Flower City Capital Invests $485,000 in Texas Pacific Land Corporation (NYSE:TPL)

Flower City Capital purchased a new position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 366 shares of the financial services provider's stock, valued at approximately $485,000. Texas Pacific Land comprises 0.3% of Flower City Capital's investment portfolio, making the stock its 19th largest holding.

Several other large investors also recently modified their holdings of TPL. GAMMA Investing LLC increased its stake in shares of Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after purchasing an additional 361,572 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after purchasing an additional 260,278 shares during the last quarter. Invesco Ltd. increased its stake in shares of Texas Pacific Land by 203.4% during the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after purchasing an additional 200,841 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Texas Pacific Land by 34.5% during the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after purchasing an additional 159,597 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Texas Pacific Land by 943.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after buying an additional 109,455 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Up 0.2%

TPL opened at $1,082.23 on Friday. The company has a 50 day moving average of $1,247.78 and a 200 day moving average of $1,276.83. The company has a market cap of $24.88 billion, a PE ratio of 54.14 and a beta of 1.12. Texas Pacific Land Corporation has a 12 month low of $724.75 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate of $5.27 by ($0.03). The business had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.02%.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.

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