Terreno Realty Corporation (NYSE:TRNO) declared a quarterly dividend on Thursday, May 4th, Wall Street Journal reports. Stockholders of record on Friday, July 7th will be given a dividend of 0.20 per share by the real estate investment trust on Friday, July 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Wednesday, July 5th.
Terreno Realty Corporation has increased its dividend payment by an average of 14.0% annually over the last three years and has increased its dividend every year for the last 4 years. Terreno Realty Corporation has a dividend payout ratio of 69.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Terreno Realty Corporation to earn $1.23 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 65.0%.
Terreno Realty Corporation (NYSE TRNO) traded down 0.49% during midday trading on Friday, reaching $34.26. The company had a trading volume of 149,804 shares. Terreno Realty Corporation has a one year low of $24.81 and a one year high of $34.86. The stock’s 50 day moving average price is $33.39 and its 200-day moving average price is $30.22. The firm has a market capitalization of $1.69 billion, a P/E ratio of 159.35 and a beta of 0.82.
Terreno Realty Corporation (NYSE:TRNO) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.17. The company had revenue of $31.44 million during the quarter, compared to the consensus estimate of $30.76 million. Terreno Realty Corporation had a net margin of 11.02% and a return on equity of 1.64%. On average, equities research analysts anticipate that Terreno Realty Corporation will post $0.43 earnings per share for the current year.
Several research firms have weighed in on TRNO. BidaskClub cut shares of Terreno Realty Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $34.50 price target on shares of Terreno Realty Corporation in a report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and issued a $35.00 price target (up from $29.00) on shares of Terreno Realty Corporation in a report on Friday, June 23rd. Zacks Investment Research raised shares of Terreno Realty Corporation from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Finally, Wunderlich increased their price target on shares of Terreno Realty Corporation from $31.00 to $34.00 and gave the company a “buy” rating in a report on Monday, May 8th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Terreno Realty Corporation currently has an average rating of “Hold” and an average target price of $31.81.
Terreno Realty Corporation Company Profile
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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