Sound Income Strategies LLC decreased its holdings in shares of Alpine Income Property Trust, Inc. (NYSE:PINE – Free Report) by 4.1% in the 3rd quarter, Holdings Channel reports. The firm owned 1,184,498 shares of the company’s stock after selling 51,096 shares during the period. Alpine Income Property Trust comprises 0.5% of Sound Income Strategies LLC’s investment portfolio, making the stock its 27th largest holding. Sound Income Strategies LLC owned about 0.07% of Alpine Income Property Trust worth $21,179,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of PINE. Guardian Wealth Management Inc. lifted its holdings in shares of Alpine Income Property Trust by 7.5% during the 2nd quarter. Guardian Wealth Management Inc. now owns 79,412 shares of the company’s stock worth $1,649,000 after acquiring an additional 5,546 shares during the last quarter. Triumph Capital Management increased its stake in Alpine Income Property Trust by 11.0% in the second quarter. Triumph Capital Management now owns 23,864 shares of the company’s stock valued at $495,000 after acquiring an additional 2,358 shares during the last quarter. Hsbc Holdings PLC raised its position in Alpine Income Property Trust by 28.5% during the second quarter. Hsbc Holdings PLC now owns 60,957 shares of the company’s stock valued at $1,267,000 after purchasing an additional 13,519 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Alpine Income Property Trust during the second quarter worth about $573,000. Finally, Odyssean LLC bought a new stake in Alpine Income Property Trust during the second quarter worth about $467,000. 60.50% of the stock is currently owned by institutional investors.
Alpine Income Property Trust Trading Up 0.4%
Shares of NYSE:PINE traded up $0.07 on Friday, reaching $17.95. 212,773 shares of the company traded hands, compared to its average volume of 168,084. The stock has a market capitalization of $322.02 million, a P/E ratio of 94.50, a price-to-earnings-growth ratio of 1.17 and a beta of 0.56. The business’s 50-day simple moving average is $18.80 and its 200 day simple moving average is $19.32. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.03. Alpine Income Property Trust, Inc. has a 52 week low of $13.10 and a 52 week high of $21.99.
Alpine Income Property Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.1%. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, September 10th. Alpine Income Property Trust’s payout ratio is currently 673.68%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on PINE. Stifel Nicolaus increased their price objective on Alpine Income Property Trust from $21.50 to $22.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Alliance Global Partners reaffirmed a “buy” rating on shares of Alpine Income Property Trust in a research note on Friday, July 24th. Weiss Ratings cut shares of Alpine Income Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, September 21st. JonesTrading lifted their price target on shares of Alpine Income Property Trust from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Robert W. Baird restated a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Alpine Income Property Trust in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.
Insider Activity
In related news, Director Andrew Richardson sold 2,000 shares of Alpine Income Property Trust stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $20.28, for a total value of $40,560.00. Following the transaction, the director directly owned 8,425 shares of the company’s stock, valued at $170,859. The trade was a 19.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.60% of the company’s stock.
About Alpine Income Property Trust
Alpine Income Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of income-producing commercial properties. The company primarily focuses on single-tenant, net-leased retail properties, where tenants generally are responsible for property taxes, insurance and maintenance under the terms of their leases.
Alpine’s properties are occupied by tenants across a range of industries, including retail, grocery, home improvement, automotive services and other consumer-oriented businesses.
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