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

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 paid 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 2.94%.

Terreno Realty has raised its dividend payment by an average of 12.8% per year over the last three years. Terreno Realty has a payout ratio of 117.4% 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 analysts expect Terreno Realty to earn $2.66 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 73.7%.

Terreno Realty Trading Up 1.0 %

NYSE:TRNO opened at $66.67 on Thursday. The company has a market cap of $6.65 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. The company has a 50 day simple moving average of $61.18 and a two-hundred day simple moving average of $64.07. Terreno Realty has a 12 month low of $53.78 and a 12 month high of $71.63.

Terreno Realty (NYSE:TRNO) last released its quarterly 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 4.94% and a net margin of 45.37%. Research analysts forecast that Terreno Realty will post 2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays restated an “equal weight” rating and set a $60.00 price target (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Scotiabank reduced their target price on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target on the stock. JMP Securities reissued a “market outperform” rating and set a $72.00 price objective on shares of Terreno Realty in a research report on Monday, January 6th. Finally, BMO Capital Markets began coverage on Terreno Realty in a report on Tuesday. They issued a “market perform” rating and a $71.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $67.82.

Terreno Realty Company Profile

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.