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

Key Points

• Bessemer Group Inc. increased its stake in Terreno Realty by 4.2% in the first quarter, bringing its holdings to 680,641 shares worth about $41.8 million.
• Terreno Realty reported strong quarterly results, posting earnings of $0.66 per share versus $0.30 expected, with revenue of $124.44 million slightly above estimates.
• The company recently paid a quarterly dividend of $0.52 per share, equal to an annualized yield of 2.8%, while analysts currently rate the stock a Moderate Buy with an average target price of $69.86.

Bessemer Group Inc. boosted its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 680,641 shares of the real estate investment trust's stock after purchasing an additional 27,624 shares during the period. Bessemer Group Inc. owned about 0.64% of Terreno Realty worth $41,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its holdings in shares of Terreno Realty by 13.8% in the first quarter. D.A. Davidson & CO. now owns 4,550 shares of the real estate investment trust's stock worth $279,000 after buying an additional 551 shares during the period. Principal Financial Group Inc. boosted its holdings in Terreno Realty by 246.6% during the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust's stock valued at $257,257,000 after acquiring an additional 2,979,982 shares during the period. Diversify Wealth Management LLC grew its position in Terreno Realty by 51.9% in the 1st quarter. Diversify Wealth Management LLC now owns 20,673 shares of the real estate investment trust's stock valued at $1,339,000 after acquiring an additional 7,060 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Terreno Realty by 22.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 71,795 shares of the real estate investment trust's stock valued at $4,410,000 after acquiring an additional 12,987 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in Terreno Realty by 20.8% in the first quarter. Hsbc Holdings PLC now owns 322,955 shares of the real estate investment trust's stock worth $19,839,000 after purchasing an additional 55,568 shares during the period.

Terreno Realty Trading Down 0.1%

Shares of NYSE:TRNO opened at $74.99 on Friday. The company has a market capitalization of $7.97 billion, a PE ratio of 18.34 and a beta of 1.05. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. Terreno Realty Corporation has a 12-month low of $53.00 and a 12-month high of $78.94. The business's fifty day simple moving average is $66.60 and its 200-day simple moving average is $64.45.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.36. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The firm had revenue of $124.44 million during the quarter, compared to analysts' expectations of $122.60 million. As a group, equities research analysts predict that Terreno Realty Corporation will post 2.81 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, June 26th. Terreno Realty's dividend payout ratio (DPR) is currently 50.86%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TRNO shares. UBS Group set a $68.00 target price on shares of Terreno Realty in a research note on Thursday, June 18th. Robert W. Baird set a $69.00 price target on shares of Terreno Realty in a research note on Friday, May 8th. Raymond James Financial initiated coverage on shares of Terreno Realty in a report on Wednesday, June 17th. They set an "underperform" rating for the company. Weiss Ratings raised shares of Terreno Realty from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, Barclays boosted their price objective on shares of Terreno Realty from $60.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Terreno Realty presently has an average rating of "Moderate Buy" and an average target price 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.

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