Raymond James Financial Inc. Invests $2.13 Million in Alpine Income Property Trust, Inc. (NYSE:PINE)

Raymond James Financial Inc. acquired a new stake in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 126,871 shares of the company's stock, valued at approximately $2,130,000. Raymond James Financial Inc. owned about 0.89% of Alpine Income Property Trust at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in Alpine Income Property Trust by 25.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company's stock worth $72,000 after buying an additional 867 shares during the period. JPMorgan Chase & Co. increased its position in Alpine Income Property Trust by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company's stock worth $129,000 after acquiring an additional 1,483 shares during the period. Tidal Investments LLC raised its stake in Alpine Income Property Trust by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 22,906 shares of the company's stock worth $417,000 after purchasing an additional 1,578 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Alpine Income Property Trust by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,157 shares of the company's stock valued at $607,000 after purchasing an additional 1,977 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Alpine Income Property Trust by 11.7% during the 4th quarter. Rhumbline Advisers now owns 19,916 shares of the company's stock worth $334,000 after purchasing an additional 2,081 shares in the last quarter. 60.50% of the stock is currently owned by institutional investors and hedge funds.

Alpine Income Property Trust Price Performance

Alpine Income Property Trust stock traded up $0.10 during midday trading on Tuesday, reaching $15.32. The company's stock had a trading volume of 61,685 shares, compared to its average volume of 74,817. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09. The stock has a market cap of $218.50 million, a PE ratio of 109.39, a price-to-earnings-growth ratio of 1.58 and a beta of 0.60. Alpine Income Property Trust, Inc. has a 52 week low of $14.51 and a 52 week high of $19.42. The business has a 50-day moving average price of $16.11 and a 200-day moving average price of $16.78.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.40. Alpine Income Property Trust had a net margin of 3.96% and a return on equity of 0.76%. On average, sell-side analysts predict that Alpine Income Property Trust, Inc. will post 1.74 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were given a dividend of $0.285 per share. The ex-dividend date was Thursday, March 13th. This represents a $1.14 dividend on an annualized basis and a yield of 7.44%. This is a positive change from Alpine Income Property Trust's previous quarterly dividend of $0.28. Alpine Income Property Trust's payout ratio is currently 1,425.00%.

Insiders Place Their Bets

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.64, for a total value of $33,280.00. Following the completion of the transaction, the director now directly owns 17,143 shares in the company, valued at approximately $285,259.52. This represents a 10.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PINE shares. Jones Trading dropped their price target on shares of Alpine Income Property Trust from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Alliance Global Partners reaffirmed a "buy" rating on shares of Alpine Income Property Trust in a report on Friday, April 25th. Stifel Nicolaus reduced their target price on Alpine Income Property Trust from $19.25 to $18.75 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Industrial Alliance Securities set a $19.00 price target on Alpine Income Property Trust in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $19.31.

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.