Terreno Realty Corporation $TRNO Shares Acquired by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Terreno Realty position by 29.5% in the third quarter, adding 34,054 shares to hold 149,308 shares worth approximately $9.64 million.
• Analysts have a consensus “Moderate Buy” rating on TRNO, with an average price target of $73.50; 11 of 15 analysts rate it Buy or Strong Buy.
• Terreno reported quarterly EPS of $0.54, beating the $0.41 consensus estimate, while revenue of $124.71 million fell short of expectations. Two executives also reported stock sales in August.

ProShare Advisors LLC raised its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 29.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,308 shares of the real estate investment trust's stock after purchasing an additional 34,054 shares during the quarter. ProShare Advisors LLC owned 0.14% of Terreno Realty worth $9,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC acquired a new position in shares of Terreno Realty during the second quarter worth about $28,000. EverSource Wealth Advisors LLC grew its holdings in Terreno Realty by 57.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Terreno Realty during the second quarter valued at about $30,000. Quantbot Technologies LP purchased a new stake in Terreno Realty during the 2nd quarter worth approximately $53,000. Finally, GK Wealth Management LLC bought a new stake in shares of Terreno Realty in the third quarter worth $62,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BMO Capital Markets raised Terreno Realty from a "market perform" rating to an "outperform" rating and set a $75.00 price objective for the company in a report on Monday, October 12th. The Goldman Sachs Group lifted their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Piper Sandler dropped their price target on Terreno Realty from $91.00 to $85.00 and set an "overweight" rating on the stock in a research report on Monday, October 12th. Wells Fargo & Company lifted their price objective on shares of Terreno Realty from $64.00 to $70.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 1st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $74.00 target price on shares of Terreno Realty in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $73.50.

Terreno Realty Stock Performance

Terreno Realty stock opened at $66.72 on Wednesday. Terreno Realty Corporation has a fifty-two week low of $57.35 and a fifty-two week high of $78.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $7.27 billion, a P/E ratio of 23.18 and a beta of 0.98. The firm's 50 day simple moving average is $65.54 and its 200-day simple moving average is $65.81.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. The company had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. As a group, equities research analysts predict that Terreno Realty Corporation will post 2.84 EPS for the current year.

Insiders Place Their Bets

In related news, EVP John Meyer sold 4,447 shares of Terreno Realty stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the sale, the executive vice president owned 131,825 shares of the company's stock, valued at approximately $9,048,468. The trade was a 3.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Coke sold 8,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the sale, the president directly owned 425,381 shares of the company's stock, valued at $29,087,552.78. The trade was a 1.85% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by company insiders.

Terreno Realty Profile

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno's portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.

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