Is AVB or TRNO cheaper?

On trailing earnings, TRNO is cheaper: AVB trades at a 23.26 P/E and TRNO at 16.49.

Which has grown faster, AVB or TRNO?

Over the past five years, TRNO grew revenue faster — AVB at a 6.36% CAGR versus TRNO at 20.57%.

Does AVB or TRNO pay a bigger dividend?

AVB yields 3.76% and TRNO yields 3.05% based on trailing dividends and the latest price.

Is AVB or TRNO more profitable?

TRNO runs the higher net margin — AVB at 37.27% versus TRNO at 86.52%.

Which has been the better investment, AVB or TRNO?

Over the past 10-year, TRNO delivered the higher annualized total return — AVB at 4.41% versus TRNO at 13.47%. Past performance doesn't predict future results.

AvalonBay Communities, Inc. (AVB) vs Terreno Realty Corporation (TRNO)

TRNO leads on 10 of 16 compared metrics.

A side-by-side comparison of AvalonBay Communities, Inc. and Terreno Realty Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 13, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

AVB

AvalonBay Communities, Inc.

$26.53B

$187.03Real Estate

TRNO

Terreno Realty Corporation

$7.15B

$67.27Real Estate

Total return — AVB vs TRNO

growth of $100 · last 16y

AVB +155.5%TRNO +260.7%TRNO compounded faster

AVB TRNO

AVB vs TRNO: by the numbers

•AVB is the larger company ($26.53B vs $7.15B market cap).
•TRNO trades at the lower earnings multiple (16.49 vs 23.26 P/E).
•TRNO converts more revenue to profit (86.52% vs 37.27% net margin).
•TRNO grew revenue faster over the past five years (20.57% vs 6.36% CAGR).
•AVB pays the higher dividend yield (3.76% vs 3.05%).

Which is better, AVB or TRNO?

Metric tally: AVB 6 · TRNO 10

It depends on what you're optimizing for:

ValueTRNO(lower P/E)

GrowthTRNO(faster 5Y revenue CAGR)

IncomeAVB(higher dividend yield)

QualityAVB(higher ROIC)

Valuation

Metric	AVB	TRNO
P/E ratio	23.26	16.49●
Forward P/E	34.15●	40.04
P/S ratio	8.60●	14.43
P/B ratio	2.25	1.65●
PEG ratio	4.98	0.14●
EV / EBITDA	17.86	13.82●
FCF yield	5.71%●	2.87%

Profitability

Metric	AVB	TRNO
Gross margin	67.92%●	63.89%
Operating margin	29.15%	40.81%●
Net margin	37.27%	86.52%●
ROE	9.75%	9.88%
ROIC	4.28%●	3.66%

Dividends

Metric	AVB	TRNO
Dividend yield	3.76%●	3.05%
Payout ratio	95.00%	52.16%

Growth (annualized)

Metric	AVB	TRNO
Revenue CAGR (5Y)	6.36%	20.57%●
EPS CAGR (5Y)	4.67%	35.52%●
FCF CAGR (5Y)	6.75%	22.41%●
Total return CAGR (5Y)	0.64%	3.07%●

Frequently asked

Which is better, AVB or TRNO?: It depends on your goal. value: TRNO (lower P/E); growth: TRNO (faster 5Y revenue CAGR); income: AVB (higher dividend yield); quality: AVB (higher ROIC). Across all compared metrics, TRNO leads 10 to 6.
Is AVB or TRNO cheaper?: On trailing earnings, TRNO is cheaper: AVB trades at a 23.26 P/E and TRNO at 16.49.
Which has grown faster, AVB or TRNO?: Over the past five years, TRNO grew revenue faster — AVB at a 6.36% CAGR versus TRNO at 20.57%.
Does AVB or TRNO pay a bigger dividend?: AVB yields 3.76% and TRNO yields 3.05% based on trailing dividends and the latest price.
Is AVB or TRNO more profitable?: TRNO runs the higher net margin — AVB at 37.27% versus TRNO at 86.52%.
Which has been the better investment, AVB or TRNO?: Over the past 10-year, TRNO delivered the higher annualized total return — AVB at 4.41% versus TRNO at 13.47%. Past performance doesn't predict future results.

Go deeper

Full AVB analysis Full TRNO analysis Interactive comparison tool

Dig into the metrics

AvalonBay Communities P/E ratio Terreno Realty P/E ratio AvalonBay Communities dividend yield Terreno Realty dividend yield AvalonBay Communities ROE Terreno Realty ROE AvalonBay Communities operating margin Terreno Realty operating margin AvalonBay Communities revenue growth Terreno Realty revenue growth AvalonBay Communities free cash flow Terreno Realty free cash flow

AvalonBay Communities & Terreno Realty appear in these rankings

Highest Dividend Yield Stocks Fastest Revenue Growth Stocks Highest Operating Margin Stocks Highest FCF Yield Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 13, 2026.