Bank of New York Mellon Corp Purchases 4,723 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

Bank of New York Mellon Corp grew its position in Alpine Income Property Trust, Inc. (NYSE:PINE) by 5.2% in the second quarter, HoldingsChannel.com reports. The fund owned 94,923 shares of the company’s stock after buying an additional 4,723 shares during the quarter. Bank of New York Mellon Corp’s holdings in Alpine Income Property Trust were worth $1,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PINE. Tidal Investments LLC increased its holdings in Alpine Income Property Trust by 5.8% during the 1st quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock valued at $297,000 after purchasing an additional 1,064 shares in the last quarter. Guardian Wealth Management Inc. increased its stake in shares of Alpine Income Property Trust by 3.0% in the fourth quarter. Guardian Wealth Management Inc. now owns 38,927 shares of the company’s stock valued at $658,000 after buying an additional 1,138 shares in the last quarter. Carlson Capital L P bought a new position in shares of Alpine Income Property Trust in the first quarter valued at about $1,202,000. Foundry Partners LLC lifted its position in Alpine Income Property Trust by 14.9% during the 1st quarter. Foundry Partners LLC now owns 180,035 shares of the company’s stock worth $2,751,000 after buying an additional 23,405 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its position in Alpine Income Property Trust by 18.6% during the 1st quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock worth $5,814,000 after buying an additional 59,674 shares in the last quarter. 60.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PINE has been the subject of several research reports. B. Riley restated a “buy” rating and issued a $20.00 price objective (up previously from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Raymond James raised their price target on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Truist Financial boosted their price objective on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Stifel Nicolaus lifted their target price on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.89.

Alpine Income Property Trust Price Performance

Shares of PINE stock opened at $18.35 on Friday. The firm’s 50 day moving average price is $17.65 and its two-hundred day moving average price is $16.14. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88. Alpine Income Property Trust, Inc. has a 52-week low of $14.25 and a 52-week high of $19.42. The stock has a market cap of $249.98 million, a PE ratio of -458.50, a PEG ratio of 1.86 and a beta of 0.80.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.38). Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. The company had revenue of $12.49 million during the quarter, compared to the consensus estimate of $12.10 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. As a group, analysts forecast that Alpine Income Property Trust, Inc. will post 1.64 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.10%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, September 12th. Alpine Income Property Trust’s dividend payout ratio (DPR) is currently -2,800.00%.

Insider Activity at Alpine Income Property Trust

In other news, major shareholder Cto Realty Growth, Inc. purchased 6,262 shares of Alpine Income Property Trust stock in a transaction dated Friday, July 5th. The shares were bought at an average cost of $15.00 per share, with a total value of $93,930.00. Following the completion of the transaction, the insider now directly owns 196,356 shares in the company, valued at approximately $2,945,340. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have bought 20,783 shares of company stock worth $311,441 in the last ninety days. Company 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.