Terreno Realty Co. (NYSE:TRNO) Declares Quarterly Dividend of $0.45

Terreno Realty Co. (NYSE:TRNO) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.45 per share by the real estate investment trust on Friday, July 12th. This represents a $1.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, June 28th.

Terreno Realty has raised its dividend by an average of 14.9% per year over the last three years. Terreno Realty has a dividend payout ratio of 113.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Terreno Realty to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 72.0%.

Terreno Realty Trading Up 0.1 %

Shares of TRNO stock opened at $58.43 on Thursday. The company has a 50 day moving average of $56.31 and a 200-day moving average of $60.39. Terreno Realty has a 12-month low of $50.42 and a 12-month high of $66.63. The firm has a market cap of $5.65 billion, a P/E ratio of 30.43, a PEG ratio of 2.85 and a beta of 0.89. The company has a quick ratio of 10.17, a current ratio of 10.17 and a debt-to-equity ratio of 0.23.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.18). The firm had revenue of $85.03 million during the quarter, compared to the consensus estimate of $86.56 million. Terreno Realty had a net margin of 49.12% and a return on equity of 5.59%. Sell-side analysts anticipate that Terreno Realty will post 2.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TRNO shares. The Goldman Sachs Group lowered their target price on shares of Terreno Realty from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, May 14th. Piper Sandler upped their price target on Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price target on shares of Terreno Realty in a report on Monday, May 13th. Scotiabank reduced their price target on Terreno Realty from $66.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 16th. Finally, Wedbush restated a “neutral” rating and issued a $57.00 target price (down previously from $67.00) on shares of Terreno Realty in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Terreno Realty currently has a consensus rating of “Hold” and a consensus price target of $64.60.

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.