Kennondale Capital Management LLC Takes $174,000 Position in Tejon Ranch Co. (NYSE:TRC)

Kennondale Capital Management LLC acquired a new position in shares of Tejon Ranch Co. (NYSE:TRC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,961 shares of the real estate development and agribusiness company’s stock, valued at approximately $174,000.

Several other hedge funds have also added to or reduced their stakes in TRC. OFI Invest Asset Management acquired a new stake in Tejon Ranch during the 4th quarter worth $632,000. Barclays PLC raised its stake in Tejon Ranch by 298.1% during the 3rd quarter. Barclays PLC now owns 32,072 shares of the real estate development and agribusiness company’s stock worth $563,000 after buying an additional 24,015 shares during the period. Proficio Capital Partners LLC acquired a new stake in Tejon Ranch during the 4th quarter worth $312,000. Levin Capital Strategies L.P. raised its stake in Tejon Ranch by 11.7% during the 4th quarter. Levin Capital Strategies L.P. now owns 70,653 shares of the real estate development and agribusiness company’s stock worth $1,123,000 after buying an additional 7,422 shares during the period. Finally, SG Americas Securities LLC raised its stake in Tejon Ranch by 30.3% during the 4th quarter. SG Americas Securities LLC now owns 19,010 shares of the real estate development and agribusiness company’s stock worth $302,000 after buying an additional 4,424 shares during the period. Institutional investors and hedge funds own 60.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tejon Ranch Stock Performance

TRC opened at $16.19 on Tuesday. The business’s 50-day moving average price is $15.89 and its two-hundred day moving average price is $16.29. Tejon Ranch Co. has a 1 year low of $14.71 and a 1 year high of $19.82. The company has a market capitalization of $434.74 million, a price-to-earnings ratio of -1,618,800.00 and a beta of 0.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.46.

Tejon Ranch (NYSE:TRC) last released its quarterly earnings results on Thursday, March 6th. The real estate development and agribusiness company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.14. Tejon Ranch had a negative return on equity of 0.05% and a negative net margin of 0.57%. The firm had revenue of $17.94 million for the quarter, compared to the consensus estimate of $15.53 million. Equities analysts expect 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.