Terreno Realty Co. (TRNO) To Go Ex-Dividend on June 28th

Terreno Realty Co. (NYSE:TRNO) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.45 per share by the real estate investment trust on Friday, July 12th. This represents a $1.80 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, June 28th.

Terreno Realty has raised its dividend by an average of 14.9% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Terreno Realty has a dividend payout ratio of 109.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Terreno Realty to earn $2.67 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 67.4%.

Terreno Realty Price Performance

Shares of NYSE:TRNO traded down $0.42 during trading on Friday, reaching $54.59. The company had a trading volume of 98,792 shares, compared to its average volume of 694,700. Terreno Realty has a twelve month low of $50.42 and a twelve month high of $66.63. The firm has a market capitalization of $5.27 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.85. The firm’s fifty day moving average is $60.58 and its 200 day moving average is $59.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.68 and a current ratio of 2.68.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The business had revenue of $86.48 million for the quarter, compared to analyst estimates of $84.06 million. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. On average, equities analysts forecast that Terreno Realty will post 2.42 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays initiated coverage on Terreno Realty in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 price objective for the company. Scotiabank increased their target price on Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a research note on Monday, February 12th. Mizuho upped their target price on shares of Terreno Realty from $52.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. StockNews.com raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. Finally, Wedbush reiterated a “neutral” rating and issued a $67.00 price target on shares of Terreno Realty in a research note on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.11.

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.