OFI Invest Asset Management Acquires New Position in Tejon Ranch Co. (NYSE:TRC)

OFI Invest Asset Management acquired a new stake in Tejon Ranch Co. (NYSE:TRC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,162 shares of the real estate development and agribusiness company’s stock, valued at approximately $632,000. OFI Invest Asset Management owned about 0.15% of Tejon Ranch as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRC. Barclays PLC increased its holdings 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 buying an additional 24,015 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Tejon Ranch in the fourth quarter valued at approximately $312,000. 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 during the period. SG Americas Securities LLC boosted its stake in Tejon Ranch by 30.3% in the fourth quarter. SG Americas Securities LLC now owns 19,010 shares of the real estate development and agribusiness company’s stock valued at $302,000 after acquiring an additional 4,424 shares during the period. Finally, Geode Capital Management LLC boosted its stake 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 acquiring an additional 4,247 shares during the period. 60.63% of the stock is owned by institutional investors.

Tejon Ranch Stock Performance

Shares of TRC stock opened at $16.31 on Monday. The company has a quick ratio of 2.46, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average of $15.88 and a two-hundred day moving average of $16.36. Tejon Ranch Co. has a 52 week low of $14.70 and a 52 week high of $19.82. The company has a market cap of $437.54 million, a P/E ratio of -1,631,200.00 and a beta of 0.59.

Tejon Ranch (NYSE:TRC) last issued its quarterly earnings data on Thursday, March 6th. The real estate development and agribusiness company reported $0.17 earnings per share (EPS) 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 return on equity of 0.05% and a negative net margin of 0.57%. As a group, analysts anticipate that Tejon Ranch Co. will post -0.04 EPS for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Tejon Ranch

In other news, Director Geoffrey L. Stack sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $15.60, for a total transaction of $39,000.00. Following the completion of the transaction, the director now directly owns 67,544 shares in the company, valued at approximately $1,053,686.40. The trade was a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 22.44% of the company’s stock.

Tejon Ranch Company Profile

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.