Tejon Ranch Co. (NYSE:TRC – Free Report) – Research analysts at Zacks Small Cap increased their FY2023 earnings per share estimates for shares of Tejon Ranch in a research note issued on Wednesday, November 15th. Zacks Small Cap analyst M. Marin now expects that the real estate development and agribusiness company will post earnings per share of $0.05 for the year, up from their prior estimate of $0.04. The consensus estimate for Tejon Ranch’s current full-year earnings is $0.04 per share. Zacks Small Cap also issued estimates for Tejon Ranch’s FY2024 earnings at $0.10 EPS.
Separately, StockNews.com downgraded Tejon Ranch from a “hold” rating to a “sell” rating in a research report on Friday, September 29th.
Tejon Ranch Stock Up 1.2 %
Shares of TRC stock opened at $16.50 on Monday. The stock’s 50 day simple moving average is $16.04 and its 200 day simple moving average is $16.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.41 and a current ratio of 4.90. Tejon Ranch has a twelve month low of $15.25 and a twelve month high of $20.65. The company has a market capitalization of $441.05 million, a price-to-earnings ratio of 117.86 and a beta of 0.68.
Insiders Place Their Bets
In other news, major shareholder Towerview Llc acquired 7,785 shares of the stock in a transaction dated Tuesday, September 26th. The shares were acquired at an average cost of $15.86 per share, for a total transaction of $123,470.10. Following the completion of the transaction, the insider now owns 3,840,612 shares in the company, valued at approximately $60,912,106.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.44% of the company’s stock.
Institutional Trading of Tejon Ranch
A number of institutional investors and hedge funds have recently modified their holdings of TRC. Assenagon Asset Management S.A. boosted its stake in Tejon Ranch by 78.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 23,572 shares of the real estate development and agribusiness company’s stock valued at $406,000 after buying an additional 10,349 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Tejon Ranch by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 337,205 shares of the real estate development and agribusiness company’s stock worth $5,469,000 after purchasing an additional 1,024 shares in the last quarter. Towerview LLC boosted its stake in Tejon Ranch by 0.3% in the third quarter. Towerview LLC now owns 3,845,500 shares of the real estate development and agribusiness company’s stock worth $62,374,000 after purchasing an additional 12,673 shares in the last quarter. SG Americas Securities LLC acquired a new position in Tejon Ranch in the third quarter worth $154,000. Finally, Levin Capital Strategies L.P. boosted its stake in Tejon Ranch by 36.3% in the third quarter. Levin Capital Strategies L.P. now owns 71,441 shares of the real estate development and agribusiness company’s stock worth $1,159,000 after purchasing an additional 19,020 shares in the last quarter. 60.87% of the stock is currently owned by institutional investors.
Tejon Ranch Company Profile
Tejon Ranch Co, together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, Farming, and Ranch Operations. The Commercial/Industrial Real Estate Development segment engages in the planning and permitting of land for development; construction of infrastructure projects, pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.
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