Terreno Realty (NYSE:TRNO) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

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

Terreno Realty Stock Up 1.0 %

Shares of TRNO stock traded up $0.67 during mid-day trading on Wednesday, hitting $66.67. The company’s stock had a trading volume of 470,593 shares, compared to its average volume of 842,856. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 2.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71. Terreno Realty has a 52-week low of $53.78 and a 52-week high of $71.63. The business has a 50-day moving average price of $61.18 and a 200 day moving average price of $64.07.

Terreno Realty Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on TRNO shares. Barclays restated an “equal weight” rating and issued a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Scotiabank dropped their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, October 25th. StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. JMP Securities reissued a “market outperform” rating and set a $72.00 price objective on shares of Terreno Realty in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Terreno Realty presently has a consensus rating of “Hold” and a consensus target price 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.