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

Terreno Realty Co. (NYSE:TRNO) announced 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 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, June 28th.

Terreno Realty has raised its dividend by an average of 14.9% per year over the last three years and has raised its dividend every year for the last 4 years. Terreno Realty has a 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. 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 Stock Performance

Shares of NYSE:TRNO traded down $0.19 during trading on Friday, hitting $54.82. The stock had a trading volume of 15,858 shares, compared to its average volume of 693,872. The stock has a 50-day simple moving average of $60.58 and a two-hundred day simple moving average of $59.93. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 2.52 and a beta of 0.85. Terreno Realty has a 12-month low of $50.42 and a 12-month 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 announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 EPS for the quarter, beating the consensus estimate of $0.58 by $0.10. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. The business had revenue of $86.48 million during the quarter, compared to analysts’ expectations of $84.06 million. On average, equities research analysts expect that Terreno Realty will post 2.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TRNO shares. Wedbush reiterated a “neutral” rating and issued a $67.00 target price on shares of Terreno Realty in a research note on Thursday, March 28th. Scotiabank upped their price objective on shares of Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. The Goldman Sachs Group upped their price objective on shares of Terreno Realty from $60.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Finally, Mizuho upped their price objective on shares of Terreno Realty from $52.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $67.11.

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.