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

Bessemer Group Inc. boosted its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 4.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 464,691 shares of the real estate investment trust's stock after acquiring an additional 19,637 shares during the quarter. Bessemer Group Inc. owned 0.45% of Terreno Realty worth $29,379,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Terreno Realty by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock worth $902,293,000 after acquiring an additional 1,484,301 shares during the period. Deutsche Bank AG increased its holdings in Terreno Realty by 287.6% during the 4th quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust's stock worth $91,454,000 after purchasing an additional 1,147,404 shares during the period. Norges Bank acquired a new stake in Terreno Realty in the 4th quarter valued at about $58,818,000. FMR LLC boosted 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 buying an additional 628,116 shares during the period. Finally, Northern Trust Corp grew its position in shares of Terreno Realty by 51.6% during the fourth quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock worth $109,150,000 after buying an additional 628,065 shares in the last quarter.

Terreno Realty Stock Performance

NYSE:TRNO traded down $0.29 during mid-day trading on Friday, reaching $56.21. 2,062,541 shares of the stock were exchanged, compared to its average volume of 943,380. The stock has a market capitalization of $5.81 billion, a P/E ratio of 28.25, a P/E/G ratio of 2.41 and a beta of 1.07. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $71.63. The company has a 50 day simple moving average of $57.40 and a 200-day simple moving average of $60.79. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.20.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, June 27th. Terreno Realty's dividend payout ratio (DPR) is presently 98.49%.

Analyst Ratings Changes

Several brokerages recently weighed in on TRNO. Wells Fargo & Company reduced their target price on shares of Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Scotiabank reduced their price objective on shares of Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays cut their price target on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. Finally, Piper Sandler lowered their price objective on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $65.00.

Terreno Realty Company 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.