Alpine Income Property Trust, Inc. (NYSE:PINE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 26.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,068 shares of the company’s stock after purchasing an additional 1,483 shares during the quarter. JPMorgan Chase & Co.’s holdings in Alpine Income Property Trust were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Alpine Income Property Trust during the 3rd quarter worth approximately $64,000. Truvestments Capital LLC bought a new position in Alpine Income Property Trust in the 3rd quarter worth approximately $143,000. Virtu Financial LLC bought a new position in Alpine Income Property Trust in the 3rd quarter worth approximately $200,000. Quadrature Capital Ltd bought a new position in Alpine Income Property Trust in the 3rd quarter worth approximately $239,000. Finally, Barclays PLC grew its holdings in Alpine Income Property Trust by 282.4% in the 3rd quarter. Barclays PLC now owns 16,411 shares of the company’s stock worth $299,000 after buying an additional 12,119 shares in the last quarter. 60.50% of the stock is currently owned by institutional investors and hedge funds.

Alpine Income Property Trust Stock Performance

PINE opened at $16.86 on Monday. The firm has a market cap of $240.59 million, a PE ratio of 76.64, a P/E/G ratio of 1.54 and a beta of 0.80. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 1.03. The business has a fifty day simple moving average of $16.97 and a 200-day simple moving average of $17.52. Alpine Income Property Trust, Inc. has a fifty-two week low of $14.32 and a fifty-two week high of $19.42.

Alpine Income Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th were issued a $0.28 dividend. The ex-dividend date was Thursday, December 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.64%. Alpine Income Property Trust’s payout ratio is currently 509.11%.

Insider Activity

In related news, Director Wein Rachel Elias sold 2,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 9,492 shares in the company, valued at approximately $170,856. This trade represents a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

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

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.