PALO ALTO, Calif., May 22, 2025 /PRNewswire/ -- Glenbrook Capital Management ("Glenbrook" or "we"), a long-time shareholder of Tejon Ranch Co. (NYSE:TRC) ("Tejon" or the "Company") and owner of approximately 1.1% of outstanding shares of Tejon, today urged Tejon's Board of Directors (the "Board") to implement PFS Trust's shareholder proposal to allow Tejon shareholders owning a combined 10% of outstanding shares to call a special meeting of shareholders (the "Special Meeting Proposal"). Glenbrook also quest ...

DALLAS, May 19, 2025 /PRNewswire/ -- AT&T Inc. ("AT&T") has learned that TRC Capital Investment Corporation ("TRC") has made an unsolicited "mini-tender" offer, dated May 5, 2025. TRC has offered to purchase up to 4 million shares of AT&T common stock at $26.38 per share. The offer expires on June 3, 2025, unless extended by TRC.AT&T is in no way associated with TRC and recommends that shareholders reject this unsolicited offer.AT&T cautions shareholders that the offer is being made at a price below the cur ...

TEJON RANCH, Calif., May 19, 2025 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (NYSE:TRC), (“Tejon” or the “Company”), a diversified real estate development and agribusiness company, today announced that, based on the final vote count certified by the independent election inspector following the Company’s 2025 Annual Meeting of Shareholders, Tejon shareholders have voted to re-elect Steven Betts, Gregory Bielli, Denise Gammon, Anthony Leggio, Jeffrey McCall, Norman Metcalfe, Eric Speron, Daniel Tisch and Kenneth Yee ...

Core Viewpoint - Tejon Ranch Co. is urging shareholders to vote for its 10 director nominees in the upcoming Annual Meeting, emphasizing the importance of maintaining a qualified board for the company's long-term growth and strategic value creation [1][2][6]. Group 1: Company Strategy and Governance - The Board of Directors and executive team have positioned Tejon for long-term growth, highlighting the critical nature of the upcoming vote for shareholders [2]. - Tejon's directors possess essential expertise in California's commercial and residential real estate industry, which is vital for the company's success [4]. - Independent third-party proxy advisory firms, including ISS, Glass Lewis, and Egan-Jones, have endorsed Tejon's director nominees, recognizing their capability to drive the company forward [5]. Group 2: Opposition and Risks - Bulldog Investors is attempting to replace Tejon's directors with individuals lacking relevant experience in real estate development, which could jeopardize the company's growth [3]. - Bulldog's campaign is characterized by a lack of a credible plan, raising concerns about its potential impact on Tejon's strategic initiatives [3]. Group 3: Voting Information - Shareholders are encouraged to vote for Tejon's 10 director nominees using the WHITE proxy card, with the company emphasizing that every vote is important regardless of the number of shares owned [6][7].

TEJON RANCH, Calif., May 09, 2025 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (NYSE: TRC), (“Tejon” or the “Company”), a diversified real estate development and agribusiness company, today distributed a letter to shareholders signed by Kern County leaders in support of Tejon’s Board and management and opposing efforts by Bulldog Investors (“Bulldog”) that would jeopardize the development of Tejon’s Master Planned Communities. The letter, signed by State Senators Shannon Grove and Melissa Hurtado, State Assemblymemb ...

For the transition period from to Commission file number: 1-07183 TEJON RANCH CO. (Exact name of registrant as specified in its charter) Delaware UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporati ...

TEJON RANCH, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the three-months ended March 31, 2025. “Tejon Ranch is a one-of-a-kind asset, and I’m honored to take the helm of this incredible company,” said Matthew H. Walker, who assumed the duties of President and CEO of Tejon Ranch Co. on April 1, 2025. “Our first quarter results highlight the consistency of our long-t ...

Bulldog’s Nominees Lack the Experience Needed to Guide Tejon Independent Third Parties Recognize Deficiencies in Bulldog’s Nominees and Campaign Tejon Urges Shareholders to Vote the WHITE Proxy Card "FOR” ALL 10 of the Company’s Director Nominees TODAY TEJON RANCH, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (NYSE:TRC), (“Tejon” or the “Company”), a diversified real estate development and agribusiness company, today mailed a letter to shareholders in connection with its upcoming Annual Meeting ...

Tejon Ranch Company (TRC) FY Conference Summary Company Overview - Tejon Ranch Company operates on a single property of 270,000 acres, focusing on extracting value from this unique asset [7][8] - The company is not a REIT but has a diversified business model that includes land development, agriculture, and industrial operations [7][18] Key Industry Insights - California's regulatory environment presents high barriers to entry for new master plan communities, creating scarcity and driving value [9][12] - The state faces a chronic housing shortage of 2.5 million homes, leading to sustained demand for the planned 35,000 homes by Tejon Ranch [12][15] - The company is strategically located to benefit from population migration trends in Southern California and the Southern San Joaquin Valley [10][11] Growth Drivers 1. **Population Migration**: There is a significant movement from Central Los Angeles to suburban areas, which Tejon Ranch is positioned to capture [10][12] 2. **Housing Shortage**: The lack of new homes in California is driving prices higher, creating demand for new developments [12][15] 3. **Industrial Demand**: The growth of e-commerce and the need for industrial space have led to the development of 7 million square feet of industrial space at the Tejon Ranch Commerce Center (TRCC) [14][15] Business Model and Strategy - The company operates through three main segments: 1. **Land Company**: High-margin, low-cost fee streams from agricultural and land leases [24][25] 2. **REIT Operations**: Stable cash flows from industrial, retail, and multifamily developments [18][24] 3. **Master Planned Community Development**: Converting unentitled land into valuable residential and commercial properties [25][30] - The company has created significant value through its entitlement and development processes, potentially increasing land value by 25 to 100 times [25][26] Financial Performance - Cumulative cash flow from commercial and industrial development at TRCC has exceeded $110 million, with industrial land prices increasing nearly 1500% over 25 years [26][30] - Current industrial land prices range from $25,000 to $400,000 per acre, reflecting substantial appreciation [26][30] Challenges and Risks - The company is currently facing a contested election with a short-term shareholder trying to disrupt its long-term growth strategy [39][40] - Navigating California's complex land use entitlement process remains a significant challenge, but the company has established strong local support [51][52] Future Outlook - Tejon Ranch is focused on leveraging its strategic location and existing entitlements to drive long-term growth [36][42] - The company aims to capitalize on the interconnectedness of its various business segments to create a sustainable ecosystem for growth [15][19] Conclusion - Tejon Ranch Company is well-positioned to benefit from macroeconomic trends in California, including population migration and housing shortages, while navigating the complexities of the regulatory environment to unlock significant value from its land assets [36][42]

Core Viewpoint - Tejon Ranch Co. has received recommendations from three leading proxy advisory firms to support its 10 director nominees in the upcoming Annual Meeting of Shareholders, emphasizing the importance of maintaining the current Board to ensure the company's long-term growth strategy [1][2][3]. Group 1: Proxy Advisory Recommendations - Egan-Jones, along with ISS and Glass Lewis, has recommended that Tejon shareholders vote "FOR" all 10 of the company's highly-qualified director nominees [1][2]. - The support from these advisory firms indicates a recognition of the stakes involved for Tejon, reinforcing the belief that the current Board is best suited to execute the company's strategic priorities [2][3]. Group 2: Company Background and Strategic Focus - Tejon Ranch Co. is a diversified real estate development and agribusiness company, with a principal asset of 270,000 acres of land located approximately 60 miles north of Los Angeles [5]. - The company has made significant progress in obtaining entitlements for developments, with 16,000 homes fully permitted, litigated, and entitled, which are expected to generate substantial returns once developed [5]. Group 3: Importance of Shareholder Voting - The Annual Meeting is scheduled for May 13, 2025, and shareholders are urged to vote "FOR" all 10 director nominees to protect their investment value [3][4]. - The company emphasizes that every vote is important, regardless of the number of shares owned, and provides instructions for voting via the internet or mail [4].