Terreno Realty Corporation (TRNO) to Issue Quarterly Dividend of $0.49 on July 11th

Terreno Realty Corporation (NYSE:TRNO) announced a quarterly dividend on Thursday, May 8th, Wall Street Journal reports. Shareholders of record on Friday, June 27th will be paid a dividend of 0.49 per share by the real estate investment trust on Friday, July 11th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, June 27th.

Terreno Realty has a payout ratio of 116.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 0.9%

Shares of NYSE:TRNO opened at $58.74 on Wednesday. Terreno Realty has a twelve month low of $48.18 and a twelve month high of $71.63. The firm has a market cap of $6.07 billion, a P/E ratio of 29.52, a P/E/G ratio of 2.48 and a beta of 1.07. The company has a 50 day moving average of $57.43 and a 200-day moving average of $60.87. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.20.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Terreno Realty from $67.00 to $63.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. Scotiabank reduced their price target on shares of Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Barclays decreased their price objective on Terreno Realty from $57.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 27th. Piper Sandler cut their price target on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.00.

Institutional Trading of Terreno Realty

An institutional investor recently raised its position in Terreno Realty stock. Jones Financial Companies Lllp raised its holdings in shares of Terreno Realty Corporation (NYSE:TRNO) by 90.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 797 shares of the real estate investment trust’s stock after purchasing an additional 378 shares during the period. Jones Financial Companies Lllp’s holdings in Terreno Realty were worth $50,000 at the end of the most recent quarter.

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.