Geode Capital Management LLC Sells 7,387 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

Geode Capital Management LLC reduced its holdings in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 314,727 shares of the company’s stock after selling 7,387 shares during the quarter. Geode Capital Management LLC owned 2.21% of Alpine Income Property Trust worth $5,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Guardian Wealth Management Inc. boosted its holdings in Alpine Income Property Trust by 4.7% in the third quarter. Guardian Wealth Management Inc. now owns 47,835 shares of the company’s stock worth $871,000 after purchasing an additional 2,154 shares during the last quarter. Barclays PLC boosted its position in Alpine Income Property Trust by 282.4% in the third quarter. Barclays PLC now owns 16,411 shares of the company’s stock worth $299,000 after purchasing an additional 12,119 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Alpine Income Property Trust during the 3rd quarter valued at about $64,000. Jane Street Group LLC increased its position in shares of Alpine Income Property Trust by 216.2% during the 3rd quarter. Jane Street Group LLC now owns 43,486 shares of the company’s stock valued at $791,000 after purchasing an additional 29,735 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Alpine Income Property Trust by 18.7% in the 3rd quarter. State Street Corp now owns 272,081 shares of the company’s stock worth $4,952,000 after purchasing an additional 42,889 shares during the period. 60.50% of the stock is owned by hedge funds and other institutional investors.

Alpine Income Property Trust Stock Up 1.4 %

NYSE PINE opened at $16.92 on Friday. Alpine Income Property Trust, Inc. has a 12 month low of $14.32 and a 12 month high of $19.42. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 1.03. The stock has a market cap of $241.50 million, a PE ratio of 76.91, a P/E/G ratio of 1.67 and a beta of 0.79. The stock’s 50 day moving average is $17.42 and its 200 day moving average is $17.34.

Alpine Income Property Trust (NYSE:PINE) last released its earnings results on Thursday, October 17th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.19). The company had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $12.08 million. Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. During the same period last year, the firm posted $0.37 EPS. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.62%. Alpine Income Property Trust’s payout ratio is 509.09%.

Analyst Ratings Changes

A number of analysts have commented on PINE shares. UBS Group initiated coverage on shares of Alpine Income Property Trust in a report on Monday, October 14th. They set a “neutral” rating and a $19.00 target price for the company. Alliance Global Partners lifted their target price on Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Stifel Nicolaus boosted their price target on Alpine Income Property Trust from $19.75 to $20.25 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Robert W. Baird raised their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.25.

Insider Transactions at Alpine Income Property Trust

In related news, Director Wein Rachel Elias sold 2,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.00, for a total transaction of $36,000.00. Following the sale, the director now owns 9,492 shares of the company’s stock, valued at $170,856. This represents a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.74% 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.