2024-04-29 06:16:32 ET
Summary
- Tejon Ranch's earnings fell significantly in 2023 after a strong 2022.
- The company has lost near-term momentum, and its longer-term picture looks increasingly cloudy as well.
- The appointment of a new CEO may bring potential positive changes, but the structural headwinds and skepticism surrounding Tejon Ranch's development prospects remain.
- I don't see Tejon Ranch as an appealing inflation hedge and much prefer other land bank equities.
It’s been six months since I last covered California land holding and development company Tejon Ranch ( TRC ).
At the time, I had grown somewhat less pessimistic about the firm's prospects, raising my rating from "sell" to "hold"....
Read the full article on Seeking Alpha
For further details see:
Tejon Ranch: Avoid The Recent Pop As The Outlook Worsens (Rating Downgrade)