ClariVest Asset Management LLC Raises Holdings in Alpine Income Property Trust, Inc. (NYSE:PINE)

ClariVest Asset Management LLC raised its holdings in Alpine Income Property Trust, Inc. (NYSE:PINE) by 2.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,299 shares of the company’s stock after purchasing an additional 1,516 shares during the quarter. ClariVest Asset Management LLC owned 0.40% of Alpine Income Property Trust worth $845,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Tidal Investments LLC raised its holdings in Alpine Income Property Trust by 5.8% in the 1st quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock valued at $297,000 after buying an additional 1,064 shares during the period. Guardian Wealth Management Inc. lifted its holdings 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 acquiring an additional 1,138 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Alpine Income Property Trust by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock worth $268,000 after purchasing an additional 1,272 shares during the period. Bank of New York Mellon Corp increased its holdings in Alpine Income Property Trust by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,923 shares of the company’s stock valued at $1,477,000 after purchasing an additional 4,723 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Alpine Income Property Trust by 0.9% in the first quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock valued at $11,545,000 after purchasing an additional 6,522 shares during the period. Institutional investors and hedge funds own 60.50% of the company’s stock.

Insiders Place Their Bets

In other Alpine Income Property Trust news, major shareholder Cto Realty Growth, Inc. acquired 6,262 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $93,930.00. Following the acquisition, the insider now owns 196,356 shares in the company, valued at approximately $2,945,340. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders acquired 20,783 shares of company stock valued at $311,441 in the last ninety days. Insiders own 0.74% of the company’s stock.

Alpine Income Property Trust Stock Performance

Shares of PINE opened at $18.60 on Thursday. The stock has a 50-day simple moving average of $17.32 and a 200-day simple moving average of $16.04. 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 1 year low of $14.25 and a 1 year high of $19.42. The stock has a market capitalization of $253.39 million, a PE ratio of -465.00, a PEG ratio of 1.91 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 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 firm had revenue of $12.49 million for the quarter, compared to analyst estimates of $12.10 million. During the same quarter last year, the firm earned $0.37 EPS. On average, analysts predict 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 12th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a yield of 6.02%. Alpine Income Property Trust’s dividend payout ratio (DPR) is currently -2,800.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PINE. Stifel Nicolaus raised their price target on Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a research report on Friday, July 19th. Truist Financial lifted their target price on 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. B. Riley reissued a “buy” rating and set a $20.00 price target (up previously from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Finally, Raymond James raised 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 note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.89.

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.