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

by · The Cerbat Gem

Terreno Realty Co. (NYSE:TRNO – Get Free Report) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Friday, December 13th will be paid a dividend of 0.49 per share by the real estate investment trust on Tuesday, January 7th. This represents a $1.96 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Friday, December 13th.

Terreno Realty has increased its dividend by an average of 14.9% per year over the last three years. Terreno Realty has a dividend payout ratio of 119.5% 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 $2.65 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 74.0%.

Terreno Realty Stock Performance

TRNO stock traded up $0.64 during trading on Thursday, hitting $60.37. 943,995 shares of the company traded hands, compared to its average volume of 707,680. The stock’s 50-day simple moving average is $65.60 and its 200 day simple moving average is $62.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market cap of $5.85 billion, a PE ratio of 33.00, a P/E/G ratio of 2.80 and a beta of 0.90. Terreno Realty has a 1 year low of $53.23 and a 1 year high of $71.63.

Terreno Realty (NYSE:TRNO – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. The company had revenue of $94.25 million for the quarter, compared to analysts’ expectations of $89.07 million. On average, equities analysts expect that Terreno Realty will post 2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Terreno Realty news, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the sale, the chief financial officer now owns 101,927 shares in the company, valued at $6,970,787.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP John Tull Meyer sold 6,145 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the sale, the executive vice president now owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jaime Jackson Cannon sold 4,998 shares of Terreno Realty stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the transaction, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,643 shares of company stock worth $1,277,581 in the last quarter. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

TRNO has been the topic of several research analyst reports. Mizuho reissued an “underperform” rating and issued a $62.00 price objective on shares of Terreno Realty in a report on Thursday, September 5th. Wolfe Research raised Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. StockNews.com lowered Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Wells Fargo & Company downgraded Terreno Realty from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $71.00 to $75.00 in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group boosted their price objective on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.22.

View Our Latest Analysis on Terreno Realty

Terreno Realty Company Profile

(Get Free Report)

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.

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