90,257 Shares in Tejon Ranch Co $TRC Acquired by Almitas Capital LLC

Key Points

• Almitas Capital LLC acquired 90,257 Tejon Ranch shares during the second quarter, worth approximately $1.69 million and representing a 0.33% stake.
• Institutional ownership remains significant at 60.63%, with firms including Vanguard, BlackRock, Nitor Capital Management, Gamco Investors and Lee Danner & Bass recently buying or increasing positions.
• Tejon Ranch received a “Hold” rating after Weiss Ratings upgraded it from “Sell.” The company beat quarterly expectations, reporting $0.10 earnings per share versus $0.02 expected and revenue of $14.26 million versus $8.64 million estimated.

Almitas Capital LLC bought a new position in Tejon Ranch Co (NYSE:TRC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 90,257 shares of the real estate development and agribusiness company's stock, valued at approximately $1,688,000. Almitas Capital LLC owned 0.33% of Tejon Ranch as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Tejon Ranch by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,138,314 shares of the real estate development and agribusiness company's stock worth $34,170,000 after buying an additional 14,767 shares during the last quarter. Nitor Capital Management LLC purchased a new position in shares of Tejon Ranch during the 2nd quarter worth about $33,640,000. BlackRock Inc. purchased a new position in shares of Tejon Ranch during the 2nd quarter worth about $30,383,000. Gamco Investors INC. ET AL boosted its position in shares of Tejon Ranch by 0.7% in the first quarter. Gamco Investors INC. ET AL now owns 737,939 shares of the real estate development and agribusiness company's stock worth $13,903,000 after acquiring an additional 5,113 shares during the last quarter. Finally, Lee Danner & Bass Inc. boosted its position in shares of Tejon Ranch by 1,109.4% in the first quarter. Lee Danner & Bass Inc. now owns 695,425 shares of the real estate development and agribusiness company's stock worth $13,102,000 after acquiring an additional 637,925 shares during the last quarter. 60.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Tejon Ranch from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Tejon Ranch presently has an average rating of "Hold".

Tejon Ranch Stock Performance

Shares of TRC stock opened at $16.13 on Friday. The company's fifty day simple moving average is $17.54 and its 200-day simple moving average is $18.37. Tejon Ranch Co has a 52 week low of $15.31 and a 52 week high of $21.31. The company has a current ratio of 2.92, a quick ratio of 2.06 and a debt-to-equity ratio of 0.19. The company has a market cap of $435.86 million, a PE ratio of 70.13 and a beta of 0.59.

Tejon Ranch (NYSE:TRC - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The real estate development and agribusiness company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. Tejon Ranch had a net margin of 10.62% and a return on equity of 1.23%. The firm had revenue of $14.26 million during the quarter, compared to analysts' expectations of $8.64 million. As a group, equities research analysts anticipate that Tejon Ranch Co will post 0.11 EPS for the current year.

About Tejon Ranch

Tejon Ranch Corporation NYSE: TRC is one of California's largest private landowners, with a diversified portfolio spanning agriculture, real estate development and natural resource operations. Headquartered in Lebec, California, the company's holdings encompass approximately 270,000 acres in Kern and Los Angeles counties. Established in 1937 on the historic Rancho Tejon land grant, Tejon Ranch has leveraged its strategic location along Interstate 5 to build a multifaceted enterprise serving both local and regional markets.

In agriculture, Tejon Ranch grows a variety of row crops and permanent plantings, including almonds, pistachios, table grapes and citrus.

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