Insider Buying: Alpine Income Property Trust, Inc. (NYSE:PINE) Major Shareholder Buys $98,364.38 in Stock

Alpine Income Property Trust, Inc. (NYSE:PINE) major shareholder Cto Realty Growth, Inc. bought 6,562 shares of the stock in a transaction on Tuesday, July 9th. The shares were bought at an average price of $14.99 per share, for a total transaction of $98,364.38. Following the purchase, the insider now directly owns 202,918 shares in the company, valued at approximately $3,041,740.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cto Realty Growth, Inc. also recently made the following trade(s):

• On Friday, July 5th, Cto Realty Growth, Inc. bought 6,262 shares of Alpine Income Property Trust stock. The shares were bought at an average price of $15.00 per share, for a total transaction of $93,930.00.
• On Thursday, June 27th, Cto Realty Growth, Inc. bought 7,959 shares of Alpine Income Property Trust stock. The shares were bought at an average price of $14.97 per share, for a total transaction of $119,146.23.
• On Thursday, June 13th, Cto Realty Growth, Inc. acquired 830 shares of Alpine Income Property Trust stock. The stock was acquired at an average price of $14.99 per share, for a total transaction of $12,441.70.
• On Tuesday, May 28th, Cto Realty Growth, Inc. acquired 191 shares of Alpine Income Property Trust stock. The stock was acquired at an average price of $15.00 per share, for a total transaction of $2,865.00.

Alpine Income Property Trust Stock Up 3.9 %

NYSE:PINE opened at $15.70 on Friday. Alpine Income Property Trust, Inc. has a twelve month low of $14.25 and a twelve month high of $17.72. The stock has a fifty day simple moving average of $15.39 and a 200-day simple moving average of $15.58. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.10 annualized dividend and a dividend yield of 7.01%. Alpine Income Property Trust’s dividend payout ratio (DPR) is -2,750.00%.

Hedge Funds Weigh In On Alpine Income Property Trust

Several institutional investors have recently made changes to their positions in PINE. Heartland Advisors Inc. increased its stake in shares of Alpine Income Property Trust by 53.0% during the first quarter. Heartland Advisors Inc. now owns 611,900 shares of the company’s stock valued at $9,350,000 after buying an additional 211,900 shares during the period. Sound Income Strategies LLC increased its stake in shares of Alpine Income Property Trust by 13.9% during the first quarter. Sound Income Strategies LLC now owns 654,044 shares of the company’s stock valued at $9,994,000 after buying an additional 79,969 shares during the period. Carlson Capital L P purchased a new position in shares of Alpine Income Property Trust during the first quarter valued at $1,202,000. Kennedy Capital Management LLC increased its stake in shares of Alpine Income Property Trust by 18.6% during the first quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock valued at $5,814,000 after buying an additional 59,674 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Alpine Income Property Trust by 7.7% in the first quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock valued at $7,541,000 after purchasing an additional 35,151 shares during the last quarter. Hedge funds and other institutional investors own 60.50% of the company’s stock.

Wall Street Analyst Weigh In

PINE has been the topic of several recent research reports. Jonestrading lowered their price objective on shares of Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Stifel Nicolaus reduced their target price on shares of Alpine Income Property Trust from $19.00 to $18.75 and set a “buy” rating for the company in a report on Friday, April 19th. Alliance Global Partners initiated coverage on shares of Alpine Income Property Trust in a report on Thursday, April 11th. They issued a “buy” rating and a $19.00 target price for the company. Finally, BTIG Research reduced their target price on shares of Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $18.69.

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.