Spirit of America Management Corp NY Increases Position in Texas Pacific Land Corporation (NYSE:TPL)

Spirit of America Management Corp NY raised its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 45.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,255 shares of the financial services provider's stock after purchasing an additional 700 shares during the quarter. Spirit of America Management Corp NY's holdings in Texas Pacific Land were worth $2,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after purchasing an additional 159,597 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Texas Pacific Land by 241,048.0% in the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after purchasing an additional 361,572 shares during the last quarter. Invesco Ltd. boosted its holdings in Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after purchasing an additional 200,841 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Texas Pacific Land by 21.8% in the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after acquiring an additional 40,185 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of TPL stock traded down $35.13 during trading hours on Monday, hitting $1,049.08. The company had a trading volume of 179,032 shares, compared to its average volume of 147,339. The company's fifty day moving average is $1,243.87 and its 200 day moving average is $1,274.30. Texas Pacific Land Corporation has a fifty-two week low of $724.75 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $24.12 billion, a PE ratio of 52.48 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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). Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%. The company had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.61%. Texas Pacific Land's dividend payout ratio is currently 32.02%.

Texas Pacific Land Company Profile

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.