Terreno Realty Co. (NYSE:TRNO) to Issue $0.49 Quarterly Dividend

Terreno Realty Co. (NYSE:TRNO) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Shareholders of record on Thursday, March 27th will be given a dividend of 0.49 per share by the real estate investment trust on Friday, April 4th. This represents a $1.96 dividend on an annualized basis and a yield of 2.94%.

Terreno Realty has increased its dividend by an average of 12.8% per year over the last three years. Terreno Realty has a dividend payout ratio of 117.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Terreno Realty to earn $2.66 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 73.7%.

Terreno Realty Stock Performance

Shares of TRNO traded up $0.67 during trading hours on Wednesday, hitting $66.67. The company had a trading volume of 470,593 shares, compared to its average volume of 842,856. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 2.74 and a beta of 0.91. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $61.18 and a 200-day moving average of $64.07. Terreno Realty has a 12 month low of $53.78 and a 12 month high of $71.63.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. Equities analysts anticipate that Terreno Realty will post 2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on TRNO shares. StockNews.com lowered Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. BMO Capital Markets started coverage on shares of Terreno Realty in a report on Tuesday. They issued a “market perform” rating and a $71.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price on the stock. Scotiabank cut their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research note on Friday, October 25th. Finally, Barclays restated an “equal weight” rating and set a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $67.82.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.