Tejon Ranch Co. (NYSE:TRC) Sees Large Decline in Short Interest

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

Tejon Ranch Stock Down 0.1 %

Shares of TRC traded down $0.01 during mid-day trading on Wednesday, hitting $15.91. The company’s stock had a trading volume of 97,954 shares, compared to its average volume of 91,449. The company has a current ratio of 2.84, a quick ratio of 2.46 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average is $15.93 and its 200-day moving average is $16.17. Tejon Ranch has a 52-week low of $14.71 and a 52-week high of $19.82. The firm has a market capitalization of $427.28 million, a price-to-earnings ratio of -1,591,000.00 and a beta of 0.59.

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, beating the consensus estimate of $0.03 by $0.14. The business had revenue of $17.94 million for the quarter, compared to analysts’ expectations 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, equities research analysts forecast that Tejon Ranch will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Tejon Ranch

A number of large investors have recently added to or reduced their stakes in TRC. Kennondale Capital Management LLC purchased a new position in shares of Tejon Ranch in the 4th quarter worth approximately $174,000. Deutsche Bank AG boosted its stake in Tejon Ranch by 36.1% in the fourth quarter. Deutsche Bank AG now owns 11,022 shares of the real estate development and agribusiness company’s stock valued at $175,000 after acquiring an additional 2,922 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in Tejon Ranch in the fourth quarter worth $200,000. SG Americas Securities LLC increased its position in shares of Tejon Ranch by 30.3% during the fourth quarter. SG Americas Securities LLC now owns 19,010 shares of the real estate development and agribusiness company’s stock worth $302,000 after purchasing an additional 4,424 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Tejon Ranch during the 4th quarter valued at $312,000. 60.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Tejon Ranch to a “sell” rating in a report on Wednesday, March 5th.

About Tejon Ranch

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.