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

Terreno Realty Co. (NYSE:TRNO) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, June 28th will be paid 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 3.28%. The ex-dividend date of this dividend is Friday, June 28th.

Terreno Realty has raised its dividend payment by an average of 14.9% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Terreno Realty has a payout ratio of 109.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

Shares of TRNO stock traded down $0.15 during mid-day trading on Friday, reaching $54.86. The stock had a trading volume of 58,379 shares, compared to its average volume of 694,232. The business’s fifty day moving average is $60.58 and its 200-day moving average is $59.93. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.28. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 2.52 and a beta of 0.85. Terreno Realty has a 1-year low of $50.42 and a 1-year high of $66.63.

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

Wall Street Analyst Weigh In

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