Los Angeles Capital Management LLC Trims Stock Holdings in Alpine Income Property Trust, Inc. (NYSE:PINE)

Los Angeles Capital Management LLC trimmed its position in Alpine Income Property Trust, Inc. (NYSE:PINE) by 11.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,014 shares of the company’s stock after selling 2,600 shares during the period. Los Angeles Capital Management LLC owned 0.14% of Alpine Income Property Trust worth $364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its stake in shares of Alpine Income Property Trust by 8.3% in the third quarter. Sound Income Strategies LLC now owns 795,428 shares of the company’s stock worth $14,477,000 after acquiring an additional 60,659 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Alpine Income Property Trust by 0.9% in the first quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock worth $11,545,000 after acquiring an additional 6,522 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of 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 worth $7,541,000 after acquiring an additional 35,151 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of Alpine Income Property Trust by 18.6% in the first quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock worth $5,814,000 after acquiring an additional 59,674 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Alpine Income Property Trust by 8.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 188,703 shares of the company’s stock worth $3,434,000 after acquiring an additional 15,000 shares during the last quarter. 60.50% of the stock is owned by hedge funds and other institutional investors.

Alpine Income Property Trust Stock Down 0.4 %

PINE stock opened at $17.64 on Monday. Alpine Income Property Trust, Inc. has a fifty-two week low of $14.32 and a fifty-two week high of $19.42. The business’s 50-day moving average is $17.95 and its two-hundred day moving average is $16.91. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85. The company has a market cap of $251.72 million, a price-to-earnings ratio of 80.19, a P/E/G ratio of 1.73 and a beta of 0.80.

Alpine Income Property Trust (NYSE:PINE) last posted its earnings results on Thursday, October 17th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). The firm had revenue of $13.48 million during the quarter, compared to the consensus estimate of $12.08 million. Alpine Income Property Trust had a net margin of 6.72% and a return on equity of 1.23%. During the same period in the prior year, the company posted $0.37 EPS. As a group, analysts forecast that Alpine Income Property Trust, Inc. will post 1.7 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were given a $0.28 dividend. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, September 12th. This represents a $1.12 dividend on an annualized basis and a yield of 6.35%. Alpine Income Property Trust’s dividend payout ratio is presently 509.11%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PINE. Truist Financial upped their price target on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Alliance Global Partners upped their price target on Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, October 18th. UBS Group began coverage on Alpine Income Property Trust in a report on Monday, October 14th. They set a “neutral” rating and a $19.00 price target on the stock. Raymond James upped their price target on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Finally, B. Riley reaffirmed a “buy” rating and set a $20.00 price target (up from $19.50) on shares of Alpine Income Property Trust in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Alpine Income Property Trust currently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

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.