Royce & Associates LP Cuts Stock Holdings in Tejon Ranch Co. (NYSE:TRC)

Royce & Associates LP lowered its stake in shares of Tejon Ranch Co. (NYSE:TRC) by 20.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 313,818 shares of the real estate development and agribusiness company’s stock after selling 80,828 shares during the quarter. Royce & Associates LP owned 1.17% of Tejon Ranch worth $4,990,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Tejon Ranch by 0.8% in the third quarter. Geode Capital Management LLC now owns 537,987 shares of the real estate development and agribusiness company’s stock valued at $9,444,000 after buying an additional 4,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tejon Ranch by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 195,879 shares of the real estate development and agribusiness company’s stock valued at $3,114,000 after acquiring an additional 1,409 shares in the last quarter. Levin Capital Strategies L.P. boosted its stake in Tejon Ranch by 11.7% in the fourth quarter. Levin Capital Strategies L.P. now owns 70,653 shares of the real estate development and agribusiness company’s stock valued at $1,123,000 after acquiring an additional 7,422 shares in the last quarter. OFI Invest Asset Management acquired a new position in Tejon Ranch in the fourth quarter valued at $632,000. Finally, Barclays PLC boosted its stake in Tejon Ranch by 298.1% in the third quarter. Barclays PLC now owns 32,072 shares of the real estate development and agribusiness company’s stock valued at $563,000 after acquiring an additional 24,015 shares in the last quarter. Hedge funds and other institutional investors own 60.63% of the company’s stock.

Tejon Ranch Price Performance

Shares of TRC opened at $16.20 on Thursday. Tejon Ranch Co. has a fifty-two week low of $14.71 and a fifty-two week high of $19.82. The company has a market capitalization of $434.93 million, a price-to-earnings ratio of -1,619,500.00 and a beta of 0.59. The firm has a 50-day simple moving average of $15.90 and a 200-day simple moving average of $16.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.46 and a current ratio of 2.84.

Tejon Ranch (NYSE:TRC) last announced its earnings results on Thursday, March 6th. The real estate development and agribusiness company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.14. The business had revenue of $17.94 million during the quarter, compared to the consensus estimate of $15.53 million. Tejon Ranch had a negative net margin of 0.57% and a negative return on equity of 0.05%. On average, equities research analysts anticipate that Tejon Ranch Co. will post -0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Tejon Ranch to a “sell” rating in a research note on Wednesday, March 5th.

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.