Bessemer Group Inc. Acquires 96,974 Shares of Terreno Realty Co. (NYSE:TRNO)

Bessemer Group Inc. raised its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 27.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 445,054 shares of the real estate investment trust’s stock after acquiring an additional 96,974 shares during the period. Bessemer Group Inc. owned approximately 0.45% of Terreno Realty worth $26,322,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Terreno Realty by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after purchasing an additional 1,484,301 shares during the last quarter. FMR LLC increased its stake in shares of Terreno Realty by 5.9% in the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust’s stock valued at $663,987,000 after acquiring an additional 628,116 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Terreno Realty by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust’s stock valued at $144,031,000 after acquiring an additional 19,900 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Terreno Realty by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust’s stock worth $108,729,000 after acquiring an additional 110,610 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Terreno Realty by 1.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust’s stock valued at $76,183,000 after purchasing an additional 14,995 shares during the period.

Terreno Realty Stock Down 3.3 %

Shares of TRNO stock opened at $53.99 on Friday. The firm’s fifty day moving average price is $64.35 and its two-hundred day moving average price is $62.75. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a 1 year low of $48.18 and a 1 year high of $71.63. The firm has a market capitalization of $5.56 billion, a P/E ratio of 28.12, a PEG ratio of 2.82 and a beta of 1.00.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, equities analysts predict that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, March 27th. Terreno Realty’s payout ratio is presently 102.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TRNO. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Scotiabank lowered their price target on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday. Barclays cut their price objective on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 25th. Piper Sandler cut Terreno Realty from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $78.00 to $61.00 in a research note on Monday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $66.55.

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.