Terreno Realty Corporation (NYSE:TRNO) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Investors of record on Friday, December 29th will be paid 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 yield of 2.33%. The ex-dividend date of this dividend is Thursday, December 28th.
Terreno Realty Corporation has raised its dividend payment by an average of 14.0% annually over the last three years and has raised its dividend every year for the last 4 years. Terreno Realty Corporation has a dividend payout ratio of 77.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Terreno Realty Corporation had a net margin of 33.00% and a return on equity of 5.07%. The business had revenue of $32.78 million during the quarter, compared to analysts’ expectations of $31.72 million.
A number of research analysts have recently commented on the stock. Jefferies Group LLC restated a “hold” rating and set a $34.00 price target on shares of Terreno Realty Corporation in a research report on Tuesday, October 3rd. FBR & Co restated a “neutral” rating and set a $39.00 price target on shares of Terreno Realty Corporation in a research report on Tuesday, October 3rd. KeyCorp restated a “buy” rating on shares of Terreno Realty Corporation in a research report on Wednesday, September 6th. BTIG Research restated a “buy” rating and set a $39.00 price target (up from $35.00) on shares of Terreno Realty Corporation in a research report on Wednesday, September 27th. Finally, BidaskClub lowered shares of Terreno Realty Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 23rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $35.29.
Terreno Realty Corporation Company Profile
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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