Tejon Ranch Stock Price, News & Analysis

Tejon Ranch Co. (NYSE: TRC) and Majestic Realty Co. have completed the construction of a 629,274-square-foot industrial distribution facility at the Tejon Ranch Commerce Center (TRCC), securing a full-building lease with a major retailer. This facility is part of a larger development comprising over 2.5 million square feet at TRCC, which has shown significant growth in recent months. The strategic location and available space at TRCC, combined with tax incentives offered by Kern County, position it as an attractive option for companies looking to expand in California.

Tejon Ranch Co. (NYSE:TRC) reported strong financial results for Q3 and the first nine months of 2022, with net income of $10.2 million for Q3 and $13.8 million year-to-date. Revenues reached $33.9 million in Q3, driven by a significant land sale of 58 acres for $22 million and improved equity earnings from joint ventures. However, farming revenues fell by 29% due to lower pistachio yields and increased production costs. Adjusted EBITDA increased to $16.3 million in Q3 and $30.5 million year-to-date, highlighting strong cash flow performance.

Tejon Ranch (NYSE: TRC) announces the addition of two new Ariat stores at The Outlets at Tejon, Central California’s premier shopping venue. The 4,960 sq. ft. Ariat Outlet and a 2,922 sq. ft. Ariat Work Shop will cater to a loyal customer base passionate about quality Western and work apparel. Located strategically along Interstate 5 near Los Angeles and Bakersfield, the outlets boast over 40 exclusive retailers, enhancing the shopping experience for visitors.

Tejon Ranch Co. (NYSE:TRC) reported its Q2 2022 financial results, showing a net loss of $0.7 million, or $0.03 per share, down from a profit of $2.8 million in Q2 2021. Total revenues decreased to $10.9 million from $18.1 million, largely due to a 70% drop in commercial/industrial development revenues. However, farming revenues rose by 589% to $1.9 million, attributed to increased almond sales. The company remains optimistic about ongoing developments, including a significant land sale for $22 million and increased royalties from oil and cement.

Tejon Ranch Co. (NYSE:TRC) reported strong financial results for Q1 2022, achieving a net income of $4.3 million, a turnaround from a net loss in Q1 2021. Revenues surged to $23.2 million, up from $11.1 million, driven by a 230% increase in commercial/industrial revenues and a 67% rise in mineral resources revenues. The company announced plans for a new joint venture to develop a 446,400 sq ft industrial building and reported a successful land sale, fully leasing its commercial space. Adjusted EBITDA rose to $11.3 million from $3.0 million year-over-year.

TriCo Bancshares (NASDAQ: TCBK) has successfully merged with Valley Republic Bancorp (OTC: VLLX) as of March 25, 2022, significantly enhancing its asset base to approximately $10.1 billion. This merger is poised to expand lending capabilities and product offerings for clients. Valley Republic Bank's former branches reopened under the Tri Counties brand on March 28, providing an extensive branch network and access to over 37,000 surcharge-free ATMs. Additionally, TriCo has resumed its stock repurchase plan, allowing for the repurchase of up to 1,936,683 shares of common stock.

Tejon Ranch Co. (NYSE:TRC) reported significant growth in its financial results for Q4 and FY 2021. Q4 net income grew to $3.4 million from a net loss of $0.1 million in Q4 2020, with revenues reaching $19.4 million, a 90% increase year-over-year. For FY 2021, net income was $5.3 million compared to a loss of $0.7 million in 2020, with total revenues of $64.9 million, reflecting a 46% increase. Key drivers include land sales and a surge in mineral resources revenue. Despite growth, challenges from COVID-19, inflation, and supply chain disruptions may impact future results.

Tejon Ranch Co. has partnered with Majestic Realty Co. to create a joint venture for developing up to 495 apartments adjacent to the Outlets at Tejon, enhancing the Tejon Ranch Commerce Center. The apartments will cover approximately 22 acres and aim to provide housing for the workforce at TRCC, promoting work-life balance and reducing commuting challenges. Construction is projected to begin in late 2022, with the first units expected by late 2023. This initiative highlights Tejon Ranch Co.'s strategy to evolve into a mixed-use community.

Tejon Ranch Co (NYSE: TRC) has finalized the sale of 12.2 acres at the Tejon Ranch Commerce Center to Dedeaux Properties, a notable logistics real estate firm in Southern California. This parcel was the last remaining industrial site owned by TRC on the west side. The transaction highlights the appeal of TRCC, strategically located at the junction of I-5 and Highway 99. The region is currently experiencing supply constraints, leading to increased demand for logistics space. TRC plans further developments, including a 630,000 sq ft building and a multi-family project, to meet rising demand.