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

Terreno Realty (NYSE:TRNO) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.24, Zacks reports. Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%.

Terreno Realty Stock Down 0.8 %

NYSE:TRNO traded down $0.54 during mid-day trading on Friday, reaching $67.13. The stock had a trading volume of 200,693 shares, compared to its average volume of 829,567. The stock has a market cap of $6.70 billion, a P/E ratio of 36.89, a PEG ratio of 2.74 and a beta of 0.91. The business’s 50 day moving average is $61.42 and its 200 day moving average is $64.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.71 and a quick ratio of 2.71. Terreno Realty has a fifty-two week low of $53.78 and a fifty-two week high of $71.63.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 2.92%. Terreno Realty’s dividend payout ratio is 107.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRNO. BMO Capital Markets started coverage on Terreno Realty in a research note on Tuesday. They issued a “market perform” rating and a $71.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price on the stock. StockNews.com downgraded shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Barclays reiterated an “equal weight” rating and set a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus 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.