Terreno Realty (NYSE:TRNO) Issues Earnings Results, Beats Estimates By $0.24 EPS

Terreno Realty (NYSE:TRNO) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24, Zacks reports. Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%.

Terreno Realty Trading Up 1.0 %

Shares of NYSE:TRNO traded up $0.67 during mid-day trading on Wednesday, reaching $66.67. The stock had a trading volume of 470,593 shares, compared to its average volume of 842,856. Terreno Realty has a twelve month low of $53.78 and a twelve month high of $71.63. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. The firm has a market cap of $6.65 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. The firm has a 50 day simple moving average of $61.18 and a two-hundred day simple moving average of $64.07.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.94%. Terreno Realty’s dividend payout ratio is currently 107.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TRNO shares. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research report on Monday, January 6th. BMO Capital Markets started coverage on Terreno Realty in a report on Tuesday. They issued a “market perform” rating and a $71.00 price objective for the company. Scotiabank cut their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, October 25th. Barclays restated an “equal weight” rating and issued a $60.00 price target (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $67.82.

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.