Peters cleared waivers and was outrighted to Triple-A Round Rock on Tuesday.
Peters showed some pop for Texas with 12 homers in 52 games, but it wasn't enough for him to maintain his spot on the 40-man roster through the offseason. Kole Calhoun inked a deal with the Rangers over the weekend, which figures to make it more difficult for Peters to have a chance of making the Opening Day roster.