Royce & Associates LP Reduces Stock Position in Tejon Ranch Co. (NYSE:TRC)

Royce & Associates LP cut its stake in Tejon Ranch Co. (NYSE:TRC) by 20.5% in the fourth quarter, HoldingsChannel reports. The institutional investor 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’s holdings in Tejon Ranch were worth $4,990,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings 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 buying an additional 4,424 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Tejon Ranch in the fourth quarter valued at about $312,000. 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 in the last quarter. OFI Invest Asset Management purchased a new position in Tejon Ranch in the fourth quarter valued at about $632,000. Finally, Levin Capital Strategies L.P. increased its holdings 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 buying an additional 7,422 shares in the last quarter. 60.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Tejon Ranch Trading Up 0.7 %

Shares of TRC opened at $16.20 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.46. The firm has a 50 day simple moving average of $15.90 and a 200-day simple moving average of $16.27. Tejon Ranch Co. has a 1-year low of $14.71 and a 1-year high of $19.82. The stock has a market cap of $434.93 million, a price-to-earnings ratio of -1,619,500.00 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 for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. Tejon Ranch had a negative net margin of 0.57% and a negative return on equity of 0.05%. The business had revenue of $17.94 million during the quarter, compared to analysts’ expectations of $15.53 million. Equities analysts forecast that Tejon Ranch Co. will post -0.04 EPS for the current fiscal year.

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.