- Tejon Ranch Co. (TRC, Financial) has achieved a 1,500% appreciation in industrial land prices at Tejon Ranch Commerce Center (TRCC).
- The company generated over $110 million in cumulative cash flows from TRCC since 2000.
- Tejon is facing a proxy contest as Bulldog Investors seeks control of nearly 30% of the board seats.
Tejon Ranch Co. (TRC), a diversified real estate development and agribusiness company, has filed an investor presentation focused on strategies for significant long-term value creation. This comes in anticipation of the Annual Meeting of Shareholders scheduled for May 13, 2025.
The company's strategy is centered around key areas, including the development of residential and industrial projects at the Tejon Ranch Commerce Center (TRCC), advancing master-planned communities (MPCs), and maximizing commodity businesses. Notably, TRCC, Tejon's first operational development, has seen substantial success with industrial land price appreciation of approximately 1,500% since its inception and has generated more than $110 million in cumulative cash flows from commercial and industrial development since 2000.
In 2024, Tejon's board enacted a succession plan, appointing a new CEO and four new directors as part of its leadership renewal efforts. Despite these measures, Tejon is currently embroiled in a proxy contest with Bulldog Investors, who aim to gain control of nearly 30% of the board. Tejon argues that Bulldog's nominees lack the necessary real estate and California-specific land development expertise.
Tejon emphasizes its commitment to executing a proven value-creation strategy that leverages the company's extensive asset base and regulatory expertise in California. Shareholders are urged to vote "FOR" Tejon's nominees via the company’s WHITE proxy card to ensure continuity in its long-term development strategy.
