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TRC Tejon Ranch

Tejon Ranch Company is a growth-oriented, diversified real estate development and agribusiness company whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 25 miles south of Bakersfield. Tejon Ranch is positioned for growth with its fully operational commercial/industrial real estate development and three master planned communities on the horizon. The Company’s activities are performed through its five major business segments: Real Estate - Commercial/Industrial development, which oversees development, commercial sales and leasing, land planning and entitlement, and income portfolio management. Real Estate - Resort/Residential development, which manages land entitlement, land planning, and pre-construction activities such as engineering, and conservation activities. Mineral Resources, which consists of the active management of oil and gas royalties, rock and aggregate royalties, royalties from a cement operation, and the management of our water assets. Farming produces and sells almonds, pistachios, and wine grapes. Ranch Operations which includes grazing leases, hunting programs and location filming.

Company profile

TRC stock data

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Calendar

5 May 21
3 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
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Cost of revenue
Operating income
Operating margin
Net income
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Cash on hand
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Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
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Cost of revenue
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Financial data from Tejon Ranch earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 45.32M 45.32M 45.32M 45.32M 45.32M 45.32M
Cash burn (monthly) 3.33M (positive/no burn) 351.33K 503.17K (positive/no burn) (positive/no burn)
Cash used (since last report) 13.78M n/a 1.45M 2.08M n/a n/a
Cash remaining 31.55M n/a 43.87M 43.24M n/a n/a
Runway (months of cash) 9.5 n/a 124.9 85.9 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Jul 21 Daniel R Tisch Common Stock Grant Aquire A No No 15.21 1,236 18.8K 61,393
8 Jul 21 Stack Geoffrey L Tejon Ranch Co. Common Stock Grant Aquire A Yes No 15.21 1,483 22.56K 79,414
8 Jul 21 Metcalfe Norman J Tejon Ranch Co. Common Stock Grant Aquire A Yes No 15.21 1,154 17.55K 68,501
8 Jul 21 Betts Steven A. Tejon Ranch Co. Common Stock Grant Aquire A No No 15.21 990 15.06K 30,452
8 Jul 21 Leggio Anthony L. Tejon Ranch Co. Common Stock Grant Aquire A No No 15.21 990 15.06K 37,850

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

65.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 109 103 +5.8%
Opened positions 19 15 +26.7%
Closed positions 13 4 +225.0%
Increased positions 27 32 -15.6%
Reduced positions 36 31 +16.1%
13F shares
Current Prev Q Change
Total value 1.46B 1.17B +24.0%
Total shares 17.37M 17.38M -0.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Towerview 3.82M $63.86M 0.0%
Vanguard 2.27M $38.03M +2.4%
BLK Blackrock 1.6M $26.76M +4.9%
Dimensional Fund Advisors 1.46M $24.51M -2.8%
Royce & Associates 1.2M $20.04M -0.8%
Renaissance Technologies 741.25K $12.41M -5.0%
GBL Gamco Investors 556.93K $9.32M -0.4%
FMR 513.67K $8.6M -1.5%
Price Michael F 458.52K $7.68M 0.0%
STT State Street 419.9K $7.03M +3.9%
Largest transactions
Shares Bought/sold Change
Ariel Investments 62.43K -214.98K -77.5%
Brown Advisory 195.01K +195.01K NEW
BLK Blackrock 1.6M +74.1K +4.9%
CM Management 70K +70K NEW
Millennium Management 19.66K -61.29K -75.7%
Vanguard 2.27M +54.16K +2.4%
MS Morgan Stanley 74.76K -48.11K -39.2%
Assenagon Asset Management 73.1K +42.98K +142.7%
Dimensional Fund Advisors 1.46M -42.15K -2.8%
WFC Wells Fargo & Co. 8.58K -41.16K -82.8%

Financial report summary

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Management Discussion
  • ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • This Quarterly Report on Form 10-Q contains forward-looking statements, including without limitation statements regarding strategic alliances, the almond, pistachio and grape industries, the future plantings of permanent crops, future yields, prices and water availability for the Company's crops and real estate operations, future prices, production and demand for oil and other minerals, future development of the Company's property, future revenue and income of its jointly-owned travel plaza and other joint venture operations, potential losses to Tejon Ranch Co. and its subsidiaries (the Company, Tejon, we, us, and our), as a result of pending environmental proceedings, the adequacy of future cash flows to fund our operations, and of current assets and contracts to meet our water and other commitments, market value risks associated with investment and risk management activities and with respect to inventory, accounts receivable and our own outstanding indebtedness, ongoing negotiations, the uncertainties regarding the expected impact of COVID-19 on the Company, its customers and suppliers, and global economic conditions, and other future events and conditions. In some cases, these statements are identifiable through use of words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “target,” “can,” “could,” “may,” “will,” “should,” “would,” “likely,” and similar expressions such as “in the process.” In addition, any statements that refer to projections of our future financial performance, our anticipated growth, and trends in our business and other characterizations of future events or circumstances are forward-looking statements. We caution you not to place undue reliance on these forward-looking statements. These forward-looking statements are not a guarantee of future performance and are subject to assumptions and involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company, or industry results, to differ materially from any future results, performance, or achievement implied by such forward-looking statements. These risks, uncertainties and important factors include, but are not limited to, the impacts of COVID-19 and the actions taken by governments, businesses, and individuals in response to it, weather, market and economic forces, availability of financing for land development activities, and competition and success in obtaining various governmental approvals and entitlements for land development activities. No assurance can be given that the actual future results will not differ materially from the forward-looking statements that we make for a number of reasons, including those described above and in the section entitled “Risk Factors” in this report and our most recent Annual Report on Form 10-K.
  • We are a diversified real estate development and agribusiness company committed to responsibly using our land and resources to meet the housing, employment, and lifestyle needs of Californians and to create value for our shareholders. In support of these objectives, we have been investing in land planning and entitlement activities for new industrial and residential land developments and in infrastructure improvements within our active industrial development. Our prime asset is approximately 270,000 acres of contiguous, largely undeveloped land that, at its most southerly border, is 60 miles north of Los Angeles and, at its most northerly border, is 15 miles east of Bakersfield.
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