Geode Capital Management LLC Reduces Position in Alpine Income Property Trust, Inc. (NYSE:PINE)

Geode Capital Management LLC trimmed its position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 314,727 shares of the company’s stock after selling 7,387 shares during the period. Geode Capital Management LLC’s holdings in Alpine Income Property Trust were worth $5,729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. grew its stake in shares of Alpine Income Property Trust by 4.7% during the third quarter. Guardian Wealth Management Inc. now owns 47,835 shares of the company’s stock valued at $871,000 after buying an additional 2,154 shares during the last quarter. Barclays PLC grew its position in Alpine Income Property Trust by 282.4% in the 3rd quarter. Barclays PLC now owns 16,411 shares of the company’s stock valued at $299,000 after acquiring an additional 12,119 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Alpine Income Property Trust in the third quarter worth $64,000. Jane Street Group LLC increased its stake in Alpine Income Property Trust by 216.2% in the third quarter. Jane Street Group LLC now owns 43,486 shares of the company’s stock worth $791,000 after purchasing an additional 29,735 shares during the period. Finally, State Street Corp lifted its position in shares of Alpine Income Property Trust by 18.7% during the third quarter. State Street Corp now owns 272,081 shares of the company’s stock worth $4,952,000 after purchasing an additional 42,889 shares during the last quarter. 60.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alpine Income Property Trust

In other Alpine Income Property Trust news, Director Wein Rachel Elias sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.00, for a total value of $36,000.00. Following the completion of the sale, the director now directly owns 9,492 shares in the company, valued at $170,856. This trade represents a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is owned by insiders.

Alpine Income Property Trust Price Performance

Shares of PINE opened at $16.92 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85. The company has a 50 day moving average price of $17.42 and a 200-day moving average price of $17.34. Alpine Income Property Trust, Inc. has a fifty-two week low of $14.32 and a fifty-two week high of $19.42. The stock has a market capitalization of $241.50 million, a PE ratio of 76.91, a PEG ratio of 1.67 and a beta of 0.79.

Alpine Income Property Trust (NYSE:PINE) last posted its earnings results on Thursday, October 17th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). The company had revenue of $13.48 million for the quarter, compared to analysts’ expectations of $12.08 million. Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. During the same quarter in the prior year, the company earned $0.37 EPS. Equities analysts predict that Alpine Income Property Trust, Inc. will post 1.71 earnings per share for the current fiscal year.

Alpine Income Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 12th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend was Thursday, December 12th. Alpine Income Property Trust’s payout ratio is currently 509.09%.

Analysts Set New Price Targets

Several research analysts recently commented on PINE shares. UBS Group initiated coverage on shares of Alpine Income Property Trust in a research note on Monday, October 14th. They issued a “neutral” rating and a $19.00 price target on the stock. Alliance Global Partners raised their target price on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Robert W. Baird lifted 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 research note on Monday, October 21st. Finally, Stifel Nicolaus increased their price objective on Alpine Income Property Trust from $19.75 to $20.25 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

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.