7,833 Shares in Alpine Income Property Trust, Inc. (NYSE:PINE) Purchased by Truvestments Capital LLC

Truvestments Capital LLC acquired a new stake in Alpine Income Property Trust, Inc. (NYSE:PINE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,833 shares of the company’s stock, valued at approximately $143,000. Truvestments Capital LLC owned 0.05% of Alpine Income Property Trust as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Alpine Income Property Trust by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock valued at $11,545,000 after acquiring an additional 6,522 shares during the period. Tidal Investments LLC raised its position in shares of Alpine Income Property Trust by 5.8% in the first 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 during the period. Sound Income Strategies LLC lifted its stake in shares of Alpine Income Property Trust by 12.3% during the 2nd quarter. Sound Income Strategies LLC now owns 734,769 shares of the company’s stock worth $11,433,000 after buying an additional 80,725 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Alpine Income Property Trust by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,923 shares of the company’s stock worth $1,477,000 after buying an additional 4,723 shares during the period. Finally, Rhumbline Advisers grew its stake in Alpine Income Property Trust by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock valued at $268,000 after buying an additional 1,272 shares during the last quarter. 60.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Alpine Income Property Trust from $19.75 to $20.25 and gave the stock a “buy” rating in a research report on Monday, October 21st. Robert W. Baird boosted their price target on 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. Truist Financial increased their price objective on 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. Raymond James lifted their target price on Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Finally, Alliance Global Partners upped their price target on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Alpine Income Property Trust has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Insiders Place Their Bets

In other Alpine Income Property Trust news, Director Wein Rachel Elias sold 2,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $18.00, for a total transaction of $36,000.00. Following the completion of the transaction, the director now owns 9,492 shares of the company’s stock, valued at approximately $170,856. The trade was a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 3,500 shares of company stock worth $62,975 over the last three months. Insiders own 0.74% of the company’s stock.

Alpine Income Property Trust Stock Performance

PINE opened at $17.96 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85. Alpine Income Property Trust, Inc. has a 52-week low of $14.32 and a 52-week high of $19.42. The firm has a market cap of $256.29 million, a P/E ratio of 81.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. The business’s fifty day moving average is $17.86 and its 200-day moving average is $17.03.

Alpine Income Property Trust (NYSE:PINE) last announced its quarterly earnings data on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). The firm had revenue of $13.48 million for the quarter, compared to analyst estimates 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 previous year, the company earned $0.37 earnings per share. Sell-side analysts expect that Alpine Income Property Trust, Inc. will post 1.71 EPS for the current fiscal year.

Alpine Income Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, December 12th. This represents a $1.12 annualized dividend and a yield of 6.24%. Alpine Income Property Trust’s dividend payout ratio is currently 509.11%.

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.