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 lowered its position in Alpine Income Property Trust, Inc. (NYSE:PINE) by 28.8% during the second quarter, according to its most recent 13F 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’s holdings in Alpine Income Property Trust were worth $2,703,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in Alpine Income Property Trust by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock worth $268,000 after buying an additional 1,272 shares in the last quarter. Tidal Investments LLC increased its position 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 worth $297,000 after purchasing an additional 1,064 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Alpine Income Property Trust in the 2nd quarter worth about $352,000. Guardian Wealth Management Inc. increased its position 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 worth $658,000 after purchasing an additional 1,138 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its position 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 worth $845,000 after purchasing an additional 1,516 shares during the last quarter. Institutional investors and hedge funds own 60.50% of the company’s stock.

Insider Activity at Alpine Income Property Trust

In other Alpine Income Property Trust news, major shareholder Cto Realty Growth, Inc. bought 6,562 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was acquired at an average cost of $14.99 per share, with a total value of $98,364.38. Following the completion of the purchase, the insider now directly owns 202,918 shares in the company, valued at $3,041,740.82. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 20,783 shares of company stock valued at $311,441 over the last ninety days. Insiders own 0.74% of the company’s stock.

Alpine Income Property Trust Trading Down 0.2 %

Shares of NYSE:PINE opened at $18.44 on Thursday. The company has a 50 day moving average of $17.65 and a 200-day moving average of $16.14. The firm has a market cap of $251.14 million, a P/E ratio of -460.88, a P/E/G ratio of 1.86 and a beta of 0.80. Alpine Income Property Trust, Inc. has a twelve month low of $14.25 and a twelve month high of $19.42. 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 released 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). Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. The business had revenue of $12.49 million for the quarter, compared to analyst estimates of $12.10 million. During the same period in the prior year, the company earned $0.37 earnings per share. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a yield of 6.08%. Alpine Income Property Trust’s dividend payout ratio is currently -2,800.00%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PINE shares. B. Riley reissued a “buy” rating and issued a $20.00 target price (up previously from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Stifel Nicolaus boosted their price objective on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research report on Friday, July 19th. Truist Financial boosted their price objective on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, Raymond James boosted their price objective on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.89.

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.