Truvestments Capital LLC Buys 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 lifted its stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 2,385.0% during the 1st quarter, according to the company in its most recent 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 1.35% of Alpine Income Property Trust worth $3,216,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PINE. JPMorgan Chase & Co. grew its holdings in shares of Alpine Income Property Trust by 618.4% during the 4th quarter. JPMorgan Chase & Co. now owns 50,780 shares of the company's stock worth $853,000 after purchasing an additional 43,712 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Alpine Income Property Trust by 137.1% during the 4th quarter. Wells Fargo & Company MN now owns 13,627 shares of the company's stock worth $229,000 after purchasing an additional 7,879 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Alpine Income Property Trust during the 4th quarter worth $2,130,000. Barclays PLC grew its holdings in shares of Alpine Income Property Trust by 22.9% during the 4th quarter. Barclays PLC now owns 20,173 shares of the company's stock worth $339,000 after purchasing an additional 3,762 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Alpine Income Property Trust by 32.3% during the 4th quarter. Marshall Wace LLP now owns 52,557 shares of the company's stock worth $882,000 after purchasing an additional 12,843 shares in the last quarter. 60.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alpine Income Property Trust

In other news, CEO John P. Albright purchased 3,500 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of $14.20 per share, with a total value of $49,700.00. Following the completion of the purchase, the chief executive officer owned 11,444 shares of the company's stock, valued at $162,504.80. This trade represents a 44.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PINE. Alliance Global Partners reissued a "buy" rating on shares of Alpine Income Property Trust in a report on Friday, July 25th. Stifel Nicolaus reduced their price objective 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. UBS Group reduced 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 note on Wednesday, July 16th. Finally, Jones Trading reduced their price objective on Alpine Income Property Trust from $20.00 to $19.00 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.42.

Alpine Income Property Trust Trading Up 1.2%

Shares of PINE stock traded up $0.18 during mid-day trading on Friday, reaching $15.29. 94,316 shares of the stock traded hands, compared to its average volume of 69,270. The stock's fifty day simple moving average is $14.62 and its two-hundred day simple moving average is $15.40. Alpine Income Property Trust, Inc. has a 1-year low of $13.95 and a 1-year high of $19.42. The company has a market cap of $216.44 million, a price-to-earnings ratio of -305.70, a price-to-earnings-growth ratio of 1.44 and a beta of 0.63. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Thursday, September 11th. Alpine Income Property Trust's dividend payout ratio (DPR) is presently -2,280.00%.

Alpine Income Property Trust Company 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.