Terreno Realty Corporation (TRNO) Declares $0.22 Quarterly Dividend
Terreno Realty Corporation (NYSE:TRNO) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Stockholders of record on Friday, December 29th will be given a dividend of 0.22 per share by the real estate investment trust on Friday, January 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, December 28th.
Terreno Realty Corporation has raised its dividend by an average of 14.0% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Terreno Realty Corporation has a dividend payout ratio of 77.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Terreno Realty Corporation to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 69.8%.
Terreno Realty Corporation (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $32.78 million for the quarter, compared to the consensus estimate of $31.72 million. Terreno Realty Corporation had a return on equity of 3.13% and a net margin of 20.91%.
Several research firms have recently weighed in on TRNO. Stifel Nicolaus reiterated a “buy” rating and set a $37.00 price target (up previously from $34.50) on shares of Terreno Realty Corporation in a research note on Wednesday, August 9th. BTIG Research reiterated a “buy” rating and set a $39.00 price target (up previously from $35.00) on shares of Terreno Realty Corporation in a research note on Wednesday, September 27th. FBR & Co reiterated a “neutral” rating and set a $39.00 price target on shares of Terreno Realty Corporation in a research note on Tuesday, October 3rd. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 price target on shares of Terreno Realty Corporation in a research note on Tuesday, October 3rd. Finally, BidaskClub upgraded Terreno Realty Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $35.29.
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About Terreno Realty Corporation
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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