Tejon Ranch Co. (NYSE:TRC – Free Report) – Stock analysts at Zacks Small Cap increased their FY2023 earnings per share (EPS) estimates for shares of Tejon Ranch in a research report issued on Wednesday, November 15th. Zacks Small Cap analyst M. Marin now expects that the real estate development and agribusiness company will earn $0.05 per share for the year, up from their prior forecast of $0.04. The consensus estimate for Tejon Ranch’s current full-year earnings is $0.04 per share. Zacks Small Cap also issued estimates for Tejon Ranch’s FY2024 earnings at $0.10 EPS.
Several other analysts also recently issued reports on TRC. StockNews.com downgraded Tejon Ranch from a “hold” rating to a “sell” rating in a report on Friday, September 29th. TheStreet downgraded Tejon Ranch from a “c” rating to a “d+” rating in a report on Friday.
Tejon Ranch Stock Down 0.8 %
Shares of NYSE TRC opened at $16.36 on Monday. Tejon Ranch has a 12-month low of $15.25 and a 12-month high of $20.65. The company has a market cap of $437.30 million, a P/E ratio of 116.86 and a beta of 0.68. The company has a current ratio of 4.90, a quick ratio of 4.41 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $16.04 and a 200 day moving average price of $16.76.
Hedge Funds Weigh In On Tejon Ranch
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in shares of Tejon Ranch by 107.3% during the third quarter. Tower Research Capital LLC TRC now owns 1,785 shares of the real estate development and agribusiness company’s stock worth $26,000 after purchasing an additional 924 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Tejon Ranch during the fourth quarter worth about $29,000. Wells Fargo & Company MN lifted its position in shares of Tejon Ranch by 98.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,648 shares of the real estate development and agribusiness company’s stock worth $31,000 after purchasing an additional 817 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Tejon Ranch during the third quarter worth about $39,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Tejon Ranch by 313.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,110 shares of the real estate development and agribusiness company’s stock worth $40,000 after purchasing an additional 1,600 shares during the last quarter. 60.87% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Tejon Ranch
In other news, major shareholder Towerview Llc acquired 7,785 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was bought at an average cost of $15.86 per share, with a total value of $123,470.10. Following the transaction, the insider now directly owns 3,840,612 shares in the company, valued at approximately $60,912,106.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.44% of the stock is owned by insiders.
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.
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