Terreno Realty Corporation to Issue Quarterly Dividend of $0.52 (NYSE:TRNO)

Key Points

• Terreno Realty declared a quarterly dividend of $0.52 per share (annualized $2.08), payable July 10 to holders of record on June 26, implying a yield of about 3.1%.
• The company’s current dividend payout ratio is 123.1% (not covered by current earnings), but analysts forecast $2.97 EPS next year, which would bring the expected payout ratio down to roughly 70% and restore coverage.
• Terreno beat expectations this quarter with $0.66 EPS versus a $0.30 consensus, and carries a consensus analyst rating of "Moderate Buy" with an average price target of $69.36.

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) declared a quarterly dividend on Wednesday, May 6th. Shareholders of record on Friday, June 26th will be given a dividend of 0.52 per share by the real estate investment trust on Friday, July 10th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, June 26th.

Terreno Realty has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 5 years. Terreno Realty has a dividend payout ratio of 123.1% meaning 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 $2.97 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 70.0%.

Terreno Realty Stock Up 1.7%

TRNO stock opened at $66.09 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $63.99 and a two-hundred day moving average price of $62.38. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 16.95 and a beta of 1.06. Terreno Realty has a twelve month low of $53.00 and a twelve month high of $67.55.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, topping the consensus estimate of $0.30 by $0.36. Terreno Realty had a return on equity of 10.08% and a net margin of 84.51%.The company had revenue of $124.44 million during the quarter, compared to the consensus estimate of $122.37 million. Analysts anticipate that Terreno Realty will post 2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TRNO. Scotiabank lifted their target price on Terreno Realty from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 14th. Citizens Jmp lifted their target price on Terreno Realty from $66.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Friday, February 6th. KeyCorp lifted their target price on Terreno Realty from $68.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, February 9th. Piper Sandler lifted their target price on Terreno Realty from $75.00 to $79.00 and gave the stock an "overweight" rating in a research note on Monday, February 9th. Finally, Royal Bank Of Canada set a $72.00 target price on Terreno Realty in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.36.

Terreno Realty Company Profile

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

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