Terreno Realty Co. (TRNO) Announces $0.22 Quarterly Dividend

Terreno Realty Co. (NYSE:TRNO) announced a quarterly dividend on Thursday, February 8th, Wall Street Journal reports. Investors of record on Wednesday, March 28th will be given a dividend of 0.22 per share by the real estate investment trust on Thursday, April 12th. This represents a $0.88 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Tuesday, March 27th.

Terreno Realty has raised its dividend payment by an average of 14.9% annually over the last three years and has raised its dividend every year for the last 5 years. Terreno Realty has a dividend payout ratio of 80.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Terreno Realty to earn $1.24 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 71.0%.

Terreno Realty (TRNO) traded down $1.19 on Thursday, reaching $32.10. The company’s stock had a trading volume of 389,242 shares, compared to its average volume of 284,463. Terreno Realty has a 52 week low of $26.48 and a 52 week high of $38.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.87 and a quick ratio of 4.87. The stock has a market capitalization of $1,829.11, a price-to-earnings ratio of 41.69, a PEG ratio of 2.70 and a beta of 0.73.

Several equities analysts have issued reports on TRNO shares. BidaskClub lowered Terreno Realty from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 23rd. KeyCorp reiterated a “buy” rating and issued a $39.00 target price on shares of Terreno Realty in a research note on Sunday, November 5th. B. Riley reiterated a “neutral” rating on shares of Terreno Realty in a research note on Friday, November 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $41.00 target price (up previously from $37.00) on shares of Terreno Realty in a research note on Tuesday, November 7th. Finally, Zacks Investment Research lowered Terreno Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $38.40.

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About Terreno Realty

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.

Dividend History for Terreno Realty (NYSE:TRNO)

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