CenterBook Partners LP Grows Stock Holdings 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 boosted its position in Tejon Ranch Co (NYSE:TRC - Free Report) by 117.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,039 shares of the real estate development and agribusiness company's stock after buying an additional 78,339 shares during the quarter. CenterBook Partners LP owned approximately 0.54% of Tejon Ranch worth $2,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of TRC. American Century Companies Inc. increased its position in Tejon Ranch by 12.0% in the fourth quarter. American Century Companies Inc. now owns 43,636 shares of the real estate development and agribusiness company's stock worth $694,000 after buying an additional 4,672 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Tejon Ranch by 190.7% in the fourth quarter. JPMorgan Chase & Co. now owns 27,666 shares of the real estate development and agribusiness company's stock worth $440,000 after acquiring an additional 18,149 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Tejon Ranch by 121.0% in the fourth quarter. Wells Fargo & Company MN now owns 27,762 shares of the real estate development and agribusiness company's stock worth $441,000 after acquiring an additional 15,202 shares during the period. Invesco Ltd. boosted its holdings in shares of Tejon Ranch by 2.2% in the fourth quarter. Invesco Ltd. now owns 33,531 shares of the real estate development and agribusiness company's stock worth $533,000 after acquiring an additional 724 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Tejon Ranch by 18.3% in the fourth quarter. Covestor Ltd now owns 22,412 shares of the real estate development and agribusiness company's stock worth $356,000 after acquiring an additional 3,466 shares during the period. 60.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tejon Ranch

In related news, CFO Brett A. Brown sold 5,356 shares of Tejon Ranch stock in a transaction on Friday, July 11th. The stock was sold at an average price of $18.55, for a total transaction of $99,353.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.44% of the company's stock.

Tejon Ranch Stock Performance

Shares of Tejon Ranch stock traded up $0.03 during trading hours on Friday, reaching $17.04. The company had a trading volume of 138,534 shares, compared to its average volume of 113,219. Tejon Ranch Co has a one year low of $14.70 and a one year high of $19.39. The business has a fifty day simple moving average of $17.46 and a 200 day simple moving average of $16.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.68 and a quick ratio of 2.35. The firm has a market cap of $458.04 million, a PE ratio of -1,704.00 and a beta of 0.63.

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

Tejon Ranch 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.