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Trophy-property ranches hit the market as more heirs chose to sell

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Trophy-property ranches hit the market as more heirs chose to sell


Owned by the same family for more than 116 years, Reynolds Ranch is now on the market for $30.7 million.

Courtesy of California Outdoor Properties

For more than 116 years, Deanna Davis’ family has owned Reynolds Ranch, spanning 7,600 acres in California’s Central Coast region. With the heirs in disagreement over the homestead’s future, Reynolds Ranch is now on the market for $30.7 million.

“It’s so hard to make decisions together as a family about the ranch,” she told CNBC. “If I had the cash, I would buy the whole thing right now and cash everybody out and start over and take the title in a LLC.”

It’s a common predicament for family trees that have too many branches, said Davis, who runs the ranch. Her mother, who died last December, was the last family member who grew up on Reynolds Ranch. Now the family is scattered across the country and some of her relatives live overseas. Some family members who can only visit once or twice a year would rather cash out.

Families like Davis’ are increasingly choosing to sell these long-held properties, high-end ranch brokers told CNBC.

The legacy properties are in big demand — even if not at pandemic highs — as deep-pocketed buyers crave wide open skies and a slower pace of life. The so-called “Yellowstone” effect remains in full force, with fans of the Paramount show seeking sprawling properties in Montana, Wyoming, Colorado and other Western states.

“All I know is whoever buys this property, when they sit on the porch in the afternoon, sipping their margarita or iced tea, they will think they landed in paradise,” Davis said.

‘Nothing quite like it’

Ranch brokerage Live Water Properties currently has $700 million in listing inventory, up from under $200 million in May 2024, according to Jackson Hole, Wyoming, broker Latham Jenkins. Many of these properties are legacy ranches that are on the market for the first time in generations, he said.

One such listing is Antlers Ranch in Meeteetse, Wyoming, which spans 40,000 acres — nearly three times the size of Manhattan — and is priced at $85 million. Antlers Ranch is on the market for the first time in five generations.

“Large historic properties are less common as many have been broken up and sold off,” Jenkins said. “Those that remain are highly desirable.”

These legacy ranches can demand a premium for reasons other than acreage, he said. Many historic ranches, like another one of his listings, Red Hills Ranch, a 190-acre property asking for $65 million, are surrounded by public lands that cannot be developed. Buyers are drawn to that privacy, as well as the ability to hike and fish nearby and see wildlife up close.

Red Hills Ranch, 25 miles outside Jackson WY, spans 190 acres and is listed for $65 million. Nestled in the Bridger-Teton National Forest, Red Hills Ranch was formerly the private guest ranch of late senator Herb Kohl.

Courtesy of Live Water Properties

“When you sit next to a running river, watching sunrises and sunsets, seeing an elk calf be born, there’s nothing quite like it,” Jenkins said.

Families usually come to him when the next generation has little interest in taking over the ranch or the heirs can’t come to an agreement. He described it as “bittersweet” when these one-of-a-kind properties become available for the first time in generations.

“That’s the thing with real estate. The land is perpetual, but the ownership is not,” he said.

Bill McDavid, a broker at Hall and Hall, represents Rocking Chair Ranch, a 7,200-acre Montana ranch that has been in the same family for more than seven decades.

“The adult children just got to the point where they realized, ‘No, it’s time for this family to move on and do something else,” he said of the sellers behind the property, which is listed at $21.7 million.

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Generational transfer of wealth

As ranching has been on the decline for decades, many multigenerational ranches have already changed hands, according to McDavid, who is based in Missoula, Montana. However, he is also seeing a rise in families looking to sell ranches they bought 20 to 30 years ago. The owners typically don’t have family ties to ranching and decided to buy trophy properties after making their fortune in tech or finance.

“For the buyer who made their money in the dot-com era, they had a grand idea about a family legacy, or whatever,” he said. “And then their kids got older, and they didn’t move to the ranch because nobody ever moved to the ranch. I mean, the dot-com guy, he came out and visited for at most the summer.”

He added of the heirs, “it was never in the cards for them to take over the ranch.”

Davis said she hopes a local ranching family will buy her California property, which has abundant grazing pastures and water sources. However, she said its likely a buyer from Silicon Valley will snap up Reynolds Ranch, which is only an hour and a half drive from San Jose and can accommodate a landing strip for a private plane.

John Onderdonk, who advises on agricultural properties for wealth manager Northern Trust, said the generational transfer of wealth is shaping the market. He is also a fourth-generation cattle rancher and said he is fortunate that his brothers agree on keeping their central California ranch in the family. However, he said many of the families he works with that choose to sell do so because of finances rather than disinterest.

“Real estate is a capital-intensive asset class, and if there isn’t liquidity in the portfolio, and the rest of the family isn’t able to support that, tough decisions come into play,” he said.

Listed at $21.7 million, Rocking Chair Ranch is on the market for the first time in over seven decades. The Philipsburg, MT, ranch spans 7,200 acres.

Courtesy of Hall and Hall

Legacy ranches, which may come with livestock and cropland, are attractive but require much due diligence, according to Ken Mirr of Mirr Ranch Group. For instance, these ranches are usually run by long-tenured managers who might leave when the property is sold and are hard to replace, said the Denver, Colorado-based broker. Or, they stay and have a rough time adjusting to new ownership, Mirr added.

“Those managers who have been here a long time start thinking that they own the place, right?” he said. “Sometimes that’s not the best person to be managing the ranch.”

Buyers expecting complete privacy can get a rude awakening. For instance, Mirr said, the previous family could have a longstanding verbal agreement with a neighbor allowing them to cross through their property. Depending on the state, members of the public may also be fish or wade in rivers located on private property, he said.

McDavid said buyers with deep pockets can have unrealistic expectations, wanting a rural property without sacrificing convenience. For instance, many want to live within 30 minutes’ driving distance of a major airport. Buyers also prefer move-in-ready properties, and multigenerational ranches may lack modern amenities.

As for the sellers, they get a windfall but aren’t able to replicate the lifestyle that comes with a legacy ranch.

“It’s just kind of a unique thing when you’re sitting on your porch and you look around and you own everything as far as your eyes can see,” Davis said. “It’s extremely difficult, the concept of losing the place, but on the other hand it’s going to make the next family very happy.”



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Dr Reddys, Titan & more: Top stocks to buy on December 3 — Check list – The Times of India

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December 3, 2025

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Dr Reddys, Titan & more: Top stocks to buy on December 3 — Check list – The Times of India


HSBC has a buy on Dr Reddys Labs with the target price at Rs 1,430. Analysts said that the semaglutide opportunity is intact for Dr Reddy’s in Canada, and it has replied to Health Canada’s queries on its application. GLP-1 drugs class remains the company’s focus segment and it is making progress in long-term drivers like biosimilars. Health Canada approval for generic semaglutide will be a key catalyst for the stock.Goldman Sachs has a buy on Titan with the target price at Rs 4,500. Analysts said the company expects a 15-20% growth in its jewellery business in the medium term. The company is maintaining jewellery margins despite headwinds. Its consolidated earnings before interest and taxes (EBIT) growth is ahead of standalone jewellery EBIT growth, driven by the strong trajectory of Caratlane, watches and other businesses. Titan’s eyewear business is strong in the premium segment and it is exploring how to address the mass market opportunity.Bernstein has and outperform rating on Trent with the target price cut to Rs 5,000. Analysts said they believe that the company’s revenue growth now is at a bottom. From here on the key drivers of recovery are like-for-like for split stores turns positive with base effect, about 20% compounded annual growth rate in Zudio network for three years, improved consumer demand cycle and growth in Westside business. On the other hand the key risk remains the competitive upsurge (more stores and replicating Zudio’s fashion sense and demand pull).CLSA has an outperform rating on Power Grid Corp with the target price at Rs 342. Analysts said that the company’s entry into the battery energy storage systems (BESS) should be a positive surprise with it emerging as a preferred bidder for a 150MW project. The company’s strategy of entering adjacencies such as BESS inside a transmission substation as it is likely to win the BESS concession at 11% above the price of lowest bid. They expect the company to scale-up its BESS portfolio to multi-GW with its competitive advantage of a 100 basis points (= 1 percentage point) lower interest rate versus private competitors.Macquarie has an outperform rating on ITC with the target price at Rs 480. Analysts said that the govt is proposing a new cess on cigarettes, which is likely to replace the compensation cess. This new levy increases uncertainty on taxation for the players, analysts said. In turn this could involve a transition period for things to adapt and normalise to any new system.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)





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Your FDs, RDs, SIPs Are Growing, But Are They Useless? The Biggest Mistake 90% Don’t Even Notice

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December 3, 2025

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Your FDs, RDs, SIPs Are Growing, But Are They Useless? The Biggest Mistake 90% Don’t Even Notice


Personal Finance Tips: Most of us keep saving money through fixed deposits (FDs), recurring deposits (RDs), provident fund (PF) accounts or systematic investment plans (SIPs) without giving it the thought it actually deserves. The bank deduction goes through, the balance inches up, the graph rises and everything looks fine on the surface.

But underneath this rhythm sits a truth that people are saving diligently without knowing what that money is supposed to do for them. This is a money trap that almost everyone walks into.

Investments keep running, but the purpose disappears. The amounts grow, but the “why” behind them turns vague. Once that emotional connection breaks, the whole act becomes routine and lifeless.

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Why Does This Happen?

Most people say they are saving for retirement or putting money aside for the future. These answers sound responsible but reveal very little. What does retirement look like? What kind of future are we imagining? When the mind cannot see a clear picture, it refuses to bond with the goal. That is when investing becomes a cold task.

FDs continue because they have always existed. SIPs continue because the automatic deduction is fixed. After a point, this cycle becomes tiring. Savings continue, but the inner reason for saving slips out of sight.

Purpose Mapping

Purpose Mapping reminds you that money is not meant to lie dormant but to support the kind of life you want. It brings your financial decisions back into your emotional world.

Instead of thinking in numbers, you begin by imagining how you actually want your daily life to look. A person may say, “I want the freedom to shift to a smaller town by the age of 45,” or “I want to be able to take a six-month career break without fear or stress,” or even, “If something serious happens at home, I should not feel helpless.”

These statements breathe. They feel real because you can see them unfolding.

Once these lived goals come into focus, the structure of your investments naturally aligns with them. The SIP you invest in each month becomes the cushion for a future career pause. The FD becomes a tool for near-term needs. The emergency fund becomes a source of mental peace rather than an afterthought. At this stage, you are no longer saving out of habit; you are investing with intention.

The emotional link becomes even stronger when each part of your financial plan is tied to a feeling (freedom, safety, peace or control). When money stands for something human, the motivation behind saving never dries up. And when you keep your goals visible, sometimes literally, sometimes in the back of your mind, the process becomes far easier. You no longer feel that you are losing money to deductions; you feel that every deduction is building a specific life.

Life keeps changing, and so should your goals. A review every year helps your investments change in step with you. When your plans move with your life, saving no longer feels like a burden. It becomes a way of staying ready for the life you want to live.



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American Eagle stock jumps 10% as it expects a big holiday, raises forecast after Sydney Sweeney ads

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December 2, 2025

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American Eagle stock jumps 10% as it expects a big holiday, raises forecast after Sydney Sweeney ads


An American Eagle advertisement featuring actress Sydney Sweeney on a billboard in Times Square in New York, US, on Thursday, Aug. 7, 2025.

Michael Nagle | Bloomberg | Getty Images

American Eagle issued bullish holiday guidance and raised its full-year forecast on Tuesday after posting better-than-expected quarterly results. 

The apparel company is expecting fiscal fourth quarter comparable sales to grow between 8% and 9% – about four times better than the 2.1% analysts had anticipated, according to StreetAccount.

American Eagle is now expecting its full year adjusted operating income to be between $303 million and $308 million – up from its previous range of $255 million to $265 million. 

American Eagle shares rose as much as 15% in extended trading.

The company beat third-quarter expectations on the top and bottom lines. 

Here’s how American Eagle did during the quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

  • Earnings per share: 53 cents vs. 44 cents expected
  • Revenue: $1.36 billion vs. $1.32 billion expected

The company’s reported net income for the three-month period that ended Nov. 1 was $91.34 million, or 53 cents per share, compared with $80.02 million, or 41 cents per share, a year earlier.  

Sales rose to $1.36 billion, up about 6% from $1.29 billion a year earlier.

The results are the first time investors are seeing a full quarter of impact from American Eagle’s splashy campaigns with Sydney Sweeney and Travis Kelce.

Companywide, American Eagle saw comparable sales grow 4%, better than the 2.7% analysts had expected, according to StreetAccount. While the business’s overall results topped expectations, they were primarily driven by Aerie, which saw comparable sales rise 11% and revenue jump about 13%. 

At American Eagle, where the campaigns were focused, comparable sales grew just 1%, worse than the 2.1% analysts had expected, according to StreetAccount. 

The company told CNBC the campaigns are “attracting more customers” and creating more attention around the brand, but the results show they have not yet been a major revenue driver.

However, they’re not having a major impact on profits, either. During the quarter, American Eagle’s operating margin was 8.3%, better than the 7.5% analysts had expected, according to StreetAccount. 

Beyond its marketing campaigns, American Eagle told CNBC it saw record revenue in its third quarter and that “strong momentum” carried into the current quarter, where it saw a “record breaking Thanksgiving weekend.”

The rosy holiday commentary comes after peers like Abercrombie & Fitch, Gap and Urban Outfitters posted better than feared results ahead of the crucial holiday shopping season. Investors have been watching discretionary retailers closely to look for slides in consumer demand because of tariffs, but many have proven resilient so far. They’re showing that for now, higher prices aren’t stopping consumers from shopping, as long as they feel like they’re getting good value for their money.

Industrywide holiday outlooks from outside consulting firms have been relatively murky, but the latest slate of earnings from discretionary retailers have been a positive omen for holiday sales. Plus, turnout during the so-called Turkey 5 shopping weekend, the five day stretch between Thanksgiving and Cyber Monday, was stronger than expected, according to the National Retail Federation.



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