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.
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Tejon Ranch Co. (NYSE: TRC) announces the return of Nathan Keith as Senior Vice President of Real Estate, pivotal for the Centennial mixed-use community project in northwest Los Angeles County. Keith's prior experience includes guiding the project's successful entitlement processes in 2018 and 2019. His return follows a court ruling necessitating additional environmental analysis for the project. The Centennial plan envisions 19,300 homes (including 3,480 affordable units) and 10.1 million square feet of commercial space in a region designated as an Economic Opportunity Area, reinforcing Tejon's commitment to development.
Tejon Ranch Co. faces a recent ruling from a Los Angeles County Superior Court, which mandates the County to address certain minor inadequacies in the Centennial project environmental impact report before moving forward with additional permits. This ruling halts the 2019 approvals of the master-planned community, which aims to provide over 19,300 housing units, including 3,480 affordable ones, in northwest Los Angeles County.
The company remains committed to the project's development and is exploring options to comply with the Court's requirements to resume progress.
Tejon Ranch Co. (NYSE:TRC) reported its financial results for Q4 and fiscal year 2022, highlighting a net income of $2.0 million for Q4, down from $3.4 million in 2021. Total revenues rose to $20.7 million in Q4, a 7% increase from the previous year, driven by a 65% boost in farming revenues. For the full year, net income totaled $15.8 million, with revenues up 36% to $88.7 million. A significant factor was a 108% rise in commercial/industrial revenue due to land sales. The company plans to expand its industrial footprint in 2023, despite potential fluctuations in income due to commodity prices and water allocations.
Tejon Ranch Co. (NYSE: TRC) and Majestic Realty Co. have announced a full-building lease for a new 446,000-square-foot industrial distribution facility for Sunrise Brands, set to begin construction in Q1 2023 and complete by Q1 2024. Sunrise will temporarily occupy 240,000 square feet until the new building is ready. This follows the leasing of an adjacent 629,274-square-foot center, with the Tejon Ranch Commerce Center boasting 100% occupancy. The partnership highlights the growing demand for industrial space in Kern County, driven by strategic location and labor access.
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