Tejon Ranch (TRC) Stock Rating Upgraded by TheStreet
Separately, BidaskClub cut Tejon Ranch from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th.
Shares of Tejon Ranch (TRC) traded down $0.26 during mid-day trading on Friday, reaching $22.18. The company had a trading volume of 89,733 shares, compared to its average volume of 68,214. Tejon Ranch has a 1-year low of $18.59 and a 1-year high of $27.99. The company has a current ratio of 1.31, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20.
Institutional investors and hedge funds have recently modified their holdings of the business. First Manhattan Co. lifted its stake in Tejon Ranch by 499.5% in the second quarter. First Manhattan Co. now owns 6,001 shares of the real estate development and agribusiness company’s stock valued at $123,000 after buying an additional 5,000 shares during the period. Stelac Advisory Services LLC acquired a new position in Tejon Ranch in the third quarter valued at approximately $124,000. SG Americas Securities LLC acquired a new position in Tejon Ranch in the third quarter valued at approximately $167,000. JPMorgan Chase & Co. lifted its stake in Tejon Ranch by 19.1% in the second quarter. JPMorgan Chase & Co. now owns 8,965 shares of the real estate development and agribusiness company’s stock valued at $185,000 after buying an additional 1,436 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of Tejon Ranch by 5.6% during the second quarter. Nationwide Fund Advisors now owns 9,662 shares of the real estate development and agribusiness company’s stock worth $199,000 after purchasing an additional 516 shares during the period. 60.54% of the stock is currently owned by hedge funds and other institutional investors.
About Tejon Ranch
Tejon Ranch Co is a diversified real estate development and agribusiness company. The Company operates through five segments: Real Estate-Commercial/Industrial; Real Estate-Resort/Residential; Mineral Resources; Farming Operations, and Ranch Operations. Its Real Estate-Commercial/Industrial segment is engaged in building, land lease activities, and land and building sales.
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