Lazard Asset Management LLC acquired a new position in shares of Tejon Ranch Co (NYSE:TRC – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 43,821 shares of the real estate development and agribusiness company’s stock, valued at approximately $826,000.
Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in Tejon Ranch by 59.8% in the second quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company’s stock valued at $37,000 after purchasing an additional 823 shares during the period. Cibc World Market Inc. increased its holdings in Tejon Ranch by 1.0% during the 4th quarter. Cibc World Market Inc. now owns 102,150 shares of the real estate development and agribusiness company’s stock worth $1,611,000 after purchasing an additional 1,000 shares during the period. Rhumbline Advisers increased its holdings in Tejon Ranch by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 33,448 shares of the real estate development and agribusiness company’s stock worth $567,000 after purchasing an additional 1,018 shares during the period. Concurrent Investment Advisors LLC raised its position in Tejon Ranch by 0.3% in the 4th quarter. Concurrent Investment Advisors LLC now owns 446,595 shares of the real estate development and agribusiness company’s stock valued at $7,043,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Tejon Ranch by 6.1% in the 3rd quarter. Alliancebernstein L.P. now owns 21,022 shares of the real estate development and agribusiness company’s stock valued at $336,000 after purchasing an additional 1,200 shares in the last quarter. 60.63% of the stock is currently owned by institutional investors and hedge funds.
Tejon Ranch Price Performance
Shares of TRC opened at $16.46 on Thursday. Tejon Ranch Co has a twelve month low of $15.31 and a twelve month high of $21.31. The firm’s fifty day simple moving average is $18.43 and its 200-day simple moving average is $18.37. The firm has a market capitalization of $444.42 million, a price-to-earnings ratio of 235.18 and a beta of 0.59. The company has a current ratio of 2.76, a quick ratio of 2.25 and a debt-to-equity ratio of 0.22.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tejon Ranch in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
View Our Latest Research Report on TRC
About Tejon Ranch
Tejon Ranch Corporation (NYSE: TRC) is one of California’s largest private landowners, with a diversified portfolio spanning agriculture, real estate development and natural resource operations. Headquartered in Lebec, California, the company’s holdings encompass approximately 270,000 acres in Kern and Los Angeles counties. Established in 1937 on the historic Rancho Tejon land grant, Tejon Ranch has leveraged its strategic location along Interstate 5 to build a multifaceted enterprise serving both local and regional markets.
In agriculture, Tejon Ranch grows a variety of row crops and permanent plantings, including almonds, pistachios, table grapes and citrus.
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