Nitor Capital Management LLC Acquires Shares of 1,798,905 Tejon Ranch Co $TRC

Nitor Capital Management LLC bought a new stake in Tejon Ranch Co (NYSE:TRC) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,798,905 shares of the real estate development and agribusiness company’s stock, valued at approximately $33,640,000. Tejon Ranch accounts for 22.7% of Nitor Capital Management LLC’s investment portfolio, making the stock its biggest holding. Nitor Capital Management LLC owned approximately 0.07% of Tejon Ranch at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Tejon Ranch by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,138,314 shares of the real estate development and agribusiness company’s stock worth $34,170,000 after purchasing an additional 14,767 shares during the last quarter. BlackRock Inc. acquired a new stake in Tejon Ranch in the 2nd quarter worth about $30,383,000. Gamco Investors INC. ET AL increased its stake in Tejon Ranch by 0.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 737,939 shares of the real estate development and agribusiness company’s stock worth $13,903,000 after buying an additional 5,113 shares in the last quarter. Lee Danner & Bass Inc. increased its stake in Tejon Ranch by 1,109.4% during the 1st quarter. Lee Danner & Bass Inc. now owns 695,425 shares of the real estate development and agribusiness company’s stock worth $13,102,000 after buying an additional 637,925 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of Tejon Ranch by 0.3% during the fourth 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 acquiring an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 60.63% of the company’s stock.

Tejon Ranch Price Performance

Tejon Ranch stock opened at $16.42 on Monday. Tejon Ranch Co has a 52-week low of $15.31 and a 52-week high of $21.31. The firm has a market capitalization of $443.67 million, a price-to-earnings ratio of 71.39 and a beta of 0.59. The company has a fifty day simple moving average of $17.76 and a 200-day simple moving average of $18.38. The company has a quick ratio of 2.06, a current ratio of 2.92 and a debt-to-equity ratio of 0.19.

Tejon Ranch (NYSE:TRC) last posted its quarterly earnings results on Thursday, August 6th. The real estate development and agribusiness company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. The firm had revenue of $14.26 million for the quarter, compared to the consensus estimate of $8.64 million. Tejon Ranch had a net margin of 10.62% and a return on equity of 1.23%. On average, equities analysts anticipate that Tejon Ranch Co will post 0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Tejon Ranch from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average 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.