Terreno Realty Co. (NYSE:TRNO) to Issue $0.49 Quarterly Dividend

Terreno Realty Co. (NYSE:TRNO - Get Free Report) 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 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Thursday, March 27th.

Terreno Realty has increased its dividend payment by an average of 12.8% annually over the last three years. Terreno Realty has a payout ratio of 116.7% 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 $2.88 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 68.1%.

Terreno Realty Price Performance

TRNO stock traded down $0.32 during trading on Friday, reaching $67.35. 1,503,829 shares of the company were exchanged, compared to its average volume of 803,422. Terreno Realty has a twelve month low of $53.78 and a twelve month high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 2.71. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 35.08, a P/E/G ratio of 2.85 and a beta of 0.91. The company has a 50-day moving average of $61.55 and a two-hundred day moving average of $64.07.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its earnings results 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 return on equity of 5.20% and a net margin of 48.18%. As a group, equities analysts predict that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TRNO. Barclays reiterated an "equal weight" rating and issued a $60.00 target price (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Scotiabank decreased their price objective on shares of Terreno Realty from $70.00 to $67.00 and set a "sector perform" rating for the company in a research report on Friday, October 25th. Piper Sandler dropped their target price on shares of Terreno Realty from $80.00 to $78.00 and set an "overweight" rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a "hold" rating and a $60.00 price target on the stock. Finally, JMP Securities reissued a "market outperform" rating and issued a $72.00 price objective on shares of Terreno Realty in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Terreno Realty has an average rating of "Hold" and a consensus price target 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.