Alpine Income Property Trust, Inc. (NYSE:PINE) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in Alpine Income Property Trust, Inc. (NYSE:PINE) by 28.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,703 shares of the company’s stock after selling 70,297 shares during the quarter. State of New Jersey Common Pension Fund D owned about 1.28% of Alpine Income Property Trust worth $2,703,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PINE. Tidal Investments LLC lifted its holdings in shares of Alpine Income Property Trust by 5.8% in the 1st quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock valued at $297,000 after buying an additional 1,064 shares during the period. Guardian Wealth Management Inc. lifted its holdings in shares of Alpine Income Property Trust by 3.0% in the 4th quarter. Guardian Wealth Management Inc. now owns 38,927 shares of the company’s stock valued at $658,000 after buying an additional 1,138 shares during the period. Rhumbline Advisers lifted its holdings in shares of Alpine Income Property Trust by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock valued at $268,000 after buying an additional 1,272 shares during the period. ClariVest Asset Management LLC lifted its holdings in shares of Alpine Income Property Trust by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 54,299 shares of the company’s stock valued at $845,000 after buying an additional 1,516 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Alpine Income Property Trust by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,923 shares of the company’s stock valued at $1,477,000 after buying an additional 4,723 shares during the period. Institutional investors and hedge funds own 60.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial lifted their price target on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. B. Riley restated a “buy” rating and issued a $20.00 price target (up previously from $19.50) on shares of Alpine Income Property Trust in a research note on Wednesday, July 24th. Stifel Nicolaus lifted their price target 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. Finally, Raymond James lifted their price target on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Alpine Income Property Trust currently has a consensus rating of “Moderate Buy” and an average price target of $18.89.

Insider Activity at Alpine Income Property Trust

In related news, major shareholder Cto Realty Growth, Inc. bought 6,262 shares of the company’s stock in a transaction on Friday, July 5th. The stock was bought at an average cost of $15.00 per share, with a total value of $93,930.00. Following the completion of the acquisition, the insider now owns 196,356 shares in the company, valued at approximately $2,945,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 20,783 shares of company stock worth $311,441 over the last 90 days. Company insiders own 0.74% of the company’s stock.

Alpine Income Property Trust Stock Performance

NYSE:PINE opened at $18.44 on Thursday. The firm has a market capitalization of $251.14 million, a PE ratio of -460.88, a price-to-earnings-growth ratio of 1.86 and a beta of 0.80. The business’s fifty day moving average price is $17.65 and its 200 day moving average price is $16.14. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.88 and a quick ratio of 0.88. Alpine Income Property Trust, Inc. has a 12 month low of $14.25 and a 12 month high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.01 earnings per share (EPS) 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 firm had revenue of $12.49 million for the quarter, compared to analysts’ expectations of $12.10 million. During the same period in the previous year, the business posted $0.37 EPS. On average, sell-side analysts anticipate that Alpine Income Property Trust, Inc. will post 1.64 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be given a $0.28 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.12 dividend on an annualized basis and a yield of 6.08%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently -2,800.00%.

Alpine Income Property Trust Company 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.