Tejon Ranch (NYSE:TRC) was the target of a large decrease in short interest in November. As of November 29th, there was short interest totalling 510,000 shares, a decrease of 14.5% from the November 14th total of 596,800 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average daily volume of 78,700 shares, the days-to-cover ratio is presently 6.5 days.
In related news, major shareholder Dt Four Partners, Llc purchased 2,104 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average price of $15.95 per share, for a total transaction of $33,558.80. Following the purchase, the insider now owns 1,047,501 shares of the company’s stock, valued at approximately $16,707,640.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Towerview Llc purchased 6,197 shares of the business’s stock in a transaction on Monday, November 18th. The shares were bought at an average price of $15.90 per share, for a total transaction of $98,532.30. Following the purchase, the insider now directly owns 3,698,623 shares in the company, valued at approximately $58,808,105.70. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,678 shares of company stock worth $153,985 in the last 90 days. 19.79% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can increased its stake in shares of Tejon Ranch by 5,751.7% in the second quarter. Bank of Montreal Can now owns 1,697 shares of the real estate development and agribusiness company’s stock worth $28,000 after acquiring an additional 1,668 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Tejon Ranch in the third quarter worth $30,000. Rhumbline Advisers increased its stake in shares of Tejon Ranch by 7.7% in the third quarter. Rhumbline Advisers now owns 40,395 shares of the real estate development and agribusiness company’s stock worth $686,000 after acquiring an additional 2,892 shares during the period. Teton Advisors Inc. increased its stake in shares of Tejon Ranch by 1.7% in the second quarter. Teton Advisors Inc. now owns 175,000 shares of the real estate development and agribusiness company’s stock worth $2,903,000 after acquiring an additional 3,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Tejon Ranch by 3.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 123,341 shares of the real estate development and agribusiness company’s stock worth $2,047,000 after acquiring an additional 4,674 shares during the period. Institutional investors and hedge funds own 70.79% of the company’s stock.
Tejon Ranch stock traded up $0.18 during mid-day trading on Friday, reaching $16.42. 76,700 shares of the company traded hands, compared to its average volume of 63,304. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.63 and a quick ratio of 3.33. Tejon Ranch has a fifty-two week low of $15.82 and a fifty-two week high of $19.66. The company has a market capitalization of $420.69 million, a price-to-earnings ratio of 403.75 and a beta of 0.97. The firm’s fifty day moving average is $16.23 and its two-hundred day moving average is $16.86.
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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