Bessemer Group Inc. Buys 79,964 Shares of Terreno Realty Corporation $TRNO

Bessemer Group Inc. raised its stake in shares of Terreno Realty Corporation (NYSE:TRNO) by 16.5% in the 3rd quarter, Holdings Channel reports. The firm owned 564,695 shares of the real estate investment trust’s stock after acquiring an additional 79,964 shares during the period. Bessemer Group Inc.’s holdings in Terreno Realty were worth $32,046,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Terreno Realty in the second quarter worth about $156,525,000. Osterweis Capital Management Inc. bought a new stake in Terreno Realty in the 2nd quarter worth approximately $33,699,000. Boston Trust Walden Corp purchased a new stake in shares of Terreno Realty during the 3rd quarter worth approximately $26,957,000. Schroder Investment Management Group boosted its position in shares of Terreno Realty by 55.7% during the 2nd quarter. Schroder Investment Management Group now owns 1,131,989 shares of the real estate investment trust’s stock valued at $63,471,000 after acquiring an additional 405,015 shares during the last quarter. Finally, Hudson Bay Capital Management LP grew its holdings in shares of Terreno Realty by 359.3% in the second quarter. Hudson Bay Capital Management LP now owns 390,919 shares of the real estate investment trust’s stock valued at $21,919,000 after purchasing an additional 305,806 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRNO. Scotiabank upped their price target on shares of Terreno Realty from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Mizuho upped their target price on shares of Terreno Realty from $53.00 to $56.00 and gave the company an “underperform” rating in a research report on Thursday, December 4th. KeyCorp reiterated an “overweight” rating on shares of Terreno Realty in a research report on Wednesday, January 14th. Piper Sandler raised Terreno Realty from a “neutral” rating to an “overweight” rating and set a $75.00 price objective on the stock in a research note on Monday, November 10th. Finally, Barclays reaffirmed a “positive” rating and issued a $60.00 price objective on shares of Terreno Realty in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $65.17 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. Terreno Realty Corporation has a 12 month low of $48.18 and a 12 month high of $69.20. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.59 and a beta of 1.13. The firm’s 50-day moving average is $61.08 and its 200 day moving average is $59.12.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.34. The business had revenue of $116.25 million during the quarter, compared to analyst estimates of $114.62 million. Terreno Realty had a return on equity of 8.27% and a net margin of 72.41%. Research analysts predict that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, March 27th. Terreno Realty’s dividend payout ratio is 66.03%.

Terreno Realty Profile

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.