Tejon Ranch Co. (NYSE:TRC) Short Interest Update

Tejon Ranch Co. (NYSE:TRC) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 430,700 shares, a decline of 15.5% from the February 28th total of 509,800 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 110,800 shares, the days-to-cover ratio is currently 3.9 days.

Tejon Ranch Stock Down 1.1 %

NYSE TRC traded down $0.18 on Thursday, hitting $15.75. 57,311 shares of the company were exchanged, compared to its average volume of 91,448. The company has a current ratio of 2.84, a quick ratio of 2.46 and a debt-to-equity ratio of 0.12. The company has a market cap of $422.98 million, a PE ratio of -1,575,600.00 and a beta of 0.59. The stock has a fifty day moving average of $15.93 and a 200-day moving average of $16.17. Tejon Ranch has a 12 month low of $14.71 and a 12 month high of $19.82.

Tejon Ranch (NYSE:TRC) last released 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 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 company had revenue of $17.94 million for the quarter, compared to analysts’ expectations of $15.53 million. As a group, analysts forecast that Tejon Ranch will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Tejon Ranch

A number of hedge funds have recently added to or reduced their stakes in TRC. Occudo Quantitative Strategies LP bought a new position in shares of Tejon Ranch in the 4th quarter worth $200,000. Deutsche Bank AG raised its holdings in Tejon Ranch by 36.1% during the fourth quarter. Deutsche Bank AG now owns 11,022 shares of the real estate development and agribusiness company’s stock worth $175,000 after buying an additional 2,922 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Tejon Ranch in the fourth quarter valued at $342,000. Bulldog Investors LLP grew its holdings in shares of Tejon Ranch by 482.6% during the fourth quarter. Bulldog Investors LLP now owns 401,200 shares of the real estate development and agribusiness company’s stock valued at $6,379,000 after buying an additional 332,341 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Tejon Ranch by 19.9% during the fourth quarter. Bank of America Corp DE now owns 24,740 shares of the real estate development and agribusiness company’s stock worth $393,000 after acquiring an additional 4,107 shares in the last quarter. 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.