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

Terreno Realty Co. (NYSE:TRNO - Get Free Report) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders 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 yield of 3.27%. The ex-dividend date is Friday, June 28th.

Terreno Realty has raised its dividend by an average of 14.9% annually over the last three years and has raised its dividend annually for the last 4 consecutive 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. Equities 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 Trading Up 0.1 %

Shares of Terreno Realty stock traded up $0.07 during trading on Friday, reaching $55.08. 466,901 shares of the stock were exchanged, compared to its average volume of 749,242. Terreno Realty has a 1 year low of $50.42 and a 1 year high of $66.63. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 2.49 and a beta of 0.85. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average is $60.37 and its 200 day moving average is $59.95.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. The business had revenue of $86.48 million during the quarter, compared to analyst estimates of $84.06 million. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. As a group, equities research analysts expect that Terreno Realty will post 2.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TRNO has been the topic of a number of recent research reports. JMP Securities restated a "market outperform" rating and issued a $65.00 price objective on shares of Terreno Realty in a report on Thursday, March 28th. Wedbush reiterated a "neutral" rating and issued a $67.00 price target on shares of Terreno Realty in a research report on Thursday, March 28th. Piper Sandler raised their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, March 22nd. StockNews.com raised Terreno Realty from a "sell" rating to a "hold" rating in a report on Saturday, March 23rd. Finally, The Goldman Sachs Group raised their target price on shares of Terreno Realty from $60.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.