Deutsche Bank AG trimmed its position in shares of Tejon Ranch (NYSE:TRC) by 35.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,645 shares of the real estate development and agribusiness company’s stock after selling 14,988 shares during the quarter. Deutsche Bank AG owned approximately 0.11% of Tejon Ranch worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in Tejon Ranch by 23.7% in the fourth quarter. Legal & General Group Plc now owns 3,879 shares of the real estate development and agribusiness company’s stock worth $64,000 after purchasing an additional 742 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Tejon Ranch by 305.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,406 shares of the real estate development and agribusiness company’s stock worth $106,000 after purchasing an additional 4,826 shares in the last quarter. Raymond James & Associates acquired a new position in Tejon Ranch in the fourth quarter worth $191,000. Mraz Amerine & Associates Inc. boosted its stake in Tejon Ranch by 25.9% in the fourth quarter. Mraz Amerine & Associates Inc. now owns 14,562 shares of the real estate development and agribusiness company’s stock worth $241,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of Tejon Ranch during the fourth quarter valued at $301,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
Separately, TheStreet raised Tejon Ranch from a “d+” rating to a “c-” rating in a research note on Wednesday, February 20th.
NYSE TRC traded down $0.25 during trading hours on Friday, hitting $16.30. 67,515 shares of the company traded hands, compared to its average volume of 54,989. Tejon Ranch has a twelve month low of $16.04 and a twelve month high of $26.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.13 and a current ratio of 5.46. The stock has a market capitalization of $428.17 million, a PE ratio of 165.00 and a beta of 0.98.
In other Tejon Ranch news, Director Towerview Llc acquired 4,933 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average cost of $16.20 per share, with a total value of $79,914.60. Following the completion of the transaction, the director now directly owns 3,677,592 shares in the company, valued at approximately $59,576,990.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have purchased 19,767 shares of company stock valued at $319,111 over the last three months. Insiders own 19.79% of the company’s stock.
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Tejon Ranch Profile
Tejon Ranch Co 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 entitling, planning, and permitting of land for development; construction of infrastructure; construction of pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.
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