BELLEVUE, Wash. - Terreno Realty Corporation (NYSE: NYSE:TRNO), known for its ownership and operation of industrial real estate in key U.S. coastal markets, has announced a quarterly cash dividend of $0.45 per common share. This dividend is for the quarter ending June 30, 2024, and is payable to stockholders of record by June 28, 2024, with the payment date set for July 12, 2024.
In addition to the dividend announcement, Terreno Realty has filed its quarterly report on Form 10-Q for the quarter ended March 31, 2024, with the U.S. Securities and Exchange Commission. The report, which includes the company's financial statements and supplemental financial information, can be accessed through the Investors & Media section of Terreno Realty's website.
Terreno Realty's portfolio is strategically located in six major coastal U.S. markets, namely Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. These markets are known for their high demand for industrial real estate, driven by factors such as trade, transportation, and e-commerce.
The press release also contained forward-looking statements, which are based on current management beliefs and assumptions. These statements are not guarantees of future performance and may be affected by risks and uncertainties. The company cautions that changes in market conditions or other factors could cause actual results to differ materially from those projected in any forward-looking statements.
InvestingPro Insights
As Terreno Realty Corporation (NYSE: TRNO) continues to navigate the competitive landscape of industrial real estate in prime U.S. coastal markets, the company's financial health and market performance are key indicators for investors. According to real-time data from InvestingPro, Terreno Realty boasts a robust market capitalization of $5.26 billion, indicating a strong presence in the sector. The company's dedication to shareholder returns is evident, with a dividend yield of 3.28% as of the last recorded date and a notable track record of increasing its dividend for 10 consecutive years, showcasing a commitment to consistent shareholder value.
InvestingPro data also highlights a significant gross profit margin of 75.56% over the last twelve months as of Q4 2023, reflecting efficient operations and a strong grasp on cost management. However, investors should be mindful of the company's earnings multiple, with a P/E ratio of 30.07 and an adjusted P/E ratio of 46.54 for the same period, signaling a high valuation that may warrant a closer examination of the company's growth prospects and future earnings potential.
For those looking to delve deeper into Terreno Realty's performance metrics and strategic positioning, InvestingPro offers additional insights. There are 11 more InvestingPro Tips available for TRNO, including analyses on debt levels, profitability, and return on investment over the last decade. Savvy investors can take advantage of these insights by visiting https://www.investing.com/pro/TRNO and using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the next earnings date approaching on May 8, 2024, and analysts predicting profitability for the year, Terreno Realty appears to maintain a promising outlook. However, it is crucial for investors to stay informed and consider all facets of the company's financial health and market performance before making investment decisions.
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