Truvestments Capital LLC Purchases 184,622 Shares of Alpine Income Property Trust, Inc. $PINE

Key Points

• Truvestments Capital LLC significantly increased its stake in Alpine Income Property Trust, Inc. by 2,385.0% during the first quarter, acquiring a total of 192,363 shares valued at approximately $3.2 million.
• The company recently declared a quarterly dividend of $0.285 per share, which represents an annualized dividend yield of 7.6%, with a negative payout ratio that raises questions about sustainability.
• Alpine Income Property Trust has received mixed analyst ratings, with a consensus of "Moderate Buy" and a price target range reducing from $20.00 to between $15.00 and $17.50 from various brokerages.

Truvestments Capital LLC boosted its holdings in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 2,385.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 192,363 shares of the company's stock after purchasing an additional 184,622 shares during the quarter. Truvestments Capital LLC owned about 1.35% of Alpine Income Property Trust worth $3,216,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in Alpine Income Property Trust in the fourth quarter worth approximately $43,000. BNP Paribas Financial Markets bought a new stake in Alpine Income Property Trust in the fourth quarter worth approximately $44,000. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 3,741 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in Alpine Income Property Trust by 16.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 5,380 shares of the company's stock worth $89,000 after purchasing an additional 765 shares in the last quarter. Finally, Virtus Investment Advisers Inc. bought a new stake in Alpine Income Property Trust in the fourth quarter worth approximately $94,000. 60.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PINE has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their target price on Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating for the company in a report on Friday, July 25th. Jones Trading cut their target price on Alpine Income Property Trust from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. UBS Group cut their target price 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, Alliance Global Partners reaffirmed a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.42.

Alpine Income Property Trust Stock Performance

PINE stock traded up $0.18 during midday trading on Monday, hitting $15.29. The company's stock had a trading volume of 94,316 shares, compared to its average volume of 69,265. The stock's 50-day moving average price is $14.62 and its 200 day moving average price is $15.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.40. Alpine Income Property Trust, Inc. has a 1 year low of $13.95 and a 1 year high of $19.42. The stock has a market cap of $216.41 million, a price-to-earnings ratio of -305.70, a PEG ratio of 1.44 and a beta of 0.64.

Alpine Income Property Trust Dividend Announcement

The firm 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 $0.285 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.14 annualized dividend and a yield of 7.5%. Alpine Income Property Trust's payout ratio is currently -2,280.00%.

Insiders Place Their Bets

In other Alpine Income Property Trust news, CEO John P. Albright acquired 3,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $14.20 per share, with a total value of $49,700.00. Following the completion of the transaction, the chief executive officer owned 11,444 shares in the company, valued at approximately $162,504.80. This trade represents a 44.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

About Alpine Income Property Trust

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.