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Tejon Ranch Co. Message Board

  • whbuncensored whbuncensored Mar 31, 2013 5:44 PM Flag

    Why is TRC priced so high?

     

    It's trailing P/E is over 100 at more than twice Book Value.
    Management's Discussion of future earnings is:
    During 2013, we will continue to invest funds in our joint ventures and internally toward the achievement of entitlements for our land and for infrastructure and building development within our active industrial developments. The process of securing entitlements for our land is a long, arduous process that can take several years and often involves litigation. During the next few years, our net income will fluctuate from year-to-year based upon commodity prices, production within our farming segment, and the timing of sales of land and the leasing of land within our industrial developments.

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    • Its priced that high on the anticipation that the land is worth much more than it is carried at book value. Probably a correct assumption, but it could be a long time before that value is realized. I own some shares, but they have not done anything in years.

      • 1 Reply to eotp01
      • TRC would test the patience of Methuselah.
        It hasn't attracted the hoped-for suburban development for two decades
        and should be trading at a substantial discount to its book value.

        The funds that own TRC are evidently rigging its stock-price in order
        to swindle their holders and gouge them for exorbitant management fees.

        Disclosure: no position

        Sentiment: Strong Sell

 
TRC
28.53-0.63(-2.16%)Nov 25 4:02 PMEST

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