TRC on NYSE

Tejon Ranch

Logo: tejonranch.com5

Land owner in California, USA

Tejon Ranch Company (NYSE: TRC), based in Lebec, California, is one of the largest private landowners in California. The company was incorporated in 1936 to organize the ownership of a large tract of land that was consolidated from four Mexican land grants acquired in the 1850s and 1860s by ranch founder Edward Fitzgerald Beale.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

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  • TickerTRC on NYSE1
  • IndustryReal Estate1
  • HeadquartersLebec, United States1
  • Websitewww.tejonranch.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address4436 Lebec Road, Po Box 1000, Lebec, Ca 932436
  • Filer categoryNon-accelerated filer, Smaller reporting company6
  • LEI549300TMNDO77VJ6J1114
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O RL&F Service Corp., 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 21211314

Tejon Ranch Company (NYSE: TRC), based in Lebec, California, is one of the largest private landowners in California. The company was incorporated in 1936 to organize the ownership of a large tract of land that was consolidated from four Mexican land grants acquired in the 1850s and 1860s by ranch founder Edward Fitzgerald Beale.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

29.2%Gross margin8
-16.0%Operating margin8
0.2%Net margin8
18.4%Revenue growth, 20258
0.0%Return on equity8

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs98¢$48.4M
  • Income tax2¢$1.1M
  • Profit0¢$75.0K

Out of $49.6M in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$6.1M

Out of $6.1M of cash from operations.8

Financial statements

Revenue9108$49.6M in 2025+0% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $49.5M$49.5M20192020: $37.8M$37.8M2020−24%2022: $79.2M$79.2M2022+109%2023: $44.7M$44.7M2023−44%2024: $41.9M$41.9M2024−6%2025: $49.6M$49.6M2025+18%
Gross profit108$14.5M in 2025−54% since 2022
0$10.0M$20.0M$30.0M$40.0M2022: $31.2M$31.2M20222023: $13.0M$13.0M2023−58%2024: $12.8M$12.8M2024−2%2025: $14.5M$14.5M2025+13%
Operating income111213108-$8.0M in 2025+456% since 2019
-$10.0M0$10.0M$20.0M2019: -$1.4M-$1.4M20192020: -$6.7M-$6.7M2020+371%2021: -$260.0K-$260.0K2021−96%2022: $13.7M$13.7M20222023: -$3.7M-$3.7M20232024: -$9.2M-$9.2M2024+149%2025: -$8.0M-$8.0M2025−14%
Net income111213108$75.0K in 2025−99% since 2019
-$5.0M0$5.0M$10.0M$15.0M$20.0M2019: $10.6M$10.6M20192020: -$740.0K-$740.0K20202021: $5.3M$5.3M20212022: $15.8M$15.8M2022+196%2023: $3.3M$3.3M2023−79%2024: $2.7M$2.7M2024−18%2025: $75.0K$75.0K2025−97%
Fiscal year2019202020212022202320242025
Revenue$49.5M9$37.8M9$79.2M10$44.7M8$41.9M8$49.6M8
Gross profit$31.2M10$13.0M8$12.8M8$14.5M8
Operating expenses$55.9M13$65.5M10$48.4M8$51.1M8$57.5M8
Operating income-$1.4M11-$6.7M12-$260.0K13$13.7M10-$3.7M8-$9.2M8-$8.0M8
Income before tax$9.2M13$23.2M10$5.6M8$3.7M8$1.2M8
Income tax$4.0M11$829.0K12$3.8M13$7.4M10$2.3M8$976.0K8$1.1M8
Net income$10.6M11-$740.0K12$5.3M13$15.8M10$3.3M8$2.7M8$75.0K8
Earnings per share$0.4111-$0.0312$0.2013$0.6010$0.128$0.108$0.008
Earnings per share (diluted)$0.4011-$0.0312$0.2013$0.5910$0.128$0.108$0.008
Shares (weighted, basic)26.3M shares1326.5M shares1026.7M shares826.8M shares826.9M shares8
Shares (weighted, diluted)26.4M shares1326.7M shares1026.7M shares826.8M shares826.9M shares8

Compare Tejon Ranch with another company

The story

In 1843, the Mexican government made grants for the land that became three ranches: the 26,626-acre (107.75 km2) Rancho Los Alamos y Agua Caliente; the 97,617-acre (395.04 km2) Rancho El Tejon; and the 22,178-acre (89.75 km2) Rancho Castac. A fourth tract, the 48,800-acre (197 km2) Rancho La Liebre, was granted in 1846.

At the urging of Edward Beale, Superintendent of Indian Affairs in California, the Sebastian Indian Reservation was established in 1853 on Rancho El Tejon, and Fort Tejon was established by the U.S. Army in 1854 on Rancho Castac. These were federal projects, consisting of major developments and improvements, on what was the Mexican grantees' private land.

In 1855, Edward Beale purchased Rancho La Liebre. The Army abandoned Fort Tejon in 1864. Beale bought Rancho El Tejon and Rancho de los Alamos y Agua Caliente in 1865, and Rancho Castac in 1866. With the purchase of these four Mexican land grants, Beale created the present day Tejon Ranch.

Beale's son, Truxtun Beale, sold the Tejon Ranch in 1912 to a syndicate of investors headed by Los Angeles Times publisher Harry Chandler and land developer Moses Sherman. Both also had extensive holdings in the San Fernando Valley. In 1917, some surviving Kitanemuk Indians lived on Tejon Ranch.

In 1936, the Tejon Ranch Company became a public company, with the Chandler–Sherman group retaining a controlling interest. The Chandlers' Times Mirror Company sold its stake in 1997. It has been publicly listed since 1973 and most recently has been on the New York Stock Exchange.

"In 1916 El Tejon Land Company of Kern County filed suit to evict the El Tejon Indians from the El Tejon Ranch, which the Indians owned under Spanish and Mexican laws that the United States had agreed to uphold under the Treaty of Guadalupe Hidalgo. The company had been renting the land from the Indians and employing Indians to work on it. They began to withhold rent payments, and the Indians, fearful of losing their jobs, dared not demand the rent be paid. After waiting the requisite number of years, the company claimed ownership of the land on the basis of peaceful possession."

Hunting

In 2012, the ranch suspended all hunting after a 2011 California Department of Fish and Game investigation into the illegal killing of mountain lions. The investigation was spurred by a whistleblower named Bron Sanders who filed a lawsuit on May 3, 2011. Sanders claimed to have witnessed the killing of 20 mountain lions, which he claimed were motivated by the ranch managers' views on the California Wildlife Protection Act of 1990, which banned the hunting of mountain lions for sport. Ranch officials initially called Sanders' allegations "ridiculous and untrue". The investigation supported Sanders' claims that mountain lions were illegally killed. Tejon Ranch agreed to pay $136,500 in fines and restitution for the killing of 11 mountain lions.

From Wikipedia’s article on Tejon Ranch, shared under CC BY-SA 4.0.7

Leadership

Who has led Tejon Ranch, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (38)

Timeline

  1. Mar 31, 2026New chief executive Matthew H. Walker becomes CEO16
  2. Oct 1, 2014New chief executive Gregory S. Bielli becomes CEO17
  3. Jul 2, 2003New chief executive Robert A. Stine becomes CEO18

Filings

368 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 37 major events, 235 insider forms, 15 large holders, 61 other. The latest 20:

  1. Oct 8, 2026SCHEDULE 13G/A EDGAR
  2. Aug 6, 202610-Q EDGAR
  3. Aug 6, 20268-K EDGAR
  4. Jul 30, 20268-K EDGAR
  5. Jul 28, 20264 EDGAR
  6. Jul 28, 20264 EDGAR
  7. Jul 28, 20264 EDGAR
  8. Jul 15, 20264 EDGAR
  9. Jul 15, 20264 EDGAR
  10. Jul 15, 20264 EDGAR
  11. Jul 15, 20264 EDGAR
  12. Jul 15, 20264 PRIMARY DOCUMENT EDGAR
  13. Jul 15, 20264 PRIMARY DOCUMENT EDGAR
  14. Jul 15, 20264 PRIMARY DOCUMENT EDGAR
  15. Jul 15, 20264 PRIMARY DOCUMENT EDGAR
  16. Jul 15, 20264 PRIMARY DOCUMENT EDGAR
  17. Jul 14, 20264 PRIMARY DOCUMENT EDGAR
  18. Jul 14, 2026SCHEDULE 13G/A EDGAR
  19. May 15, 20268-K EDGAR
  20. May 11, 202610-Q EDGAR

The 368 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

15 open-market trades by officers, directors and large owners since October 2021: 5 buys and 10 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 11, 2025Brown Brett AExecutive Vice President / CFOSale5,356$18.55$99.4KForm 4
Dec 12, 2024STACK GEOFFREY LDirectorSale2,500$15.60$39.0KForm 4
Dec 10, 2024STACK GEOFFREY LDirectorSale2,500$16.00$40.0KForm 4
Dec 9, 2024STACK GEOFFREY LDirectorSale5,000$16.12$80.6KForm 4
Dec 2, 2024STACK GEOFFREY LDirectorSale2,500$16.10$40.2KForm 4
Nov 26, 2024STACK GEOFFREY LDirectorSale2,500$16.10$40.2KForm 4
Nov 25, 2024STACK GEOFFREY LDirectorSale5,000$16.25$81.2KForm 4
Nov 22, 2024STACK GEOFFREY LDirectorSale6,000$15.77$94.6KForm 4
Nov 15, 2024STACK GEOFFREY LDirectorSale2,338$16.00$37.4KForm 4
Nov 13, 2024STACK GEOFFREY LDirectorSale2,000$16.40$32.8KForm 4
Sep 27, 2023TOWERVIEW LLC10% ownerBuy4,888$15.83$77.4KForm 4
Sep 26, 2023TOWERVIEW LLC10% ownerBuy7,785$15.86$123.5KForm 4
May 25, 2023TOWERVIEW LLC10% ownerBuy3,609$16.56$59.8KForm 4
May 24, 2023TOWERVIEW LLC10% ownerBuy2,889$16.60$48.0KForm 4
Mar 24, 2023TOWERVIEW LLC10% ownerBuy11,329$17.00$192.6KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Towerview LLC3,845,500$71.9M47.2%No change
Horizon Kinetics Asset Management LLC2,011,689$37.6M0.4%+109,083
Nitor Capital Management LLC1,798,905$33.6M22.7%+117,341
BlackRock, Inc.1,624,752$30.4M0.0%+68,197
Dimensional Fund Advisors LP1,368,551$25.6M0.0%−89,883
Vanguard Portfolio Management LLC1,062,986$19.9M0.0%+42,813
Vanguard Capital Management LLC986,230$18.4M0.0%+3,513
Bulldog Investors, LLP793,449$14.8M3.3%+914
Gamco Investors, Inc. Et Al710,339$13.3M0.1%−27,600
Lee Danner & Bass Inc675,425$12.6M0.7%−20,000
Geode Capital Management, LLC635,379$11.9M0.0%+38,780
Foundation Resource Management Inc514,024$9.6M1.1%+1,710
State Street Corp506,294$9.5M0.0%+1,240
Concurrent Investment Advisors, LLC448,677$8.4M0.1%+913
Renaissance Technologies LLC368,648$6.9M0.0%+19,900
Royce & Associates LP313,818$5.9M0.0%No change
Gem Investment Advisors, LLC309,985$5.8M3.6%No change
Gabelli Funds LLC269,000$5.0M0.0%−11,000
Northern Trust Corp208,486$3.9M0.0%+14,695
Charles Schwab Investment Management Inc194,740$3.6M0.0%+1,841
Oppenheimer & Close, LLC164,766$3.1M1.9%No change
Vanguard Fiduciary Trust Co163,692$3.1M0.0%+1,817
Morgan Stanley154,658$2.9M0.0%+15,109
Goldman Sachs Group Inc148,130$2.8M0.0%+53,132
Quantinno Capital Management LP113,871$2.1M0.0%+9,865

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

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