Alpine Income Property Trust, Inc. (NYSE:PINE) Director Sells $18,150.00 in Stock

Alpine Income Property Trust, Inc. (NYSE:PINE) Director Andrew C. Richardson sold 1,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $18.15, for a total transaction of $18,150.00. Following the sale, the director now directly owns 20,087 shares in the company, valued at $364,579.05. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Alpine Income Property Trust Trading Down 1.9 %

Shares of NYSE:PINE traded down $0.35 on Wednesday, hitting $17.70. The company’s stock had a trading volume of 58,542 shares, compared to its average volume of 55,121. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day simple moving average of $17.92 and a 200 day simple moving average of $16.30. Alpine Income Property Trust, Inc. has a 1 year low of $14.25 and a 1 year high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.38). Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. The business had revenue of $12.49 million during the quarter, compared to the consensus estimate of $12.10 million. During the same period in the prior year, the firm earned $0.37 earnings per share. As a group, research analysts anticipate that Alpine Income Property Trust, Inc. will post 1.65 EPS for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.33%. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, September 12th. Alpine Income Property Trust’s dividend payout ratio is presently -2,800.00%.

Wall Street Analyst Weigh In

PINE has been the subject of a number of analyst reports. Truist Financial lifted their price target on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target (up from $19.50) on shares of Alpine Income Property Trust in a research note on Wednesday, July 24th. Raymond James increased their target price on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Finally, Stifel Nicolaus boosted their target price on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.89.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Guardian Wealth Management Inc. boosted its holdings in shares of Alpine Income Property Trust by 3.0% in the fourth quarter. Guardian Wealth Management Inc. now owns 38,927 shares of the company’s stock worth $658,000 after buying an additional 1,138 shares during the last quarter. Sound Income Strategies LLC grew its stake in Alpine Income Property Trust by 13.9% in the first quarter. Sound Income Strategies LLC now owns 654,044 shares of the company’s stock valued at $9,994,000 after purchasing an additional 79,969 shares during the last quarter. Heartland Advisors Inc. raised its stake in shares of Alpine Income Property Trust by 53.0% in the first quarter. Heartland Advisors Inc. now owns 611,900 shares of the company’s stock worth $9,350,000 after purchasing an additional 211,900 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Alpine Income Property Trust by 7.7% during the 1st quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock valued at $7,541,000 after acquiring an additional 35,151 shares during the period. Finally, Foundry Partners LLC boosted its stake in shares of Alpine Income Property Trust by 14.9% in the first quarter. Foundry Partners LLC now owns 180,035 shares of the company’s stock worth $2,751,000 after acquiring an additional 23,405 shares during the last quarter. Hedge funds and other institutional investors own 60.50% of the company’s stock.

About Alpine Income Property Trust

Alpine Income Property Trust, Inc (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased properties that are predominately leased to high-quality publicly traded and credit-rated tenants.