Is TRNO halal?
Terreno Realty Corporation
Doubtful
No clear verdict is possible for Terreno Realty Corporation — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 14 October 2026
Exchange
NYSE
Price
64.06
Day
+0.20%
Market cap
$7.15B
Industry
REIT - Industrial
Sector
Real Estate
What the company does
Terreno Realty is a REIT of industrial/warehouse buildings in six major US coastal cities (New York, Los Angeles, Miami and others). Its money comes from warehouse rent (the REIT structure is checked by the screener).
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Activity needs clarification: REIT - Industrial
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $942.47M ÷ 36-month average market cap $6.07B = 15.5%
15.5%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $51.21M ÷ 36-month average market cap $6.07B = 0.8%
0.8%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $5.33M ÷ annual revenue $476.38M (2025) = 1.1%
1.1%
Pass
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $7.15B.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- SPRE 4.94%
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 1 superinvestors · Average reported price: $64.77
- Christopher DavisDavis Advisors$7.2M0.0%
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Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.