Rhumbline Advisers Buys 2,081 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

Rhumbline Advisers boosted its stake in Alpine Income Property Trust, Inc. (NYSE:PINE) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,916 shares of the company’s stock after purchasing an additional 2,081 shares during the quarter. Rhumbline Advisers owned about 0.14% of Alpine Income Property Trust worth $334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Alpine Income Property Trust during the 3rd quarter valued at about $64,000. JPMorgan Chase & Co. raised its holdings in Alpine Income Property Trust by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company’s stock worth $129,000 after buying an additional 1,483 shares during the period. Truvestments Capital LLC bought a new position in Alpine Income Property Trust in the third quarter valued at approximately $143,000. Virtu Financial LLC acquired a new position in shares of Alpine Income Property Trust in the third quarter valued at approximately $200,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Alpine Income Property Trust during the third quarter worth $239,000. Institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Stock Performance

Shares of Alpine Income Property Trust stock opened at $16.55 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $243.17 million, a price-to-earnings ratio of 118.22, a price-to-earnings-growth ratio of 1.58 and a beta of 0.82. The stock’s 50-day moving average is $16.63 and its 200-day moving average is $17.42. Alpine Income Property Trust, Inc. has a one year low of $14.33 and a one year high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last released its 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 net margin of 3.96% and a return on equity of 0.76%. Equities analysts predict that Alpine Income Property Trust, Inc. will post 1.74 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 814.29%.

Insider Buying and Selling

In other news, Director Andrew C. Richardson sold 2,000 shares of Alpine Income Property Trust stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.64, for a total value of $33,280.00. Following the completion of the sale, the director now directly owns 17,143 shares in the company, valued at approximately $285,259.52. The trade was a 10.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.74% of the stock is currently owned by insiders.

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.