Bessemer Group Inc. Grows Stock Holdings in Terreno Realty Co. (NYSE:TRNO)

Bessemer Group Inc. raised its holdings in Terreno Realty Co. (NYSE:TRNO - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.45% of Terreno Realty worth $26,322,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TRNO. Manchester Capital Management LLC acquired a new stake in shares of Terreno Realty during the 4th quarter valued at $27,000. Steward Partners Investment Advisory LLC raised its stake in shares of Terreno Realty by 176.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 361 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Terreno Realty by 94.6% in the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 370 shares during the period. FIL Ltd raised its position in Terreno Realty by 45.3% during the 4th quarter. FIL Ltd now owns 1,213 shares of the real estate investment trust's stock worth $72,000 after purchasing an additional 378 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Terreno Realty during the fourth quarter worth about $76,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TRNO shares. Piper Sandler lowered their target price on shares of Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday. Barclays dropped their price target on Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. JMP Securities reaffirmed a "market outperform" rating and set a $72.00 price objective on shares of Terreno Realty in a research report on Monday, February 10th. BMO Capital Markets increased their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $60.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $66.45.

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Terreno Realty Price Performance

Shares of Terreno Realty stock traded up $0.21 on Tuesday, hitting $55.90. 899,042 shares of the company traded hands, compared to its average volume of 946,018. Terreno Realty Co. has a 12-month low of $48.18 and a 12-month high of $71.63. The firm's 50-day simple moving average is $63.90 and its 200 day simple moving average is $62.54. The company has a market cap of $5.76 billion, a P/E ratio of 29.12, a P/E/G ratio of 2.82 and a beta of 1.00. 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 (NYSE:TRNO - Get Free Report) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 3.51%. Terreno Realty's payout ratio is 102.08%.

Terreno Realty 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.