Tejon Ranch Co $TRC Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors cut its Tejon Ranch position by 6.1% in the first quarter, selling 94,782 shares and retaining 1.46 million shares valued at approximately $27.5 million. Institutional investors collectively own 60.63% of the company.
• Analyst sentiment remains bearish: Weiss Ratings reaffirmed a “sell” rating, and Tejon Ranch has an average “Sell” rating based on coverage from one analyst.
• Tejon Ranch reported quarterly earnings of $0.01 per share, exceeding the $0.02-per-share loss expected, while revenue of $9.5 million also surpassed estimates. Shares opened at $16.46, versus a 52-week range of $15.31 to $21.31.

Dimensional Fund Advisors LP reduced its position in Tejon Ranch Co (NYSE:TRC - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,458,434 shares of the real estate development and agribusiness company's stock after selling 94,782 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.40% of Tejon Ranch worth $27,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in shares of Tejon Ranch by 688.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,996 shares of the real estate development and agribusiness company's stock valued at $32,000 after acquiring an additional 1,743 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in 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 worth $37,000 after purchasing an additional 823 shares during the last quarter. Strs Ohio bought a new position in Tejon Ranch during the first quarter worth $65,000. Eurizon Capital SGR S.p.A. acquired a new position in Tejon Ranch in the fourth quarter worth $87,000. Finally, Raymond James Financial Inc. acquired a new position in Tejon Ranch in the second quarter worth $122,000. Institutional investors and hedge funds own 60.63% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of Tejon Ranch in a report on Thursday, July 2nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Tejon Ranch currently has an average rating of "Sell".

Tejon Ranch Price Performance

Shares of NYSE:TRC opened at $16.46 on Thursday. The company has a current ratio of 2.76, a quick ratio of 2.25 and a debt-to-equity ratio of 0.22. The firm's 50 day moving average is $18.43 and its two-hundred day moving average is $18.37. The firm has a market capitalization of $444.42 million, a P/E ratio of 235.18 and a beta of 0.59. Tejon Ranch Co has a 52 week low of $15.31 and a 52 week high of $21.31.

Tejon Ranch (NYSE:TRC - Get Free Report) last announced its earnings results on Thursday, May 7th. The real estate development and agribusiness company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $9.50 million for the quarter, compared to the consensus estimate of $8.75 million. Tejon Ranch had a return on equity of 0.35% and a net margin of 3.32%. Analysts anticipate that Tejon Ranch Co will post 0.11 earnings per share 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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