41,559 Shares in Alpine Income Property Trust, Inc. (NYSE:PINE) Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,559 shares of the company’s stock, valued at approximately $647,000. Renaissance Technologies LLC owned 0.31% of Alpine Income Property Trust at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Guardian Wealth Management Inc. grew its holdings in shares of Alpine Income Property Trust by 3.0% during the fourth quarter. Guardian Wealth Management Inc. now owns 38,927 shares of the company’s stock worth $658,000 after purchasing an additional 1,138 shares during the last quarter. Sound Income Strategies LLC increased its position in Alpine Income Property Trust by 13.9% during the first quarter. Sound Income Strategies LLC now owns 654,044 shares of the company’s stock worth $9,994,000 after buying an additional 79,969 shares during the period. Heartland Advisors Inc. increased its position in Alpine Income Property Trust by 53.0% during the first quarter. Heartland Advisors Inc. now owns 611,900 shares of the company’s stock worth $9,350,000 after buying an additional 211,900 shares during the period. Russell Investments Group Ltd. lifted its stake in Alpine Income Property Trust by 7.7% in the first quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock valued at $7,541,000 after buying an additional 35,151 shares during the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Alpine Income Property Trust by 14.9% in the first quarter. Foundry Partners LLC now owns 180,035 shares of the company’s stock valued at $2,751,000 after acquiring an additional 23,405 shares during the period. 60.50% of the stock is currently owned by hedge funds and other institutional investors.

Alpine Income Property Trust Stock Up 0.7 %

Alpine Income Property Trust stock opened at $17.49 on Wednesday. The company has a market capitalization of $238.39 million, a P/E ratio of -438.25, a P/E/G ratio of 1.79 and a beta of 0.80. Alpine Income Property Trust, Inc. has a 1-year low of $14.25 and a 1-year high of $19.42. The firm’s fifty day simple moving average is $17.95 and its 200-day simple moving average is $16.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust (NYSE:PINE) last announced its earnings results on Thursday, July 18th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.38). The firm had revenue of $12.49 million during the quarter, compared to the consensus estimate of $12.10 million. Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. During the same quarter last year, the business earned $0.37 EPS. Sell-side analysts forecast that Alpine Income Property Trust, Inc. will post 1.65 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.40%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 12th. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently -2,800.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PINE shares. 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. Raymond James lifted their target price 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 Wednesday, August 21st. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $19.50) on shares of Alpine Income Property Trust in a report on Wednesday, July 24th. Finally, Stifel Nicolaus raised their price objective on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Alpine Income Property Trust presently has an average rating of “Moderate Buy” and a consensus price target of $18.89.

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.