Tejon Ranch (NYSE:TRC) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Tejon Ranch (NYSE:TRC) announced its quarterly earnings data on Thursday. The real estate development and agribusiness company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06), reports. The company had revenue of $10.86 million for the quarter, compared to analysts’ expectations of $10.19 million. Tejon Ranch had a negative net margin of 0.57% and a negative return on equity of 0.05%.

Tejon Ranch Stock Up 1.9 %

TRC opened at $16.83 on Friday. The firm has a 50 day moving average of $17.02 and a two-hundred day moving average of $17.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.43 and a quick ratio of 2.95. Tejon Ranch has a 12-month low of $14.80 and a 12-month high of $19.82.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Tejon Ranch to a “sell” rating in a research note on Wednesday, August 7th.

Institutional Trading of Tejon Ranch

A number of hedge funds and other institutional investors have recently made changes to their positions in TRC. OFI Invest Asset Management acquired a new position in Tejon Ranch in the second quarter valued at approximately $655,000. Lee Danner & Bass Inc. acquired a new position in shares of Tejon Ranch in the 2nd quarter valued at $802,000. SG Americas Securities LLC boosted its holdings in Tejon Ranch by 39.2% during the second quarter. SG Americas Securities LLC now owns 11,249 shares of the real estate development and agribusiness company’s stock worth $192,000 after buying an additional 3,170 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Tejon Ranch by 1,141.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,939 shares of the real estate development and agribusiness company’s stock valued at $246,000 after buying an additional 14,655 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new position in Tejon Ranch in the first quarter valued at $344,000. Institutional investors and hedge funds own 60.63% of the company’s stock.

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.