Cibc World Market Inc. Buys New Holdings in Tejon Ranch Co $TRC

Key Points

• Cibc World Market Inc. acquired 99,950 shares of Tejon Ranch in the second quarter, worth approximately $1.87 million and representing 0.37% of the company. Other major institutions, including Nitor Capital and BlackRock, also initiated positions, while institutional investors collectively own 60.63% of shares.
• Tejon Ranch shares opened at $15.84, down 2.1%, near the lower end of their 12-month range. The stock has a $428 million market capitalization and trades at a P/E ratio of 68.87.
• The company reported quarterly earnings of $0.10 per share, beating estimates of $0.02, while revenue of $14.26 million exceeded expectations. Analyst sentiment remains neutral, with the stock holding an average “Hold” rating after Weiss Ratings upgraded it from “Sell” to “Hold.”

Cibc World Market Inc. 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 & Exchange Commission. The firm bought 99,950 shares of the real estate development and agribusiness company's stock, valued at approximately $1,869,000. Cibc World Market Inc. owned 0.37% of Tejon Ranch at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nitor Capital Management LLC acquired a new stake in shares of Tejon Ranch during the 2nd quarter valued at about $33,640,000. BlackRock Inc. bought a new stake in shares of Tejon Ranch in the 2nd quarter valued at approximately $30,383,000. Deutsche Bank AG bought a new stake in shares of Tejon Ranch in the 2nd quarter valued at approximately $384,000. Bank of New York Mellon Corp acquired a new position in shares of Tejon Ranch in the 2nd quarter worth approximately $1,398,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Tejon Ranch in the 2nd quarter worth approximately $192,000. Institutional investors own 60.63% of the company's stock.

Tejon Ranch Trading Down 2.1%

Shares of TRC stock opened at $15.84 on Thursday. The company has a market capitalization of $428.00 million, a P/E ratio of 68.87 and a beta of 0.59. Tejon Ranch Co has a 12-month low of $15.31 and a 12-month high of $21.31. The company has a quick ratio of 2.06, a current ratio of 2.92 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $17.59 and a 200 day moving average price of $18.38.

Tejon Ranch (NYSE:TRC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The real estate development and agribusiness company reported $0.10 earnings per share 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 company had revenue of $14.26 million during the quarter, compared to analyst estimates of $8.64 million. Research analysts forecast that Tejon Ranch Co will post 0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

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