Tejon Ranch Co. has outlined a forward-looking strategy centered on four key pillars: income, growth, governance, and culture. The company plans to implement a clear framework for capital allocation, which includes establishing investment hurdles and closely analyzing existing investment performance. Tejon Ranch aims to prioritize investments in income-producing assets, using joint ventures for capital-intensive projects to leverage partner expertise while avoiding dilution. For smaller, high-yield opportunities, the company intends to invest directly from its balance sheet. Additionally, efforts are underway to identify new revenue sources and expand the current revenue base. The strategy emphasizes disciplined capital management, cost controls, improved operating margins, and a focus on delivering returns to shareholders.