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

Terreno Realty Co. (NYSE:TRNO) declared a quarterly dividend on Wednesday, February 5th, RTT News reports. Investors 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 yield of 3.06%. The ex-dividend date is Thursday, March 27th.

Terreno Realty has increased its dividend by an average of 12.8% annually over the last three years. Terreno Realty has a dividend payout ratio of 116.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Terreno Realty to earn $2.87 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 68.3%.

Terreno Realty Price Performance

TRNO stock opened at $64.10 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. The firm has a market cap of $6.40 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.82 and a beta of 0.93. The company’s 50-day moving average price is $65.89 and its two-hundred day moving average price is $63.75. Terreno Realty has a 12 month low of $53.78 and a 12 month high of $71.63.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, analysts anticipate that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRNO. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Scotiabank increased their target price on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research report on Friday, February 28th. Barclays restated an “equal weight” rating and set a $60.00 price target (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Piper Sandler cut their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, BMO Capital Markets upped their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Terreno Realty presently has an average rating of “Hold” and an average price target of $69.36.

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.