Terreno Realty Co. (TRNO) to Issue Quarterly Dividend of $0.49 on April 4th

Terreno Realty Co. (NYSE:TRNO) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders of record on Thursday, March 27th will be given a dividend of 0.49 per share by the real estate investment trust on Friday, April 4th. This represents a $1.96 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, March 27th.

Terreno Realty has raised its dividend payment by an average of 12.8% per year over the last three years. Terreno Realty has a dividend payout ratio of 117.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Terreno Realty to earn $2.66 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 73.7%.

Terreno Realty Trading Up 1.5 %

NYSE:TRNO opened at $67.60 on Friday. Terreno Realty has a one year low of $53.78 and a one year high of $71.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.71 and a quick ratio of 2.71. The firm has a 50-day moving average of $61.29 and a 200-day moving average of $64.09. The company has a market cap of $6.74 billion, a PE ratio of 37.14, a PEG ratio of 2.74 and a beta of 0.91.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. As a group, equities research analysts expect that Terreno Realty will post 2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TRNO. Piper Sandler dropped their price target on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday. BMO Capital Markets began coverage on shares of Terreno Realty in a research note on Tuesday. They issued a “market perform” rating and a $71.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price on the stock. Finally, StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.27.

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.