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. reports developments for a diversified real estate development and agribusiness company with operations in commercial and industrial real estate, multifamily housing, resort and residential real estate, mineral resources, farming, and ranch operations.
Company news regularly covers financial results and Adjusted EBITDA, leasing and development activity at Tejon Ranch Commerce Center, Terra Vista at Tejon multifamily activity, farming performance, mineral resources, ranch operations, joint venture activity, and corporate-governance matters such as board structure and shareholder meeting rights.
The United States District Court, Central District of California, has granted summary judgment in favor of the US Fish & Wildlife Service and Tejon Ranch Co. regarding the 2013 approval of a Multi-Species Habitat Conservation Plan. This plan protects the California condor and other species on Tejon Ranch. The court dismissed all arguments from the Center for Biological Diversity and other plaintiffs, labeling them as unsupported. The lawsuit, filed in April 2019, seeks to obstruct development projects at Tejon Ranch, which aims to address California's housing crisis.
Tejon Ranch Co. (NYSE:TRC) reported its financial results for the three- and nine-months ended September 30, 2020. For Q3 2020, net income attributable to common stockholders was $0.4 million, or $0.02 per share, up from $47,000 in Q3 2019. Revenues grew to $15.1 million, with significant increases in farming segment revenues. However, year-to-date results show a net loss of $0.6 million, attributed to a 41% drop in commercial/industrial real estate revenues. The Company remains focused on ongoing development projects and maintaining cash flow amid the pandemic.