
  14
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -158
  -203
  -233
  -263
  -294
  -325
  -356
  -386
  -415
  -444
  -472
  -500
  -527
  -553
  -580
  -606
  -632
  -658
  -685
  -712
  -741
  -770
  -800
  -831
  -864
  -898
  -935
  -973
  -1,013
  -1,055
Discount rate, %
 
  7.30
  7.67
  8.05
  8.45
  8.87
  9.32
  9.78
  10.27
  10.79
  11.32
  11.89
  12.49
  13.11
  13.77
  14.45
  15.18
  15.93
  16.73
  17.57
  18.45
  19.37
  20.34
  21.35
  22.42
  23.54
  24.72
  25.96
  27.25
  28.62
  30.05
PV of cash for distribution, $m
 
  -147
  -175
  -184
  -190
  -192
  -190
  -185
  -176
  -165
  -152
  -137
  -122
  -106
  -91
  -77
  -63
  -51
  -41
  -32
  -24
  -18
  -13
  -9
  -6
  -4
  -3
  -2
  -1
  -1
  0
Current shareholders' claim on cash, %
  100
  90.3
  82.5
  75.9
  70.4
  65.6
  61.5
  58.0
  54.9
  52.2
  49.8
  47.7
  45.8
  44.1
  42.5
  41.2
  39.9
  38.7
  37.7
  36.7
  35.8
  35.0
  34.2
  33.5
  32.8
  32.1
  31.5
  30.9
  30.4
  29.8
  29.3

Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (D.C.)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment. As of December 31, 2016, the Company owned 166 buildings aggregating approximately 12 million square feet and five land parcels consisting of 22.8 acres. As of December 31, 2016, its properties were leased to 376 customers. The Company focuses on functional buildings in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets in which it operates.

FINANCIAL RATIOS  of  Terreno Realty (TRNO)

Valuation Ratios
P/E Ratio 116.4
Price to Sales 16.2
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 35.6
Price to Free Cash Flow 290.9
Growth Rates
Sales Growth Rate 12.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 115%
Cap. Spend. - 3 Yr. Gr. Rate 33.9%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 51.1%
Total Debt to Equity 51.1%
Interest Coverage 2
Management Effectiveness
Return On Assets 2.2%
Ret/ On Assets - 3 Yr. Avg. 2.1%
Return On Total Capital 1.3%
Ret/ On T. Cap. - 3 Yr. Avg. 1.3%
Return On Equity 1.9%
Return On Equity - 3 Yr. Avg. 1.9%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 72.2%
Gross Margin - 3 Yr. Avg. 72.2%
EBITDA Margin 56.5%
EBITDA Margin - 3 Yr. Avg. 56.7%
Operating Margin 25.9%
Oper. Margin - 3 Yr. Avg. 25.2%
Pre-Tax Margin 13.9%
Pre-Tax Margin - 3 Yr. Avg. 15.2%
Net Profit Margin 13.9%
Net Profit Margin - 3 Yr. Avg. 15.2%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 246.7%

TRNO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TRNO stock intrinsic value calculation we used $108 million for the last fiscal year's total revenue generated by Terreno Realty. The default revenue input number comes from 2016 income statement of Terreno Realty. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TRNO stock valuation model: a) initial revenue growth rate of 26.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.3%, whose default value for TRNO is calculated based on our internal credit rating of Terreno Realty, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Terreno Realty.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TRNO stock the variable cost ratio is equal to 66.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $8 million in the base year in the intrinsic value calculation for TRNO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Terreno Realty.

Corporate tax rate of 27% is the nominal tax rate for Terreno Realty. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TRNO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TRNO are equal to 1081.5%.

Life of production assets of 34.4 years is the average useful life of capital assets used in Terreno Realty operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TRNO is equal to -13%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $812 million for Terreno Realty - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 52.431 million for Terreno Realty is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Terreno Realty at the current share price and the inputted number of shares is $1.9 billion.

RELATED COMPANIES Price Int.Val. Rating
FR First Industri 32.27 2.59  str.sell
PLD Prologis 65.76 7.05  str.sell
CONE CyrusOne 59.40 3.26  str.sell
EGP EastGroup Prop 91.00 4.64  str.sell
DRE Duke Realty 27.72 2.44  str.sell
COR CoreSite Realt 116.52 24.08  str.sell
REXR Rexford Indust 30.78 3.30  str.sell
LPT Liberty Proper 43.88 5.10  str.sell
DLR Digital Realty 115.31 5.14  str.sell

COMPANY NEWS

▶ Terreno reports 3Q results   [Nov-01-17 07:06PM  Associated Press]
▶ Pebblebrook Hotel Tr Shows Rising Price Performance With Jump To 81 RS Rating   [Oct-06-17 03:00AM  Investor's Business Daily]
▶ Should You Buy Terreno Realty Corporation (TRNO)?   [Sep-20-17 07:33PM  Simply Wall St.]
▶ Terreno reports 2Q results   [Aug-02-17 06:21PM  Associated Press]
▶ Terreno reports 1Q results   [May-04-17 05:03AM  Associated Press]
▶ 6 Stocks Trading Up With Unusual Volume   [Mar-16-17 01:15PM  TheStreet.com]
▶ Terreno Realty Corporation Announces Leases in Los Angeles   [Dec-28-16 09:15AM  Business Wire]
▶ Is Terreno Realty Corporation (TRNO) a Good Stock to Buy?   [Dec-14-16 11:23AM  at Insider Monkey]
▶ What Hedge Fund Sentiment Says about HudBay Minerals Inc (HBM)?   [Nov-25-16 04:37PM  at Insider Monkey]
Financial statements of TRNO
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.