Terreno Realty Co. (TRNO) To Go Ex-Dividend on March 27th

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

Terreno Realty has raised its dividend payment by an average of 12.8% per year 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. Equities 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 Stock Up 2.3 %

Shares of NYSE TRNO opened at $64.10 on Tuesday. The firm has a 50 day moving average price of $65.89 and a 200 day moving average price of $63.75. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The stock 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. Terreno Realty has a 52-week low of $53.78 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating 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%. Analysts expect that Terreno Realty will post 2.64 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on TRNO. Barclays reaffirmed an “equal weight” rating and set a $60.00 price target (down previously from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research note on Monday, February 10th. Scotiabank boosted their price target on shares of Terreno Realty from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Friday, February 28th. Finally, BMO Capital Markets raised their price objective on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.