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

Terreno Realty Co. (NYSE:TRNO) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Investors of record on Thursday, March 27th will be given 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% annually over the last three years. Terreno Realty has a dividend payout ratio of 117.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Up 1.0 %

TRNO opened at $66.67 on Thursday. The firm has a market capitalization of $6.65 billion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. Terreno Realty has a one year low of $53.78 and a one year high of $71.63. The company has a fifty day moving average price of $61.18 and a 200-day moving average price of $64.07. 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 (NYSE:TRNO) last released its quarterly earnings results 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 4.94% and a net margin of 45.37%. Equities research analysts expect that Terreno Realty will post 2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TRNO shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target for the company. Scotiabank lowered their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, October 25th. BMO Capital Markets started coverage on Terreno Realty in a report on Tuesday. They issued a “market perform” rating and a $71.00 price objective for the company. StockNews.com cut Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Finally, Barclays reissued 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.82.

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.