CenterBook Partners LP Sells 85,192 Shares of Tejon Ranch Co $TRC

CenterBook Partners LP trimmed its stake in Tejon Ranch Co (NYSE:TRC) by 77.6% in the third quarter, HoldingsChannel.com reports. The firm owned 24,558 shares of the real estate development and agribusiness company’s stock after selling 85,192 shares during the period. CenterBook Partners LP’s holdings in Tejon Ranch were worth $392,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Concurrent Investment Advisors LLC bought a new position in shares of Tejon Ranch during the third quarter worth about $7,118,000. Levin Capital Strategies L.P. increased its position in Tejon Ranch by 97.9% during the 2nd quarter. Levin Capital Strategies L.P. now owns 102,062 shares of the real estate development and agribusiness company’s stock valued at $1,731,000 after purchasing an additional 50,500 shares during the period. Horizon Kinetics Asset Management LLC raised its holdings in Tejon Ranch by 99.9% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,647,497 shares of the real estate development and agribusiness company’s stock worth $27,942,000 after purchasing an additional 823,435 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in shares of Tejon Ranch by 19.9% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 117,192 shares of the real estate development and agribusiness company’s stock worth $1,988,000 after purchasing an additional 19,480 shares during the period. Finally, Gabelli Funds LLC boosted its stake in shares of Tejon Ranch by 33.6% in the 2nd quarter. Gabelli Funds LLC now owns 195,000 shares of the real estate development and agribusiness company’s stock valued at $3,307,000 after purchasing an additional 49,000 shares during the last quarter. 60.63% of the stock is owned by institutional investors.

Tejon Ranch Price Performance

TRC stock opened at $17.24 on Friday. Tejon Ranch Co has a 1 year low of $14.90 and a 1 year high of $19.39. The stock has a market capitalization of $463.45 million, a PE ratio of 143.63 and a beta of 0.67. The company’s 50-day moving average is $16.26 and its 200-day moving average is $16.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.66 and a quick ratio of 2.06.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TRC. Weiss Ratings raised shares of Tejon Ranch from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Wall Street Zen raised Tejon Ranch from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Tejon Ranch has a consensus rating of “Hold”.

Tejon Ranch Profile

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.