Terreno Realty Co. (NYSE:TRNO) Announces Quarterly Dividend of $0.49

Terreno Realty Co. (NYSE:TRNO) declared a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.49 per share by the real estate investment trust on Tuesday, January 7th. This represents a $1.96 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, December 13th.

Terreno Realty has raised its dividend payment by an average of 14.9% annually over the last three years. Terreno Realty has a payout ratio of 118.8% indicating that 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 $2.66 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 Price Performance

TRNO stock opened at $62.78 on Wednesday. The business’s fifty day moving average price is $61.98 and its 200 day moving average price is $63.59. Terreno Realty has a 12-month low of $53.78 and a 12-month high of $71.63. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $6.26 billion, a PE ratio of 34.49, a P/E/G ratio of 2.73 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. The business had revenue of $99.64 million for the quarter, compared to analysts’ expectations of $96.31 million. On average, sell-side analysts anticipate that Terreno Realty will post 2.41 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on TRNO shares. JMP Securities reissued a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research report on Monday. Wedbush reiterated a “neutral” rating and issued a $70.00 target price (up from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. Mizuho restated an “underperform” rating and set a $62.00 price target on shares of Terreno Realty in a report on Thursday, September 5th. Barclays decreased their price objective on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $69.22.

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.