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

Spirit of America Management Corp NY grew its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 45.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,255 shares of the financial services provider's stock after buying an additional 700 shares during the quarter. Spirit of America Management Corp NY's holdings in Texas Pacific Land were worth $2,988,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPL. Vanguard Group Inc. increased its position in Texas Pacific Land by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after buying an additional 260,278 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Texas Pacific Land by 34.5% in the fourth 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 first 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. lifted its holdings in 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 buying an additional 200,841 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Texas Pacific Land by 21.8% during the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after buying an additional 40,185 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Down 0.7%

Shares of Texas Pacific Land stock opened at $1,079.75 on Friday. The business's 50 day simple moving average is $1,250.85 and its 200-day simple moving average is $1,280.97. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 54.01 and a beta of 1.12. Texas Pacific Land Corporation has a twelve month low of $724.75 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results 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 net margin of 63.24% and a return on equity of 40.04%. The business 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 paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio is presently 32.02%.

Texas Pacific Land 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.

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