Alpine Income Property Trust, Inc. (NYSE:PINE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Alpine Income Property Trust, Inc. (NYSE:PINE) by 21.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,007 shares of the company’s stock after selling 1,400 shares during the quarter. New York State Common Retirement Fund’s holdings in Alpine Income Property Trust were worth $84,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in Alpine Income Property Trust in the third quarter worth about $64,000. JPMorgan Chase & Co. lifted its holdings in Alpine Income Property Trust by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company’s stock worth $129,000 after acquiring an additional 1,483 shares during the last quarter. Truvestments Capital LLC bought a new position in Alpine Income Property Trust in the third quarter worth about $143,000. Virtu Financial LLC bought a new position in Alpine Income Property Trust in the third quarter worth about $200,000. Finally, Quadrature Capital Ltd bought a new position in Alpine Income Property Trust in the third quarter worth about $239,000. Institutional investors and hedge funds own 60.50% of the company’s stock.

Insider Activity

In related news, Director Andrew C. Richardson sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.64, for a total transaction of $33,280.00. Following the transaction, the director now owns 17,143 shares in the company, valued at $285,259.52. This trade represents a 10.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Alpine Income Property Trust Stock Performance

PINE opened at $16.44 on Thursday. The business’s 50 day moving average is $16.62 and its 200-day moving average is $17.43. The stock has a market cap of $241.46 million, a PE ratio of 117.39, a price-to-earnings-growth ratio of 1.58 and a beta of 0.82. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09. Alpine Income Property Trust, Inc. has a twelve month low of $14.33 and a twelve month high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.40. Alpine Income Property Trust had a return on equity of 0.76% and a net margin of 3.96%. On average, analysts predict that Alpine Income Property Trust, Inc. will post 1.74 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date is Thursday, March 13th. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s payout ratio is 814.29%.

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.