Terreno Realty Corporation (NYSE:TRNO) Increases Dividend to $0.57 Per Share

Terreno Realty Corporation (NYSE:TRNO) declared a quarterly dividend on Wednesday, August 5th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.57 per share by the real estate investment trust on Friday, October 9th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 30th. This is a 9.6% increase from Terreno Realty’s previous quarterly dividend of $0.52.

Terreno Realty has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 5 years. Terreno Realty has a payout ratio of 123.1% meaning 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 $3.01 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 69.1%.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $69.56 on Thursday. Terreno Realty has a 12 month low of $53.00 and a 12 month high of $78.94. The firm has a market capitalization of $7.39 billion, a P/E ratio of 17.01 and a beta of 1.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The company’s fifty day moving average price is $68.25 and its 200 day moving average price is $65.66.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The company had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.17 million. As a group, sell-side analysts predict that Terreno Realty will post 2.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TRNO. State Street Corp lifted its holdings in shares of Terreno Realty by 4.0% during the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock worth $336,139,000 after purchasing an additional 230,444 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Terreno Realty by 246.6% in the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock valued at $257,257,000 after acquiring an additional 2,979,982 shares in the last quarter. Norges Bank acquired a new position in shares of Terreno Realty during the fourth quarter worth about $168,221,000. Geode Capital Management LLC increased its stake in shares of Terreno Realty by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock worth $159,620,000 after acquiring an additional 17,921 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Terreno Realty by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,078,910 shares of the real estate investment trust’s stock valued at $122,053,000 after purchasing an additional 72,909 shares during the period.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.