Short Interest in Tejon Ranch Co. (NYSE:TRC) Declines By 15.5%

Tejon Ranch Co. (NYSE:TRC) was the target of a large drop in short interest during the month of 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 shares of the company are sold short. Based on an average daily volume of 110,800 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Investors Weigh In On Tejon Ranch

Institutional investors have recently modified their holdings of the business. Kennondale Capital Management LLC acquired a new stake in Tejon Ranch in the 4th quarter worth about $174,000. Deutsche Bank AG raised its position in shares of 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 buying an additional 2,922 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Tejon Ranch in the fourth quarter valued at approximately $200,000. SG Americas Securities LLC grew its position in 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 buying an additional 4,424 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Tejon Ranch during the 4th quarter worth $312,000. Institutional investors own 60.63% of the company’s stock.

Tejon Ranch Stock Down 1.2 %

Tejon Ranch stock opened at $15.89 on Tuesday. The company’s 50-day moving average price is $15.94 and its two-hundred day moving average price is $16.19. The company has a quick ratio of 2.46, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The stock has a market cap of $426.61 million, a P/E ratio of -1,588,500.00 and a beta of 0.59. Tejon Ranch has a twelve month low of $14.71 and a twelve 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 for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. The company had revenue of $17.94 million for 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%. As a group, analysts expect that Tejon Ranch will post -0.04 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Tejon Ranch to a “sell” rating in a research report 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.