Sound Income Strategies LLC Raises Holdings in Alpine Income Property Trust, Inc. (NYSE:PINE)

Sound Income Strategies LLC grew its position in Alpine Income Property Trust, Inc. (NYSE:PINE) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 795,428 shares of the company’s stock after buying an additional 60,659 shares during the quarter. Sound Income Strategies LLC owned 5.84% of Alpine Income Property Trust worth $14,477,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PINE. Renaissance Technologies LLC acquired a new position in shares of Alpine Income Property Trust in the second quarter valued at about $647,000. Dimensional Fund Advisors LP raised its holdings in shares of Alpine Income Property Trust by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 117,280 shares of the company’s stock worth $1,825,000 after acquiring an additional 8,332 shares during the period. Guardian Wealth Management Inc. grew its stake in shares of Alpine Income Property Trust by 4.3% in the 2nd quarter. Guardian Wealth Management Inc. now owns 45,681 shares of the company’s stock valued at $711,000 after buying an additional 1,882 shares during the period. ClariVest Asset Management LLC lifted its stake in shares of Alpine Income Property Trust by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 54,299 shares of the company’s stock valued at $845,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Alpine Income Property Trust during the second quarter valued at about $352,000. 60.50% of the stock is currently owned by hedge funds and other institutional investors.

Alpine Income Property Trust Price Performance

NYSE PINE traded up $0.55 on Friday, reaching $17.90. The company’s stock had a trading volume of 121,227 shares, compared to its average volume of 56,462. The stock has a market cap of $243.98 million, a PE ratio of -447.50, a PEG ratio of 1.76 and a beta of 0.80. Alpine Income Property Trust, Inc. has a twelve month low of $14.25 and a twelve month high of $19.42. The firm’s 50 day moving average is $17.96 and its two-hundred day moving average is $16.42. 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 (NYSE:PINE) last issued its 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 business had revenue of $12.49 million during the quarter, compared to analyst estimates of $12.10 million. During the same period last year, the business earned $0.37 EPS. As a group, sell-side analysts predict that Alpine Income Property Trust, Inc. will post 1.65 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.12 dividend on an annualized basis and a yield of 6.26%. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s dividend payout ratio (DPR) is -2,800.00%.

Wall Street Analysts Forecast Growth

PINE has been the topic of several analyst reports. 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 note on Wednesday, August 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. Stifel Nicolaus lifted their price objective on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, B. Riley reiterated a “buy” rating and issued a $20.00 price objective (up previously from $19.50) on shares of Alpine Income Property Trust in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.89.

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.