Franklin Resources Inc. Has $3.95 Million Stake in Alpine Income Property Trust, Inc. (NYSE:PINE)

Franklin Resources Inc. cut its stake in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 39.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 235,218 shares of the company's stock after selling 152,907 shares during the quarter. Franklin Resources Inc. owned approximately 1.65% of Alpine Income Property Trust worth $3,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in Alpine Income Property Trust during the third quarter valued at about $64,000. PNC Financial Services Group Inc. raised its holdings in Alpine Income Property Trust by 25.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company's stock valued at $72,000 after acquiring an additional 867 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alpine Income Property Trust by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company's stock worth $129,000 after purchasing an additional 1,483 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Alpine Income Property Trust during the third quarter valued at approximately $200,000. Finally, Sei Investments Co. acquired a new position in shares of Alpine Income Property Trust in the fourth quarter valued at $219,000. 60.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Andrew C. Richardson sold 2,000 shares of Alpine Income Property Trust stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.64, for a total transaction of $33,280.00. Following the completion of the sale, the director now directly owns 17,143 shares of the company's stock, valued at approximately $285,259.52. This trade represents a 10.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.74% of the company's stock.

Alpine Income Property Trust Stock Performance

Shares of PINE traded up $0.11 during midday trading on Thursday, reaching $16.52. The stock had a trading volume of 17,928 shares, compared to its average volume of 74,143. Alpine Income Property Trust, Inc. has a one year low of $14.33 and a one year high of $19.42. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09. The firm has a market cap of $239.07 million, a PE ratio of 118.28, a P/E/G ratio of 1.58 and a beta of 0.57. The firm has a 50 day simple moving average of $16.27 and a 200-day simple moving average of $16.96.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.04 by $0.40. Alpine Income Property Trust had a return on equity of 0.76% and a net margin of 3.96%. As a group, sell-side analysts anticipate that Alpine Income Property Trust, Inc. will post 1.74 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were issued a $0.285 dividend. This is an increase from Alpine Income Property Trust's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 6.90%. The ex-dividend date was Thursday, March 13th. Alpine Income Property Trust's payout ratio is currently 814.29%.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered their price target on shares of Alpine Income Property Trust from $19.50 to $19.25 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Alpine Income Property Trust presently has a consensus rating of "Moderate Buy" and an average target price of $19.14.

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.