Short Interest in Tejon Ranch Co. (NYSE:TRC) Declines By 15.5%

Tejon Ranch Co. (NYSE:TRC) was the recipient of a large 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 stock are sold short. Based on an average trading volume of 110,800 shares, the short-interest ratio is presently 3.9 days.

Wall Street Analysts Forecast Growth

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

Tejon Ranch Stock Down 1.2 %

Tejon Ranch stock opened at $15.89 on Tuesday. The company has a fifty day simple moving average of $15.94 and a 200 day simple moving average of $16.19. The company has a current ratio of 2.84, a quick ratio of 2.46 and a debt-to-equity ratio of 0.12. Tejon Ranch has a 1-year low of $14.71 and a 1-year high of $19.82. The company has a market cap of $426.61 million, a P/E ratio of -1,588,500.00 and a beta of 0.59.

Tejon Ranch (NYSE:TRC) last announced its quarterly earnings data on Thursday, March 6th. The real estate development and agribusiness company reported $0.17 earnings per share 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 company had revenue of $17.94 million during the quarter, compared to analysts’ expectations of $15.53 million. Research analysts anticipate that Tejon Ranch will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tejon Ranch

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL increased its holdings in Tejon Ranch by 7.9% during the fourth quarter. Gamco Investors INC. ET AL now owns 719,127 shares of the real estate development and agribusiness company’s stock worth $11,434,000 after buying an additional 52,401 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tejon Ranch by 0.8% in the 3rd 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. Bulldog Investors LLP increased its stake in shares of Tejon Ranch by 482.6% during the 4th quarter. Bulldog Investors LLP now owns 401,200 shares of the real estate development and agribusiness company’s stock worth $6,379,000 after purchasing an additional 332,341 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Tejon Ranch by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 195,879 shares of the real estate development and agribusiness company’s stock valued at $3,114,000 after purchasing an additional 1,409 shares during the period. Finally, Gabelli Funds LLC lifted its stake in Tejon Ranch by 1.3% in the 4th quarter. Gabelli Funds LLC now owns 144,000 shares of the real estate development and agribusiness company’s stock valued at $2,290,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors own 60.63% 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.