Terreno Realty Corporation (TRNO) to Distribute Quarterly Dividend of $0.57 on January 8th

Terreno Realty Corporation (NYSE:TRNO) declared a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.57 per share by the real estate investment trust on Friday, January 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, December 15th.

Terreno Realty has raised its dividend payment 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 134.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Terreno Realty to earn $3.08 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 74.0%.

Terreno Realty Stock Up 2.0%

Shares of NYSE:TRNO opened at $68.01 on Thursday. The firm has a market capitalization of $7.41 billion, a P/E ratio of 18.23 and a beta of 0.98. The stock has a 50 day moving average price of $65.53 and a 200-day moving average price of $65.85. Terreno Realty has a 52-week low of $57.71 and a 52-week high of $78.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.27. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The company had revenue of $132.23 million for the quarter, compared to analysts’ expectations of $128.72 million. As a group, equities research analysts anticipate that Terreno Realty will post 2.84 EPS for the current fiscal year.

Insider Activity

In related news, EVP John Meyer sold 4,447 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the sale, the executive vice president directly owned 131,825 shares in the company, valued at approximately $9,048,468. This represents a 3.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael A. Coke sold 8,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the sale, the president directly owned 425,381 shares of the company’s stock, valued at $29,087,552.78. This trade represents a 1.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TRNO. BlackRock Inc. bought a new stake in shares of Terreno Realty during the second quarter worth $1,213,726,000. Principal Financial Group Inc. grew its stake 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. Resolution Capital Ltd raised its position in Terreno Realty by 6.7% during the first quarter. Resolution Capital Ltd now owns 1,623,857 shares of the real estate investment trust’s stock valued at $99,737,000 after purchasing an additional 101,709 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Terreno Realty by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,584,304 shares of the real estate investment trust’s stock worth $97,306,000 after acquiring an additional 36,955 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Terreno Realty in the 2nd quarter worth approximately $61,764,000.

About Terreno Realty

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno’s portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.