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

Terreno Realty Co. (NYSE:TRNO) declared a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Shareholders 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 3.24%. The ex-dividend date of this dividend is Friday, December 13th.

Terreno Realty has increased its dividend payment by an average of 14.9% per year over the last three years. Terreno Realty has a payout ratio of 119.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Shares of NYSE TRNO opened at $60.41 on Friday. 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 company has a market capitalization of $5.85 billion, a PE ratio of 33.38, a PEG ratio of 2.76 and a beta of 0.90. The stock’s 50 day moving average price is $65.44 and its 200-day moving average price is $62.64. Terreno Realty has a twelve month low of $53.23 and a twelve month high of $71.63.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data 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 business had revenue of $94.25 million during the quarter, compared to analysts’ expectations of $89.07 million. On average, equities analysts anticipate that Terreno Realty will post 2.41 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Mizuho reaffirmed an “underperform” rating and issued a $62.00 price objective on shares of Terreno Realty in a research report on Thursday, September 5th. Wolfe Research upgraded shares of Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. JMP Securities upped their price objective on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 13th. Barclays decreased their target price on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Scotiabank dropped their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, October 25th. Two equities research 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.com, 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.