Terreno Realty (NYSE:TRNO) Announces Quarterly Earnings Results

Terreno Realty (NYSE:TRNO) announced its earnings results on Wednesday. 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), Zacks reports. The firm had revenue of $99.64 million for the quarter, compared to analyst estimates of $96.31 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%.

Terreno Realty Trading Up 2.6 %

Terreno Realty stock traded up $1.58 during mid-day trading on Friday, hitting $62.00. 769,245 shares of the company’s stock were exchanged, compared to its average volume of 709,786. Terreno Realty has a fifty-two week low of $53.23 and a fifty-two week high of $71.63. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.18 billion, a P/E ratio of 34.07, a PEG ratio of 2.76 and a beta of 0.90. The company’s 50 day simple moving average is $65.30 and its 200-day simple moving average is $62.69.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, December 13th. Terreno Realty’s dividend payout ratio (DPR) is 107.69%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TRNO shares. Mizuho reissued an “underperform” rating and issued a $62.00 price objective on shares of Terreno Realty in a research note on Thursday, September 5th. StockNews.com downgraded shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Barclays decreased their price target on shares of Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Wedbush restated a “neutral” rating and issued a $70.00 price objective (up previously from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Finally, JMP Securities increased their price objective on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.