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

Terreno Realty Co. (NYSE:TRNO) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders 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 dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, June 28th.

Terreno Realty has increased its dividend by an average of 14.9% annually over the last three years and has raised its dividend every year for the last 4 years. Terreno Realty has a dividend payout ratio of 109.8% meaning 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 $2.67 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 67.4%.

Terreno Realty Trading Down 0.8 %

Shares of TRNO traded down $0.42 during mid-day trading on Friday, hitting $54.59. 98,792 shares of the company’s stock traded hands, compared to its average volume of 694,700. The firm has a market capitalization of $5.27 billion, a P/E ratio of 30.16, a PEG ratio of 2.52 and a beta of 0.85. The business’s 50-day moving average price is $60.58 and its 200-day moving average price is $59.93. Terreno Realty has a 1 year low of $50.42 and a 1 year high of $66.63. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.28.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.10. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. The company had revenue of $86.48 million for the quarter, compared to analysts’ expectations of $84.06 million. As a group, sell-side analysts forecast that Terreno Realty will post 2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Terreno Realty from $60.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Wedbush reaffirmed a “neutral” rating and issued a $67.00 target price on shares of Terreno Realty in a report on Thursday, March 28th. StockNews.com upgraded Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price target on shares of Terreno Realty in a research note on Thursday, March 28th. Finally, Barclays began coverage on shares of Terreno Realty in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.11.

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.