PNC Financial Services Group Inc. Buys 867 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

PNC Financial Services Group Inc. raised its position in Alpine Income Property Trust, Inc. (NYSE:PINE) by 25.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,282 shares of the company’s stock after acquiring an additional 867 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alpine Income Property Trust were worth $72,000 at the end of the most recent quarter.

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

Alpine Income Property Trust Stock Performance

NYSE:PINE opened at $16.31 on Wednesday. Alpine Income Property Trust, Inc. has a 52-week low of $14.33 and a 52-week high of $19.42. The firm has a market capitalization of $239.63 million, a PE ratio of 116.50, a P/E/G ratio of 1.58 and a beta of 0.82. The stock has a 50-day simple moving average of $16.51 and a two-hundred day simple moving average of $17.21. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.94 and a current ratio of 0.94.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate 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%. Analysts forecast that Alpine Income Property Trust, Inc. will post 1.74 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 6.99%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, March 13th. Alpine Income Property Trust’s dividend payout ratio is presently 814.29%.

Insider Transactions at Alpine Income Property Trust

In other news, Director Andrew C. Richardson sold 2,000 shares of Alpine Income Property Trust stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.64, for a total value of $33,280.00. Following the transaction, the director now directly owns 17,143 shares in the company, valued at approximately $285,259.52. This trade represents a 10.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

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.