Sound Income Strategies LLC Has $14.48 Million Stock Position in Alpine Income Property Trust, Inc. (NYSE:PINE)

Sound Income Strategies LLC increased its stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 795,428 shares of the company’s stock after purchasing an additional 60,659 shares during the quarter. Sound Income Strategies LLC owned about 0.06% of Alpine Income Property Trust worth $14,477,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings 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 buying an additional 35,151 shares during the period. Kennedy Capital Management LLC boosted its position 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 worth $5,814,000 after purchasing an additional 59,674 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Alpine Income Property Trust by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock valued at $11,545,000 after buying an additional 6,522 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Alpine Income Property Trust during the 2nd quarter worth $647,000. Finally, Los Angeles Capital Management LLC bought a new position in Alpine Income Property Trust during the second quarter worth about $352,000. Institutional investors and hedge funds own 60.50% of the company’s stock.

Alpine Income Property Trust Price Performance

Shares of PINE traded up $0.55 during trading hours on Friday, hitting $17.90. 121,227 shares of the company were exchanged, compared to its average volume of 56,462. Alpine Income Property Trust, Inc. has a fifty-two week low of $14.25 and a fifty-two week high of $19.42. The company has a market cap of $243.98 million, a price-to-earnings ratio of -447.50, a P/E/G ratio of 1.76 and a beta of 0.80. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average is $17.96 and its 200 day moving average is $16.42.

Alpine Income Property Trust (NYSE:PINE) last issued its earnings results on Thursday, July 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.38). The firm had revenue of $12.49 million during the quarter, compared to analyst estimates of $12.10 million. Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. During the same period in the previous year, the company earned $0.37 EPS. On average, equities analysts anticipate that Alpine Income Property Trust, Inc. will post 1.65 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.26%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 12th. Alpine Income Property Trust’s payout ratio is currently -2,800.00%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PINE shares. Stifel Nicolaus raised their price objective on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a report on Friday, July 19th. B. Riley reaffirmed a “buy” rating and set a $20.00 price target (up from $19.50) on shares of Alpine Income Property Trust in a research note on Wednesday, July 24th. Truist Financial increased their target price on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Raymond James boosted their price target on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Alpine Income Property Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.89.

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.