Tejon Ranch Stock Price, News & Analysis

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.

Tejon Ranch Co. (NYSE: TRC) has finalized the sale of 17.1 acres in the Tejon Ranch Commerce Center to Scannell Properties for a new automated manufacturing facility. This 270,000-square-foot plant will serve as Plant Prefab's first automated hub, aiming to produce custom-prefabricated building components more efficiently. The facility is expected to enhance Plant Prefab's production capacity, responding to a 175% increase in production contracts over the past year. Construction is set to begin production in January 2023, supporting the company's mission to address California's housing crisis sustainably.

Tejon Ranch Co. (NYSE: TRC) has reached an agreement with Climate Resolve to enhance the Centennial master planned community, committing to include 3,480 affordable housing units and achieving net zero carbon project status exceeding California's climate goals. The community will feature advanced wildfire resilience measures and aims to install nearly 30,000 electric vehicle chargers. The lawsuit challenging the project's approval has been dismissed, allowing Tejon Ranch to progress with the necessary legislative approvals, positively impacting housing supply in Los Angeles County.