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

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

Tejon Ranch Trading Down 1.1 %

Shares of TRC stock traded down $0.18 during trading hours on Thursday, hitting $15.75. 57,311 shares of the company’s stock traded hands, compared to its average volume of 91,448. The stock has a market cap of $422.98 million, a PE ratio of -1,575,600.00 and a beta of 0.59. The stock’s 50 day simple moving average is $15.93 and its 200 day simple moving average is $16.17. The company has a quick ratio of 2.46, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. Tejon Ranch has a 12 month low of $14.71 and a 12 month high of $19.82.

Tejon Ranch (NYSE:TRC) last announced its earnings results on Thursday, March 6th. The real estate development and agribusiness company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.14. The business had revenue of $17.94 million during the quarter, compared to analyst estimates of $15.53 million. Tejon Ranch had a negative return on equity of 0.05% and a negative net margin of 0.57%. On average, sell-side analysts anticipate that Tejon Ranch will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Tejon Ranch

A number of hedge funds have recently made changes to their positions in TRC. Gamco Investors INC. ET AL boosted its holdings in Tejon Ranch by 7.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 719,127 shares of the real estate development and agribusiness company’s stock valued at $11,434,000 after acquiring an additional 52,401 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 purchasing an additional 4,247 shares during the last quarter. Bulldog Investors LLP increased its position 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 worth $6,379,000 after buying an additional 332,341 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Tejon Ranch by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 195,879 shares of the real estate development and agribusiness company’s stock worth $3,114,000 after buying an additional 1,409 shares during the last quarter. Finally, Gabelli Funds LLC lifted its holdings in Tejon Ranch by 1.3% in the fourth 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 buying an additional 1,800 shares during the period. 60.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.