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

Sound Income Strategies LLC increased its holdings in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 9.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 950,536 shares of the company's stock after acquiring an additional 83,620 shares during the period. Sound Income Strategies LLC owned about 6.57% of Alpine Income Property Trust worth $15,893,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PINE. Ameriflex Group Inc. bought a new stake in shares of Alpine Income Property Trust during the fourth quarter valued at approximately $43,000. BNP Paribas Financial Markets purchased a new position in shares of Alpine Income Property Trust during the fourth quarter valued at $44,000. GAMMA Investing LLC increased its holdings in Alpine Income Property Trust by 9,844.7% during the first quarter. GAMMA Investing LLC now owns 3,779 shares of the company's stock valued at $63,000 after buying an additional 3,741 shares during the period. PNC Financial Services Group Inc. raised its stake in Alpine Income Property Trust by 25.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company's stock worth $72,000 after buying an additional 867 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in Alpine Income Property Trust in the fourth quarter worth approximately $75,000. Hedge funds and other institutional investors own 60.50% of the company's stock.

Alpine Income Property Trust Stock Performance

Alpine Income Property Trust stock traded up $0.01 during midday trading on Wednesday, hitting $15.02. 48,845 shares of the company were exchanged, compared to its average volume of 79,043. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.36 and a current ratio of 1.36. The business has a fifty day simple moving average of $15.42 and a two-hundred day simple moving average of $16.20. Alpine Income Property Trust, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $19.42. The firm has a market capitalization of $214.22 million, a PE ratio of 187.71, a price-to-earnings-growth ratio of 1.42 and a beta of 0.61.

Alpine Income Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, June 12th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 7.59%. The ex-dividend date of this dividend is Thursday, June 12th. Alpine Income Property Trust's payout ratio is 1,425.00%.

Analysts Set New Price Targets

Several brokerages have issued reports on PINE. Alliance Global Partners reaffirmed a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, April 25th. Industrial Alliance Securities set a $19.00 target price on Alpine Income Property Trust in a research note on Friday, April 25th. Stifel Nicolaus lowered their price target on shares of Alpine Income Property Trust from $19.25 to $18.75 and set a "buy" rating on the stock in a report on Friday, April 25th. UBS Group lowered their target price on shares of Alpine Income Property Trust from $17.00 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Jones Trading cut their price target on shares of Alpine Income Property Trust from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.97.

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.