Bank of New York Mellon Corp Acquires New Position in Alpine Income Property Trust, Inc. $PINE

Key Points

• Bank of New York Mellon acquired 87,319 Alpine Income Property Trust shares worth approximately $1.8 million, joining other institutional investors that collectively own 60.5% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $21.50, despite some recent rating and target reductions.
• Alpine reported quarterly earnings and revenue above expectations and raised its quarterly dividend from $0.30 to $0.32 per share, producing an annualized yield of about 6.6%.

Bank of New York Mellon Corp acquired a new position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 87,319 shares of the company's stock, valued at approximately $1,813,000. Bank of New York Mellon Corp owned about 0.50% of Alpine Income Property Trust at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Jane Street Group LLC raised its position in Alpine Income Property Trust by 55.9% in the first quarter. Jane Street Group LLC now owns 22,479 shares of the company's stock valued at $376,000 after purchasing an additional 8,061 shares during the period. Strs Ohio acquired a new stake in shares of Alpine Income Property Trust during the first quarter valued at about $42,000. Geode Capital Management LLC increased its position in shares of Alpine Income Property Trust by 5.8% during the second quarter. Geode Capital Management LLC now owns 327,734 shares of the company's stock valued at $4,822,000 after acquiring an additional 17,947 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Alpine Income Property Trust by 36.5% in the 2nd quarter. Rhumbline Advisers now owns 28,181 shares of the company's stock valued at $415,000 after acquiring an additional 7,529 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Alpine Income Property Trust by 42.3% in the 2nd quarter. Hsbc Holdings PLC now owns 27,866 shares of the company's stock valued at $412,000 after acquiring an additional 8,278 shares during the period. Hedge funds and other institutional investors own 60.50% of the company's stock.

Insiders Place Their Bets

In other news, Director Andrew Richardson sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $20.28, for a total transaction of $40,560.00. Following the completion of the sale, the director owned 8,425 shares in the company, valued at approximately $170,859. The trade was a 19.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

PINE has been the subject of a number of research analyst reports. Truist Financial lowered their price objective on shares of Alpine Income Property Trust from $21.00 to $20.00 and set a "hold" rating for the company in a research report on Thursday, May 21st. Zacks Research cut Alpine Income Property Trust from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. JonesTrading increased 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 report on Friday, July 24th. Stifel Nicolaus upped their target price on shares of Alpine Income Property Trust from $21.50 to $22.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Alpine Income Property Trust in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Alpine Income Property Trust has a consensus rating of "Moderate Buy" and an average target price of $21.50.

Alpine Income Property Trust Price Performance

Shares of PINE opened at $19.41 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.03. The firm's fifty day simple moving average is $20.11 and its 200-day simple moving average is $19.58. The firm has a market capitalization of $342.02 million, a price-to-earnings ratio of 102.16, a PEG ratio of 1.30 and a beta of 0.54. Alpine Income Property Trust, Inc. has a twelve month low of $13.10 and a twelve month high of $21.99.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Alpine Income Property Trust had a return on equity of 2.11% and a net margin of 9.36%.The company had revenue of $20.00 million for the quarter, compared to analysts' expectations of $18.85 million. Alpine Income Property Trust has set its FY 2026 guidance at 2.120-2.150 EPS. Equities analysts forecast that Alpine Income Property Trust, Inc. will post 2.16 EPS for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from Alpine Income Property Trust's previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 6.6%. Alpine Income Property Trust's dividend payout ratio is 673.68%.

Alpine Income Property Trust Company Profile

Alpine Income Property Trust, Inc is a publicly traded real estate investment trust that specializes in acquiring, owning and managing single-tenant net lease properties. The company focuses on sale-leaseback and build-to-suit transactions with food and beverage companies, targeting facilities that support production, distribution and processing operations. By structuring long-term, triple-net leases, Alpine Income Property Trust seeks to deliver stable, predictable cash flow while allowing tenants to unlock capital from real estate assets and reinvest in their core businesses.

The company’s portfolio is diversified across multiple U.S.

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