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

Terreno Realty (NYSE:TRNO) announced its earnings results on Wednesday. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24), Zacks reports. The business had revenue of $99.64 million during the quarter, compared to the consensus estimate of $96.31 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%.

Terreno Realty Trading Up 2.6 %

TRNO stock traded up $1.58 on Friday, reaching $62.00. The company’s stock had a trading volume of 769,245 shares, compared to its average volume of 709,786. The firm has a market cap of $6.18 billion, a PE ratio of 34.07, a PEG ratio of 2.76 and a beta of 0.90. The business has a fifty day simple moving average of $65.30 and a two-hundred day simple moving average of $62.69. Terreno Realty has a 12-month low of $53.23 and a 12-month high of $71.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.49 per share. The ex-dividend date is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.16%. Terreno Realty’s dividend payout ratio (DPR) is presently 107.69%.

Wall Street Analyst Weigh In

TRNO has been the subject of several research analyst reports. JMP Securities lifted their target price on shares of Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 13th. StockNews.com cut Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Wedbush reiterated a “neutral” rating and issued a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. Mizuho reissued an “underperform” rating and set a $62.00 price objective on shares of Terreno Realty in a report on Thursday, September 5th. Finally, Wells Fargo & Company lowered Terreno Realty from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $71.00 to $75.00 in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.22.

Terreno Realty Company Profile

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.