Alpine Income Property Trust, Inc. (NYSE:PINE) Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC increased its stake in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 9.6% during the 1st quarter, according to its most recent Form 13F 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 approximately 6.57% of Alpine Income Property Trust worth $15,893,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PINE. Ameriflex Group Inc. acquired a new stake in shares of Alpine Income Property Trust in the fourth quarter worth approximately $43,000. BNP Paribas Financial Markets acquired a new stake in shares of Alpine Income Property Trust in the fourth quarter worth approximately $44,000. GAMMA Investing LLC boosted its position in shares of Alpine Income Property Trust by 9,844.7% in the first quarter. GAMMA Investing LLC now owns 3,779 shares of the company's stock worth $63,000 after acquiring an additional 3,741 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Alpine Income Property Trust by 25.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company's stock valued at $72,000 after buying an additional 867 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new position in Alpine Income Property Trust during the fourth quarter valued at approximately $75,000. 60.50% of the stock is owned by institutional investors and hedge funds.

Alpine Income Property Trust Stock Down 1.0%

Shares of NYSE PINE traded down $0.16 during trading on Friday, reaching $14.78. 77,014 shares of the stock were exchanged, compared to its average volume of 79,151. The business's 50-day moving average price is $15.44 and its 200 day moving average price is $16.25. Alpine Income Property Trust, Inc. has a twelve month low of $14.51 and a twelve month high of $19.42. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $210.92 million, a price-to-earnings ratio of 105.60, a price-to-earnings-growth ratio of 1.58 and a beta of 0.61.

Alpine Income Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.285 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.71%. Alpine Income Property Trust's payout ratio is currently 1,425.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PINE shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, April 25th. Stifel Nicolaus reduced 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 research report on Friday, April 25th. Jones Trading reduced 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 research report on Friday, April 25th. UBS Group reduced their price target on shares of Alpine Income Property Trust from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Industrial Alliance Securities set a $19.00 price target on shares of Alpine Income Property Trust in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.