Tejon Ranch reports Q2 EPS 4c vs. 1c last year

Reports Q2 revenue $9M vs. $8.6M last year. “In the second quarter 2024, we continued our strategic efforts to unlock the value of our entitled land assets and grow our diversified cash flow streams for the Company. Terra Vista at Tejon, our first multi-family apartment community located in our Tejon Ranch Commerce Center, has seen significant progress with its development timeline and is expected to have leasable units available in the second quarter of 2025. Ultimately, Terra Vista at Tejon will include up to 495 units, highlighting our commitment to fostering economic growth in our retail and industrial assets, while we address the existing housing needs of the employment base in the region and Tejon Ranch Commerce Center. This is for the current workforce of approximately 5,000 employees and future growth yet to come in the near future,” said Gregory S. Bielli, President and CEO of Tejon Ranch Co. “Additionally, we are proud to recognize the 10-year anniversary of the Outlets at Tejon Ranch, with an occupancy rate of 90% at June 30, 2024.” continued Bielli.