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

Terreno Realty Co. (NYSE:TRNO) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors 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 yield of 3.25%. 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 119.5% 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 $2.65 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 74.0%.

Terreno Realty Trading Up 1.1 %

TRNO stock traded up $0.64 during trading on Thursday, reaching $60.37. 943,995 shares of the stock traded hands, compared to its average volume of 707,680. The business’s 50 day moving average price is $65.60 and its 200-day moving average price is $62.65. Terreno Realty has a 52-week low of $53.23 and a 52-week high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a market capitalization of $5.85 billion, a PE ratio of 33.00, a P/E/G ratio of 2.80 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. The company had revenue of $94.25 million during the quarter, compared to analysts’ expectations of $89.07 million. As a group, sell-side analysts forecast that Terreno Realty will post 2.41 earnings per share for the current year.

Insider Buying and Selling at Terreno Realty

In other Terreno Realty news, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the transaction, the chief financial officer now owns 101,927 shares in the company, valued at approximately $6,970,787.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP John Tull Meyer sold 6,145 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the sale, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at $7,618,216.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following the sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,643 shares of company stock worth $1,277,581 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

TRNO has been the subject of several analyst reports. Wells Fargo & Company downgraded Terreno Realty from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $71.00 to $75.00 in a research report on Wednesday, August 28th. Wolfe Research raised Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd. Wedbush reaffirmed a “neutral” rating and issued a $70.00 target price (up previously from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. JMP Securities increased their price target on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a report on Tuesday, August 13th. Finally, The Goldman Sachs Group increased their price target on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.22.

Terreno Realty Company Profile

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.