Russell Investments Group Ltd. Cuts Stock Holdings in Alpine Income Property Trust, Inc. (NYSE:PINE)

Russell Investments Group Ltd. lessened its holdings in Alpine Income Property Trust, Inc. (NYSE:PINE) by 27.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 332,989 shares of the company’s stock after selling 125,378 shares during the quarter. Russell Investments Group Ltd.’s holdings in Alpine Income Property Trust were worth $5,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new position in shares of Alpine Income Property Trust in the 3rd quarter valued at about $64,000. PNC Financial Services Group Inc. boosted its holdings in Alpine Income Property Trust by 25.4% during the fourth 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 in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in Alpine Income Property Trust during the fourth quarter worth about $75,000. JPMorgan Chase & Co. increased its holdings in Alpine Income Property Trust by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company’s stock valued at $129,000 after buying an additional 1,483 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Alpine Income Property Trust during the 3rd quarter valued at approximately $200,000. Institutional investors and hedge funds own 60.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus dropped their price objective on Alpine Income Property Trust from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.14.

Alpine Income Property Trust Trading Up 3.4 %

Shares of Alpine Income Property Trust stock opened at $15.96 on Tuesday. Alpine Income Property Trust, Inc. has a 1 year low of $14.33 and a 1 year high of $19.42. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day moving average price of $16.29 and a 200 day moving average price of $16.96. The company has a market capitalization of $231.04 million, a P/E ratio of 114.00, a P/E/G ratio of 1.58 and a beta of 0.57.

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

Alpine Income Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 7.14%. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, March 13th. Alpine Income Property Trust’s dividend payout ratio is 814.29%.

Insiders Place Their Bets

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.64, for a total transaction of $33,280.00. Following the transaction, the director now owns 17,143 shares of the company’s stock, valued at $285,259.52. This represents a 10.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.74% of the stock is owned by corporate insiders.

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.