Gamco Investors INC. ET AL grew its position in shares of Tejon Ranch (NYSE:TRC) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 638,594 shares of the real estate development and agribusiness company’s stock after purchasing an additional 18,700 shares during the quarter. Gamco Investors INC. ET AL owned approximately 2.46% of Tejon Ranch worth $13,864,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in TRC. First Hawaiian Bank acquired a new stake in shares of Tejon Ranch during the third quarter valued at about $109,000. Russell Investments Group Ltd. bought a new position in shares of Tejon Ranch during the third quarter worth about $143,000. CIBC Private Wealth Group LLC raised its position in shares of Tejon Ranch by 109.9% during the second quarter. CIBC Private Wealth Group LLC now owns 6,684 shares of the real estate development and agribusiness company’s stock worth $162,000 after acquiring an additional 3,500 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Tejon Ranch during the second quarter worth about $209,000. Finally, GSA Capital Partners LLP bought a new position in shares of Tejon Ranch during the second quarter worth about $211,000. 74.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TRC opened at $18.60 on Friday. Tejon Ranch has a 1 year low of $18.34 and a 1 year high of $26.25. The company has a quick ratio of 7.49, a current ratio of 8.13 and a debt-to-equity ratio of 0.15. The stock has a market cap of $486.76 million, a PE ratio of 117.19 and a beta of 1.01.
Tejon Ranch (NYSE:TRC) last issued its quarterly earnings data on Tuesday, August 7th. The real estate development and agribusiness company reported ($0.04) earnings per share (EPS) for the quarter. Tejon Ranch had a return on equity of 1.00% and a net margin of 9.40%. The company had revenue of $5.07 million for the quarter.
A number of equities analysts have recently issued reports on TRC shares. Stifel Nicolaus raised their price objective on Tejon Ranch from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. TheStreet downgraded Tejon Ranch from a “c” rating to a “d+” rating in a research report on Wednesday, August 29th.
About Tejon Ranch
Tejon Ranch Co 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 entitling, planning, and permitting of land for development; construction of infrastructure; construction of pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.
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