Raymond James & Associates lifted its stake in Texas Pacific Land Trust (NYSE:TPL) by 37.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,298 shares of the financial services provider’s stock after purchasing an additional 1,974 shares during the period. Raymond James & Associates owned 0.09% of Texas Pacific Land Trust worth $3,260,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Arlington Partners LLC acquired a new stake in shares of Texas Pacific Land Trust in the fourth quarter valued at approximately $1,608,000. Janney Montgomery Scott LLC acquired a new stake in shares of Texas Pacific Land Trust in the third quarter valued at approximately $292,000. Lagoda Investment Management L.P. increased its holdings in shares of Texas Pacific Land Trust by 102.7% in the third quarter. Lagoda Investment Management L.P. now owns 19,930 shares of the financial services provider’s stock valued at $8,054,000 after purchasing an additional 10,097 shares in the last quarter. EagleClaw Capital Managment LLC increased its holdings in shares of Texas Pacific Land Trust by 52.8% in the third quarter. EagleClaw Capital Managment LLC now owns 8,505 shares of the financial services provider’s stock valued at $3,423,000 after purchasing an additional 2,940 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Texas Pacific Land Trust by 1.9% in the fourth quarter. Swiss National Bank now owns 10,817 shares of the financial services provider’s stock valued at $4,831,000 after purchasing an additional 200 shares in the last quarter. 39.66% of the stock is owned by institutional investors and hedge funds.
TPL opened at $511.00 on Friday. Texas Pacific Land Trust has a 52 week low of $276.28 and a 52 week high of $569.99. The firm has a market cap of $4,052.71, a price-to-earnings ratio of 50.29 and a beta of 1.05.
Texas Pacific Land Trust (NYSE:TPL) last released its earnings results on Wednesday, January 31st. The financial services provider reported $2.92 EPS for the quarter. Texas Pacific Land Trust had a net margin of 63.97% and a return on equity of 135.47%. The firm had revenue of $38.32 million during the quarter.
The firm also recently announced an annual dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 9th were issued a dividend of $1.05 per share. This represents a yield of 0.21%. The ex-dividend date was Thursday, March 8th. This is a positive change from Texas Pacific Land Trust’s previous annual dividend of $0.35.
Separately, ValuEngine raised shares of Texas Pacific Land Trust from a “hold” rating to a “buy” rating in a report on Thursday, March 1st.
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About Texas Pacific Land Trust
Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.
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