State Street Corp Has $4.95 Million Stock Holdings in Alpine Income Property Trust, Inc. (NYSE:PINE)

State Street Corp increased its position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 18.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 272,081 shares of the company’s stock after acquiring an additional 42,889 shares during the quarter. State Street Corp owned about 1.91% of Alpine Income Property Trust worth $4,952,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PINE. Sound Income Strategies LLC raised its position in shares of Alpine Income Property Trust by 8.3% during the third quarter. Sound Income Strategies LLC now owns 795,428 shares of the company’s stock worth $14,477,000 after purchasing an additional 60,659 shares during the period. Renaissance Technologies LLC bought a new stake in Alpine Income Property Trust during the 2nd quarter worth approximately $647,000. Martingale Asset Management L P acquired a new stake in Alpine Income Property Trust during the 3rd quarter worth approximately $441,000. Los Angeles Capital Management LLC bought a new position in Alpine Income Property Trust in the second quarter valued at approximately $352,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Alpine Income Property Trust in the third quarter valued at approximately $336,000. Institutional investors and hedge funds own 60.50% of the company’s stock.

Alpine Income Property Trust Price Performance

NYSE:PINE opened at $16.21 on Monday. Alpine Income Property Trust, Inc. has a 52-week low of $14.32 and a 52-week high of $19.42. The company has a market cap of $231.37 million, a P/E ratio of 73.69, a P/E/G ratio of 1.67 and a beta of 0.79. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85. The stock’s 50-day simple moving average is $17.56 and its 200 day simple moving average is $17.30.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.19). Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. The company had revenue of $13.48 million for the quarter, compared to analyst estimates of $12.08 million. During the same period last year, the firm earned $0.37 EPS. As a group, sell-side analysts forecast that Alpine Income Property Trust, Inc. will post 1.71 EPS for the current fiscal year.

Alpine Income Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date of this dividend is Thursday, December 12th. Alpine Income Property Trust’s dividend payout ratio is currently 509.09%.

Insider Activity

In related news, Director Wein Rachel Elias sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.00, for a total transaction of $36,000.00. Following the transaction, the director now directly owns 9,492 shares of the company’s stock, valued at approximately $170,856. The trade was a 17.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

PINE has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Stifel Nicolaus increased their target price on Alpine Income Property Trust from $19.75 to $20.25 and gave the stock a “buy” rating in a report on Monday, October 21st. Alliance Global Partners boosted their price target on Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, UBS Group started coverage on Alpine Income Property Trust in a report on Monday, October 14th. They set a “neutral” rating and a $19.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.25.

Alpine Income Property Trust Profile

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.