Tejon Ranch Stock Price, News & Analysis

Glenbrook Capital Management, owning 1.1% of Tejon Ranch Co. (NYSE:TRC), is urging the company's Board to implement PFS Trust's proposal allowing shareholders with 10% combined ownership to call special meetings. The proposal received over 49% shareholder support at the Annual Meeting, despite Tejon spending $3M to oppose it. Glenbrook expressed concerns about Tejon's recent $200 million shelf offering filed three days after the Annual Meeting, questioning its timing and potential impact on shareholder dilution. The activist investor highlighted that Andrew Dakos was elected to the board and criticized the company's management, particularly Daniel Tisch and Greg Bielli, for their "opacity and hostility." Glenbrook is particularly worried about Tejon's history of insider purchases in rights offerings leading to public shareholder dilution.

Tejon Ranch Co. (NYSE:TRC) announced the final voting results from its 2025 Annual Meeting of Shareholders. Shareholders voted to re-elect nine current board members and elect new director Andrew Dakos from Bulldog Investors to the Company's Board of Directors. The election results showed strong shareholder support for the company's current direction and long-term strategy in real estate development and agribusiness. Michael Winer, who served on the board for 24 years, will be departing. Notably, new board member Dakos stated that he believes Tejon Ranch's stock significantly undervalues its assets and expressed commitment to maximizing shareholder value.

Tejon Ranch Co. (NYSE: TRC) is urging shareholders to vote "FOR" their 10 director nominees on the WHITE Proxy Card ahead of the May 13, 2025 Annual Meeting. The company is facing a proxy contest from Bulldog Investors, who is attempting to install three directors. All three major proxy advisory firms - ISS, Glass Lewis, and Egan-Jones - have endorsed Tejon's nominees.

The company argues that Bulldog's candidates lack relevant experience in California real estate development, while Tejon's nominees bring crucial expertise in commercial and residential real estate. Tejon emphasizes that Bulldog's campaign could disrupt their progress in developing master-planned communities and threatens long-term value creation.

Tejon Ranch Co. (NYSE: TRC) has received strong support from Kern County leaders who signed a letter backing the company's Board and management while opposing Bulldog Investors' efforts that could threaten Tejon's Master Planned Communities development. The letter, endorsed by State Senators Shannon Grove and Melissa Hurtado, State Assemblymembers Stan Ellis and Dr. Jasmeet Bains, and Kern County Supervisors, emphasizes the crucial partnership between Tejon and Kern County.

Supervisor Leticia Perez highlighted Tejon Ranch as a \"crown jewel of Kern County\" with nearly two centuries of economic partnership. Supervisor Chris Parlier emphasized the Board's expertise in developing large-scale Master Planned Communities in California's challenging regulatory environment, contrasting their approach with what he characterized as Bulldog's \"serial proxy activist\" perspective.

Glenbrook Capital Management, owning 1.1% of Tejon Ranch Co. (NYSE:TRC), has announced that CalSTRS will vote in favor of two key proposals at Tejon's upcoming Annual Meeting on May 13, 2025. CalSTRS supports: 1) Item #4, which would allow shareholders owning a combined 10% of shares to call special meetings, and 2) Bulldog Capital's slate of nominees for the Board of Directors. Glenbrook, along with Bulldog and Harvey Capital, advocates for these changes to unlock shareholder value. The company urges shareholders to vote using Bulldog's GREEN Proxy Card to enable cumulative voting and maximize the impact of votes for Bulldog's Slate.

Tejon Ranch Co. (NYSE:TRC) reported its Q1 2025 financial results, marking the first quarter under new CEO Matthew H. Walker. The company posted revenues of $9.6 million, slightly up from $9.5 million in Q1 2024. However, TRC recorded a net loss of $1.5 million ($0.05 per share), compared to a $0.9 million loss in Q1 2024, primarily due to proxy contest expenses. The Tejon Ranch Commerce Center (TRCC) achieved full occupancy in its industrial portfolio with 2.8 million square feet of space and 95% occupancy in its commercial/retail portfolio. A significant milestone was reached with the opening of Terra Vista at Tejon, a 228-unit multi-family community. The company maintains strong liquidity of $118.5 million, including $32.9 million in cash and securities and $85.6 million available on its credit line.

Tejon Ranch Co. (NYSE:TRC) is urging shareholders to vote "FOR" all 10 of its director nominees at the upcoming Annual Meeting on May 13, 2025, in opposition to Bulldog Investors' proxy contest. Bulldog, a New Jersey-based hedge fund, is attempting to install three nominees that lack relevant real estate and California-specific development experience. The company emphasizes that all three major proxy advisory firms (Egan-Jones, Glass Lewis, and ISS) have recommended voting for Tejon's nominees. To enhance shareholder engagement, Tejon has committed to holding an Investor Day at NYSE in fall 2025, organizing a ranch event in 2026, and improving quarterly earnings communications. The company argues that Bulldog's nominees would disrupt the board's carefully balanced expertise in capital allocation, land use, and California regulatory strategy at a critical time for the company.

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.