Rhumbline Advisers Grows Stake in Alpine Income Property Trust, Inc. (NYSE:PINE)

Rhumbline Advisers grew its stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 8.0% in the second quarter, Holdings Channel reports. The fund owned 17,197 shares of the company’s stock after acquiring an additional 1,272 shares during the quarter. Rhumbline Advisers’ holdings in Alpine Income Property Trust were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of PINE. Heartland Advisors Inc. boosted its stake in Alpine Income Property Trust by 53.0% in the 1st quarter. Heartland Advisors Inc. now owns 611,900 shares of the company’s stock worth $9,350,000 after purchasing an additional 211,900 shares during the period. Sound Income Strategies LLC lifted its stake in Alpine Income Property Trust by 12.3% in the 2nd quarter. Sound Income Strategies LLC now owns 734,769 shares of the company’s stock worth $11,433,000 after purchasing an additional 80,725 shares in the last quarter. Carlson Capital L P bought a new position in Alpine Income Property Trust in the 1st quarter valued at $1,202,000. Kennedy Capital Management LLC grew its position in Alpine Income Property Trust by 18.6% during the first 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. Finally, Russell Investments Group Ltd. raised its holdings in shares of Alpine Income Property Trust by 7.7% in the 1st quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock valued at $7,541,000 after acquiring an additional 35,151 shares in the last quarter. Hedge funds and other institutional investors own 60.50% of the company’s stock.

Insider Buying and Selling at Alpine Income Property Trust

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 that occurred on 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 of the company’s stock, valued at approximately $2,945,340. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.74% of the company’s stock.

Alpine Income Property Trust Trading Up 0.4 %

NYSE PINE opened at $18.25 on Friday. The firm has a market capitalization of $248.75 million, a PE ratio of -456.25, a P/E/G ratio of 1.83 and a beta of 0.80. The stock’s 50 day moving average is $17.89 and its 200 day moving average is $16.26. Alpine Income Property Trust, Inc. has a twelve month low of $14.25 and a twelve month high of $19.42. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust (NYSE:PINE) last announced its earnings results on Thursday, July 18th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.38). Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. The business had revenue of $12.49 million for the quarter, compared to the consensus estimate of $12.10 million. During the same quarter last year, the firm posted $0.37 EPS. Research analysts forecast 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 disclosed 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. The ex-dividend date 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 annualized dividend and a yield of 6.14%. Alpine Income Property Trust’s dividend payout ratio is -2,800.00%.

Analyst Upgrades and Downgrades

PINE has been the topic of several research reports. Stifel Nicolaus raised their price objective on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research report on Friday, July 19th. Truist Financial lifted their price target on Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Raymond James increased their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Finally, B. Riley reissued a “buy” rating and set a $20.00 price objective (up from $19.50) on shares of Alpine Income Property Trust in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Alpine Income Property Trust presently has a consensus 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.