BlackRock Inc. Purchases Shares of 1,624,752 Tejon Ranch Co $TRC

Key Points

• BlackRock acquired 1,624,752 Tejon Ranch shares worth approximately $30.4 million, giving it a 6.02% stake. Institutional investors collectively own 60.63% of the company.
• Tejon Ranch reported quarterly EPS of $0.10, beating the $0.02 consensus estimate, while revenue reached $14.26 million versus analyst expectations of $8.64 million.
• TRC shares opened at $16.12, near the lower end of their 52-week range, and the stock carries a consensus “Hold” rating after Weiss Ratings upgraded it from “Sell” to “Hold.”

BlackRock Inc. acquired a new position in Tejon Ranch Co (NYSE:TRC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,624,752 shares of the real estate development and agribusiness company's stock, valued at approximately $30,383,000. BlackRock Inc. owned approximately 6.02% of Tejon Ranch at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in shares of Tejon Ranch by 59.8% during the second quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company's stock valued at $37,000 after buying an additional 823 shares during the last quarter. Cibc World Market Inc. increased its holdings in shares of Tejon Ranch by 1.0% in the fourth quarter. Cibc World Market Inc. now owns 102,150 shares of the real estate development and agribusiness company's stock worth $1,611,000 after buying an additional 1,000 shares during the period. Rhumbline Advisers lifted its stake in shares of Tejon Ranch by 3.1% in the 2nd quarter. Rhumbline Advisers now owns 33,448 shares of the real estate development and agribusiness company's stock valued at $567,000 after acquiring an additional 1,018 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Tejon Ranch by 6.1% in the 3rd quarter. Alliancebernstein L.P. now owns 21,022 shares of the real estate development and agribusiness company's stock valued at $336,000 after acquiring an additional 1,200 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Tejon Ranch by 11.8% during the 4th quarter. AQR Capital Management LLC now owns 11,970 shares of the real estate development and agribusiness company's stock valued at $189,000 after acquiring an additional 1,265 shares during the period. 60.63% of the stock is currently owned by institutional investors.

Tejon Ranch Price Performance

Shares of NYSE TRC opened at $16.12 on Wednesday. Tejon Ranch Co has a 1 year low of $15.31 and a 1 year high of $21.31. The stock has a market capitalization of $435.56 million, a P/E ratio of 70.09 and a beta of 0.57. The company's 50-day moving average is $17.39 and its 200 day moving average is $18.36. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.92 and a quick ratio of 2.06.

Tejon Ranch (NYSE:TRC - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The real estate development and agribusiness company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08. Tejon Ranch had a net margin of 10.62% and a return on equity of 1.23%. The business had revenue of $14.26 million during the quarter, compared to analyst estimates of $8.64 million. On average, sell-side analysts expect that Tejon Ranch Co will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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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