Sound Income Strategies LLC Grows Stock Position in Alpine Income Property Trust, Inc. $PINE

Key Points

• Sound Income Strategies LLC increased its stake in Alpine Income Property Trust, Inc. by 10.2%, owning 1,047,055 shares valued at approximately $15.4 million.
• CEO John P. Albright purchased 3,500 shares at $14.20, raising his ownership by 44.06% to 11,444 shares.
• Alpine Income Property Trust announced a quarterly dividend of $0.285 per share, representing an annualized yield of 8.1%.

Sound Income Strategies LLC boosted its stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 10.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,047,055 shares of the company's stock after acquiring an additional 96,519 shares during the quarter. Sound Income Strategies LLC owned 7.34% of Alpine Income Property Trust worth $15,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC lifted its position in Alpine Income Property Trust by 2,385.0% in the first quarter. Truvestments Capital LLC now owns 192,363 shares of the company's stock valued at $3,216,000 after purchasing an additional 184,622 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Alpine Income Property Trust by 127.9% during the 4th quarter. Nuveen Asset Management LLC now owns 174,465 shares of the company's stock valued at $2,929,000 after buying an additional 97,910 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Alpine Income Property Trust during the 1st quarter valued at $1,112,000. Two Sigma Advisers LP purchased a new stake in Alpine Income Property Trust during the 4th quarter valued at $452,000. Finally, Crossingbridge Advisors LLC grew its holdings in Alpine Income Property Trust by 22.5% in the 1st quarter. Crossingbridge Advisors LLC now owns 112,674 shares of the company's stock worth $1,872,000 after acquiring an additional 20,694 shares during the last quarter. 60.50% of the stock is currently owned by institutional investors.

Insider Activity at Alpine Income Property Trust

In other Alpine Income Property Trust news, CEO John P. Albright bought 3,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $14.20 per share, for a total transaction of $49,700.00. Following the acquisition, the chief executive officer owned 11,444 shares in the company, valued at approximately $162,504.80. This represents a 44.06% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Alliance Global Partners reaffirmed a "buy" rating on shares of Alpine Income Property Trust in a research note on Friday, July 25th. Jones Trading lowered their price target on Alpine Income Property Trust from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, July 25th. UBS Group cut their price objective on Alpine Income Property Trust from $16.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Finally, Stifel Nicolaus reduced their target price on Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating on the stock in a research note on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $18.42.

Alpine Income Property Trust Stock Down 0.4%

Shares of NYSE:PINE opened at $14.03 on Monday. The firm has a market capitalization of $198.66 million, a P/E ratio of -280.60, a P/E/G ratio of 1.33 and a beta of 0.64. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $14.66 and a 200-day moving average price of $15.16. Alpine Income Property Trust, Inc. has a 52-week low of $13.95 and a 52-week high of $18.75.

Alpine Income Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, September 11th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.14 annualized dividend and a yield of 8.1%. Alpine Income Property Trust's dividend payout ratio (DPR) is currently -2,280.00%.

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.

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