Terreno Realty Corp

TRNO remains in a Stage 2 advancing uptrend confirmed by rising EMAs and higher highs and lows, but the recent blow-off top candle on extreme volume has created overbought conditions and intraday rejection. Price is meaningfully extended above key moving averages and momentum indicators are stretched. We defer entering on the long side until a clean pullback into the rising 9/21 EMA zone and subsequent acceptance, adopting a Stalk posture.

• ↑22.4% cash rent growth on new/renewed leases covering 233,000 sq ft in Florida
• ↑P/E at 16.14x near its 10-year low and GF Score 93/100 imply undervaluation
• ↓Negative earnings yield raises concern over near-term return potential