CenterBook Partners LP Has $2.30 Million Stake in Tejon Ranch Co (NYSE:TRC)

Key Points

• CenterBook Partners LP increased its stake in Tejon Ranch Co by 117.4%, now owning 145,039 shares valued at approximately $2.30 million.
• Institutional investors control 60.63% of Tejon Ranch's stock, with several hedge funds making significant adjustments to their holdings in the company.
• Tejon Ranch reported a loss of $0.05 earnings per share for the last quarter, missing analyst estimates, despite achieving revenues of $8.21 million that surpassed expectations.

CenterBook Partners LP raised its position in Tejon Ranch Co (NYSE:TRC - Free Report) by 117.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,039 shares of the real estate development and agribusiness company's stock after purchasing an additional 78,339 shares during the quarter. CenterBook Partners LP owned 0.54% of Tejon Ranch worth $2,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. grew its holdings in shares of Tejon Ranch by 86,300.0% in the 1st quarter. NBC Securities Inc. now owns 1,728 shares of the real estate development and agribusiness company's stock valued at $27,000 after acquiring an additional 1,726 shares in the last quarter. Versant Capital Management Inc bought a new position in Tejon Ranch during the first quarter worth about $28,000. GAMMA Investing LLC grew its holdings in Tejon Ranch by 4,636.1% during the first quarter. GAMMA Investing LLC now owns 3,931 shares of the real estate development and agribusiness company's stock worth $62,000 after purchasing an additional 3,848 shares during the period. Deutsche Bank AG grew its holdings in Tejon Ranch by 36.1% during the fourth quarter. Deutsche Bank AG now owns 11,022 shares of the real estate development and agribusiness company's stock worth $175,000 after purchasing an additional 2,922 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new position in Tejon Ranch during the fourth quarter worth about $200,000. Institutional investors and hedge funds own 60.63% of the company's stock.

Insider Activity

In other news, CFO Brett A. Brown sold 5,356 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $18.55, for a total transaction of $99,353.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 22.44% of the stock is currently owned by corporate insiders.

Tejon Ranch Stock Performance

Tejon Ranch stock traded up $0.50 during midday trading on Monday, reaching $17.53. 17,874 shares of the company's stock were exchanged, compared to its average volume of 114,246. Tejon Ranch Co has a 52 week low of $14.70 and a 52 week high of $19.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.24. The firm has a market cap of $471.38 million, a price-to-earnings ratio of -1,753.00 and a beta of 0.63. The stock's 50-day simple moving average is $17.46 and its 200 day simple moving average is $16.65.

Tejon Ranch (NYSE:TRC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The real estate development and agribusiness company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). Tejon Ranch had a negative return on equity of 0.11% and a negative net margin of 1.17%. The business had revenue of $8.31 million for the quarter, compared to the consensus estimate of $8.10 million. On average, analysts expect that Tejon Ranch Co will post -0.04 earnings per share for the current fiscal year.

About Tejon Ranch

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.