Raymond James Financial Inc. Invests $2.13 Million in Alpine Income Property Trust, Inc. (NYSE:PINE)

Raymond James Financial Inc. purchased a new position in Alpine Income Property Trust, Inc. (NYSE:PINE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 126,871 shares of the company’s stock, valued at approximately $2,130,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Martingale Asset Management L P purchased a new stake in shares of Alpine Income Property Trust in the third quarter worth about $441,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Alpine Income Property Trust in the third quarter valued at about $336,000. Quadrature Capital Ltd acquired a new position in shares of Alpine Income Property Trust during the third quarter valued at approximately $239,000. State Street Corp lifted its holdings in Alpine Income Property Trust by 18.7% in the 3rd quarter. State Street Corp now owns 272,081 shares of the company’s stock valued at $4,952,000 after purchasing an additional 42,889 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Alpine Income Property Trust by 216.2% during the third quarter. Jane Street Group LLC now owns 43,486 shares of the company’s stock worth $791,000 after acquiring an additional 29,735 shares during the last quarter. 60.50% of the stock is currently owned by institutional investors and hedge funds.

Alpine Income Property Trust Stock Performance

Shares of Alpine Income Property Trust stock opened at $16.62 on Monday. Alpine Income Property Trust, Inc. has a one year low of $14.33 and a one year high of $19.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50 day moving average price is $16.49 and its 200 day moving average price is $17.17. The company has a market cap of $244.20 million, a price-to-earnings ratio of 118.72, a PEG ratio of 1.58 and a beta of 0.82.

Alpine Income Property Trust (NYSE:PINE) last posted its earnings results on Thursday, February 6th. The company reported $0.44 EPS 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%. On average, research analysts predict that Alpine Income Property Trust, Inc. will post 1.74 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.285 per share. The ex-dividend date is Thursday, March 13th. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.86%. Alpine Income Property Trust’s payout ratio is currently 814.29%.

Insider Buying and Selling

In related news, Director Andrew C. Richardson sold 2,000 shares of the stock in a transaction 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 transaction, the director now directly owns 17,143 shares of the company’s stock, valued at $285,259.52. This trade represents a 10.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.74% of the company’s stock.

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.