Tejon Ranch Stock Price, News & Analysis

Tejon Ranch Co. (NYSE:TRC) has issued a letter to shareholders urging them to vote "FOR" all 10 of the company's director nominees at the upcoming Annual Meeting on May 13, 2025. The company is facing opposition from Bulldog Investors, a New Jersey-based hedge fund that recently purchased TRC shares and is attempting to install three of its own nominees. Tejon criticizes Bulldog's nominees for lacking experience in real estate, land development, and California regulation. The company defends its capital allocation strategy, highlighting the successful development of Tejon Ranch Commerce Center (TRCC) and a 5x-10x increase in entitled land value. Management emphasizes their commitment to transparency, noting meetings with investors representing 53% of shares in 2024, and highlights a 38% decrease in discretionary MPC investments over 5 years and a 50% reduction in headcount over the last decade.

Tejon Ranch Co. (NYSE:TRC), a diversified real estate development and agribusiness company, announced its participation in Oppenheimer's 20th Annual Growth Conference on May 6, 2025. The conference will be held virtually, featuring a presentation by Tejon's new President & CEO Matthew Walker at 12 PM ET. Investors can access the presentation through a webcast link, with a 90-day replay available on both the provided link and the Company's Investor Relations website.

Tejon Ranch Co. (NYSE:TRC) has filed an investor presentation highlighting its strategy for long-term value creation ahead of its May 13, 2025 Annual Meeting. The company is focusing on four key areas: developing residential and industrial projects at Tejon Ranch Commerce Center (TRCC), progressing entitlements of Master-Planned Communities (MPCs), advancing MPCs for future cash flow, and maximizing commodity businesses.

TRCC, the company's first operational development, has demonstrated significant success with industrial land price appreciation of nearly 1,500% since inception and generated over $110 million in cumulative cash flows from commercial and industrial development since 2000. The company recently developed Terra Vista, a residential apartment community at TRCC.

In 2024, Tejon's Board implemented succession planning, appointing a new CEO and four new directors. The company is currently facing a proxy contest with Bulldog Investors, who is seeking to gain control of nearly 30% of the Board. Tejon argues that Bulldog's nominees lack the necessary experience in real estate and California-specific land development.

Tejon Ranch Co. (NYSE:TRC) is urging shareholders to vote 'FOR' the Company's 10 director nominees on the WHITE proxy card at the upcoming Annual Meeting on May 13, 2025, while opposing Bulldog Investors' nominees. The company emphasizes its successful track record in real estate development and land use entitlements in California.

The company highlights its Tejon Ranch Commerce Center (TRCC) success, which has generated over $110 million in cumulative cash flow from commercial and industrial development. Tejon has reduced discretionary land use entitlement spending by 38% over five years and decreased headcount by nearly half over the past decade while maintaining low debt.

The company argues that Bulldog's nominees lack experience in real estate, land development, and California-specific regulation, warning that their short-term focus could jeopardize long-term value creation and decades of progress in master-planned communities (MPCs) including Mountain Village, Grapevine, and Centennial.

Tejon Ranch Co. (NYSE:TRC) has filed definitive proxy materials for its upcoming Annual Meeting on May 13, 2025, urging shareholders to vote 'FOR' the Company's 10 director nominees on the WHITE proxy card. The company is facing opposition from Bulldog Investors, a New Jersey-based hedge fund.

The company reported strong Q4 performance with 15% year-over-year revenue growth to $21.6 million, 186% increase in GAAP net income to $4.5 million, and 116% growth in adjusted EBITDA to $10.5 million. Their Tejon Ranch Commerce Center achieved 100% industrial and 96% commercial occupancy rates.

Tejon's strategy focuses on monetizing 270,000 acres of land between Bakersfield and Los Angeles through four master-planned communities, expected to include over 35,000 homesites and 35 million square feet of commercial/industrial space. The company recently appointed Matt Walker as CEO effective April 1, 2025, following his 24-year career in California real estate.

Tejon Ranch Co. (NYSE:TRC) reported its Q4 and full-year 2024 financial results, marking growth in multiple areas. Q4 GAAP net income increased 186% to $4.5 million ($0.17 per share), while revenues rose 15% to $21.6 million compared to Q4 2023.

The Tejon Ranch Commerce Center (TRCC) drove year-over-year revenue growth, with its industrial portfolio of 2.8 million square feet maintaining 100% occupancy. The company announced a joint venture with Dedeaux Properties to build a 510,385 square foot warehouse facility. The commercial portfolio stands at 96% leased, with total TRCC comprising 7.1 million square feet.

Key developments include the construction of Terra Vista at Tejon Phase 1 (228 residential units) and a 700,000+ square foot distribution facility for Nestlé USA. Full-year 2024 results showed net income of $2.7 million ($0.10 per share), with total revenues increasing 1% to $54.7 million. The company maintains strong liquidity with $146.8 million available through cash, securities, and credit lines.

Tejon Ranch Company (NYSE: TRC) has appointed Matthew Walker as its new President and CEO, effective March 31, 2025. Walker, who brings 24 years of experience from Lowe Enterprises, will initially join as COO on March 6, 2025. He succeeds Gregory S. Bielli, who announced his retirement after serving since 2013.

Walker, currently Executive Vice President at Lowe, brings extensive experience in resort and residential development, master planned communities, and joint venture formation. He holds a Bachelor of Architecture from Cornell University and an MBA from UCLA Anderson School of Management.

The transition comes at a important time for Tejon Ranch, which is focusing on expanding its Tejon Ranch Commerce Center and developing three master planned communities. Under Bielli's leadership, the company developed the Outlets at Tejon, secured various entitlement approvals, and launched Terra Vista at Tejon. Bielli will continue serving as an executive advisor and Board Director after his retirement.

Tejon Ranch Co. (NYSE:TRC) reported Q3 2024 financial results with a net loss of $1.8 million ($0.07 per share), compared to a $0.3 million loss in Q3 2023. Revenue increased to $14.6 million from $12.0 million year-over-year. The company's Tejon Ranch Commerce Center maintains 100% occupancy of its 2.8 million square feet industrial portfolio. Notable developments include the upcoming Terra Vista at Tejon residential project, a new 510,500 square foot joint venture with Dedeaux Properties, and a Nestlé USA distribution facility under construction. The Outlets at Tejon achieved over 90% occupancy in its 10th anniversary year.

Tejon Ranch Co. (TRC: NYSE) has elected four new directors to its Board: Denise Gammon, Kenneth Yee, Jeff McCall, and Eric Speron. Three directors joined effective November 4, 2024, while Yee will join on December 11, 2024, following Geoffrey Stack's retirement. The appointments are part of a strategic plan to enhance board diversity and expertise in financial analytics and master-planned developments. The new directors bring extensive experience in banking, finance, law, accounting, land development, and business operations. Gammon has managed $5B in land transactions, Yee has handled $2B in real estate debt deals, and McCall has managed over $12B in assets at Quarterra Group.