Welcome to our dedicated page for Tejon Ranch news (Ticker: TRC), a resource for investors and traders seeking the latest updates and insights on Tejon Ranch stock.
Tejon Ranch Co (NYSE: TRC) provides timely updates on its diversified operations across real estate development, agribusiness, and land management. This page serves as the definitive source for verified news, press releases, and strategic announcements related to the company’s 270,000-acre Californian holdings.
Investors and stakeholders will find curated updates spanning industrial projects at Tejon Ranch Commerce Center, residential developments, mineral resource activities, and agricultural operations. Content is organized to highlight material events, partnership announcements, and operational milestones while maintaining compliance with financial disclosure standards.
Key categories include project approvals, sustainability initiatives, earnings communications, and strategic land-use decisions. All content is sourced from official channels to ensure accuracy and relevance for informed decision-making.
Bookmark this page for streamlined access to TRC’s latest developments, or subscribe to alerts for real-time updates on the company’s multifaceted growth initiatives.
Tejon Ranch Co. (NYSE: TRC) has announced the appointment of Nicholas (Nick) T. Ortiz as Senior Vice President, Corporate Communications and Public Affairs. Ortiz, who previously served as Vice President of Small Business Advocacy for the California Chamber of Commerce, will oversee the company's communications, brand image, government affairs, and key stakeholder engagement activities. He will also coordinate with the investor relations team to support Tejon Ranch's long-term growth objectives.
Gregory S. Bielli, President and CEO of Tejon Ranch Co., expressed excitement about bringing Ortiz back to Kern County, citing his expertise in developing strategies to inform and engage key audiences. Ortiz's background includes nearly eight years as President & CEO of the Greater Bakersfield Chamber and experience with various organizations in public affairs and policy.
Ortiz, a Kern County native, expressed enthusiasm for joining Tejon Ranch Company and supporting its efforts to boost housing availability, increase job opportunities, and spur economic development in Los Angeles County and Southern California.
Tejon Ranch Co. (NYSE:TRC) reported its Q2 2024 financial results, highlighting strategic efforts to unlock value from entitled land assets and grow diversified cash flows. Key developments include:
- Terra Vista at Tejon: First multi-family apartment community in Tejon Ranch Commerce Center (TRCC), with leasable units expected in Q2 2025.
- TRCC Industrial Portfolio: 2.8 million sq ft, 100% leased.
- TRCC Commercial Portfolio: 620,907 sq ft, 95% leased.
- Outlets at Tejon: Celebrating 10-year anniversary with 90% occupancy.
Financial Highlights:
- Q2 2024 GAAP net income: $1.0 million ($0.04 per share)
- Q2 2024 Revenues: $9.0 million
- Q2 2024 Adjusted EBITDA: $5.1 million
- Total liquidity as of June 30, 2024: $154.2 million
Glenbrook Capital Management, a long-time shareholder of Tejon Ranch Co. (NYSE: TRC), has issued an open letter urging the Tejon Board to improve transparency and shareholder engagement.
Glenbrook suggests the adoption of periodic investor calls and an investor outreach program, believing these changes will unlock the company's value.
The letter cites concerns over management's failure to communicate the company's asset value effectively, with the stock trading significantly below its book value.
Additionally, Glenbrook criticizes the high compensation of CEO Gregory Bielli, questioning the necessity of joint ventures that dilute shareholder value.
The letter also mentions recent shareholder votes against management and urges the Board to engage with shareholders about potential governance changes.
Glenbrook has a substantial investment in Tejon, holding 300,000 shares and options to purchase another 160,000 shares.
Tejon Ranch Co. reported its first-quarter 2024 financial results, showcasing a strategic focus on real estate development initiatives, including the construction of a residential community, Terra Vista at Tejon. The company's industrial and commercial real estate segments are performing well, with leasing activities and new developments underway. However, the financial results revealed a net loss attributable to common stockholders mainly due to decreased operating profit in the mineral resources segment and increased expenses in the resort/residential segment. Revenue and adjusted EBITDA declined compared to the same period in 2023. The company maintains a strong liquidity position and market capitalization, with plans to continue investing in various projects despite potential regulatory and environmental challenges in California.
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