Loading...
Docoh

Tejon Ranch (TRC)

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.

TRC stock data

Calendar

3 Aug 22
19 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 19.57M 19.57M 19.57M 19.57M 19.57M 19.57M
Cash burn (monthly) 6.11M 1.81M 772.67K (no burn) 1.78M (no burn)
Cash used (since last report) 10.28M 3.04M 1.3M n/a 2.99M n/a
Cash remaining 9.28M 16.52M 18.27M n/a 16.58M n/a
Runway (months of cash) 1.5 9.1 23.6 n/a 9.3 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Jul 22 Betts Steven A. Tejon Ranch Co. Common Stock Grant Acquire A No No 15.52 975 15.13K 34,016
8 Jul 22 Leggio Anthony L. Tejon Ranch Co. Common Stock Grant Acquire A No No 15.52 975 15.13K 41,414
8 Jul 22 Susan K Hori Tejon Ranch Co. Common Stock Grant Acquire A No No 15.52 1,216 18.87K 2,636
8 Jul 22 Fuller Jeannie Lynn Tejon Ranch Co. Common Stock Grant Acquire A No No 15.52 733 11.38K 9,885
8 Jul 22 Metcalfe Norman J Tejon Ranch Co. Common Stock Grant Acquire A Yes No 15.52 1,136 17.63K 72,635
40.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 98 102 -3.9%
Opened positions 9 8 +12.5%
Closed positions 13 12 +8.3%
Increased positions 21 25 -16.0%
Reduced positions 35 37 -5.4%
13F shares Current Prev Q Change
Total value 252.6M 299.95M -15.8%
Total shares 16.27M 16.43M -1.0%
Total puts 0 0
Total calls 0 100 EXIT
Total put/call ratio
Largest owners Shares Value Change
Towerview 3.82M $59.21M 0.0%
BLK Blackrock 1.45M $22.51M -2.2%
Dimensional Fund Advisors 1.44M $22.39M +3.3%
Vanguard 1.08M $16.71M -0.1%
Horizon Kinetics Asset Management 759.79K $11.79M -5.9%
GBL Gamco Investors 620.02K $9.62M +3.0%
Renaissance Technologies 605.55K $9.4M -7.1%
FMR 529.36K $8.22M +0.0%
Royce & Associates 468.81K $7.28M 0.0%
Price Jennifer C. 462.2K $7.17M NEW
Largest transactions Shares Bought/sold Change
Price Michael F 0 -472.5K EXIT
Price Jennifer C. 462.2K +462.2K NEW
Millennium Management 80.88K +80.88K NEW
Gsa Capital Partners 0 -51.9K EXIT
Horizon Kinetics Asset Management 759.79K -47.72K -5.9%
Dimensional Fund Advisors 1.44M +46.47K +3.3%
Renaissance Technologies 605.55K -46.2K -7.1%
BLK Blackrock 1.45M -32.29K -2.2%
Susquehanna International 0 -26.31K EXIT
Santa Monica Partners 173.7K +22.5K +14.9%

Financial report summary

?
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 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, 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, including the development, distribution, efficacy and acceptance of vaccines and related mandates, 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 several reasons, including those described above and in the section entitled “Risk Factors” in 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.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: climb, Codification, daily, equated, extinguishment, jump, Lender, multinational, overnight, ownership, perfectly, posted, quantitative, refund, released, shortcut, SOFR, stronger, subfacility, terminated, termination, ticked, tight
Removed: approximate, aware, binding, consent, counsel, CRC, decreased, drafted, enforceable, expenditure, indemnify, indemnity, Lafarge, Lahontan, led, legally, likelihood, limestone, liquid, manufacturing, matter, payable, Portland, purpose, Regional, remediate, remediation, rentable, restaurant, RWQCB, scope, traffic, transaction, TRC, treatment, unreasonably, withheld