Bessemer Group Inc. Raises Position in Terreno Realty Corporation $TRNO

Bessemer Group Inc. lifted its holdings in Terreno Realty Corporation (NYSE:TRNO) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 680,641 shares of the real estate investment trust’s stock after purchasing an additional 27,624 shares during the quarter. Bessemer Group Inc.’s holdings in Terreno Realty were worth $41,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Terreno Realty by 4.0% in the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after buying an additional 230,444 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Terreno Realty by 246.6% during the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after acquiring an additional 2,979,982 shares during the last quarter. Norges Bank purchased a new stake in shares of Terreno Realty during the fourth quarter worth about $168,221,000. Geode Capital Management LLC increased its holdings in shares of Terreno Realty by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock valued at $159,620,000 after acquiring an additional 17,921 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Terreno Realty by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,078,910 shares of the real estate investment trust’s stock valued at $122,053,000 after acquiring an additional 72,909 shares in the last quarter.

Terreno Realty Trading Down 0.1%

Shares of Terreno Realty stock opened at $74.99 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a fifty day moving average price of $66.60 and a 200 day moving average price of $64.45. Terreno Realty Corporation has a 1 year low of $53.00 and a 1 year high of $78.94. The stock has a market cap of $7.97 billion, a PE ratio of 18.34 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate of $0.30 by $0.36. The company had revenue of $124.44 million for the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. Equities research analysts predict that Terreno Realty Corporation will post 2.81 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, June 26th. Terreno Realty’s payout ratio is 50.86%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRNO. Wells Fargo & Company dropped their target price on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Scotiabank decreased their price target on shares of Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a report on Thursday, June 18th. Weiss Ratings upgraded shares of Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Raymond James Financial initiated coverage on shares of Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. Finally, Robert W. Baird set a $69.00 target price on Terreno Realty in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Terreno Realty currently has an average rating of “Moderate Buy” and a consensus price target of $69.86.

About Terreno Realty

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.