COMP <GO>

AHRT vs TRC // FREE CASH FLOW YIELD

AH Realty Trust Inc. (NYSE) VS. Tejon Ranch Co (NYSE) • 15-METRIC TALLY: AHRT 4 — TRC 3

■ METRIC PARITY

LAST: $6.08 (-0.49%) • MKT CAP: $455.8M

fcf-yield

—

LAST: $16.38 (-2.27%) • MKT CAP: $452.9M

fcf-yield

1.35%

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (AHRT VS. TRC) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	AHRT	TRC	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	6.50%	-1.30%	+7.80	AHRT	/roic <GO>
EV/EBITDA & P/E Valuation	8.5x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield ACTIVE	—	1.35%	—	TIE	/fcf-yield <GO>
Operating Margin	23.10%	-16.00%	+39.10	AHRT	/operating-margins <GO>
Net Profit Margin	1.90%	0.20%	+1.70	AHRT	/net-margins <GO>
Revenue Growth (YoY)	-51.50%	18.40%	-69.90	TRC	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	1/9	6/9	-5.00	TRC	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	51.3	56.4	-5.10	TRC	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	108.7x	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$455.8M	$452.9M	$2.9M	AHRT	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	AHRT REV	TRC REV	AHRT GROSS %	TRC GROSS %	AHRT FCF	TRC FCF
FY 2025	$209.9M	$49.6M	—	—	—	$6.1M
FY 2024	$433.2M	$41.9M	—	—	$112.0M	-$42.9M
FY 2023	$413.1M	$44.7M	—	—	$93.3M	$13.7M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

AHRT // BETA —

TRC // BETA —