Terreno Realty (NYSE:TRNO) Issues Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Terreno Realty (NYSE:TRNO - Get Free Report) posted its earnings results on Wednesday. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.24, Zacks reports. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%.

Terreno Realty Trading Down 0.5 %

Shares of TRNO traded down $0.32 during mid-day trading on Friday, reaching $67.35. The company had a trading volume of 1,503,829 shares, compared to its average volume of 803,422. Terreno Realty has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The firm has a fifty day simple moving average of $61.55 and a 200-day simple moving average of $64.07. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 2.71 and a debt-to-equity ratio of 0.24.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty's dividend payout ratio (DPR) is 102.08%.

Analyst Upgrades and Downgrades

TRNO has been the subject of several recent research reports. BMO Capital Markets assumed coverage on shares of Terreno Realty in a report on Tuesday, February 4th. They set a "market perform" rating and a $71.00 target price for the company. Piper Sandler cut their price objective on Terreno Realty from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a report on Tuesday, January 14th. They set a "hold" rating and a $60.00 target price on the stock. Scotiabank cut their price target on Terreno Realty from $70.00 to $67.00 and set a "sector perform" rating for the company in a report on Friday, October 25th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $72.00 price objective on shares of Terreno Realty in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.