Tejon Ranch Company (TRC) is a real estate development and agri-business company committed to responsibly utilizing its land and resources to meet the housing, employment, and lifestyle needs of Californians and create value for shareholders. The company’s prime asset is approximately 270,000 acres of contiguous, largely undeveloped land that, at its most southerly border, is 60 miles north of Los Angeles. Tejon Ranch is the same size as Hong Kong and is 40% the size of Rhode Island.

The company’s 3 major development projects are the Tejon Industrial Complex, Tejon Mountain Village and Centennial. As commercial, industrial and residential entitlements are pursued, the stock’s valuation ought to expand.

We expect the value of land to significantly increase as further entitlement processes are completed, which involve state and county approval along with the expected subsequent law suits by environmental groups. As management succeeds in its vision of developing Tejon Ranch over the next 25 years, the valuation per acre should dramatically increase.

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